DGAP-News: INDUS reports strong third quarter
(firmenpresse) - DGAP-News: INDUS Holding AG / Key word(s): Quarter Results
INDUS reports strong third quarter
21.11.2013 / 08:00
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INDUS reports strong third quarter
- Results for Q3: Sales revenues EUR 314.3 million, EBIT EUR 32.3
million, EBIT margin 10.3%
- Positive performance expected to continue in 2014
Bergisch Gladbach, 21 November 2013 - The business of INDUS Holding AG
improved from quarter to quarter in 2013. Consolidated sales revenues
increased to EUR 887.1 million at the nine-month stage (Q1-Q3 2012: EUR
830.0 million). INDUS generated EBIT of EUR 85.3 million (Q1-Q3 2012: EUR
81.2 million) and an EBIT margin of 9.6% (Q1-Q3 2012: 9.8%). At EUR 43.5
million, net income for the period clearly exceeded the prior year level
(Q1-Q3 2012: EUR 37.9 million).
INDUS grows as announced at the beginning of the year
Sales revenues of the INDUS Group have grown by approx. 7% in the year to
date. This growth is attributable both to the partial consolidation of the
six new acquisitions and to additional organic growth. The strongest growth
was reported in the Mechanical Engineering segment, where the two largest
new additions, BUDDE and ELTHERM, were consolidated for the first time. Due
to depreciation effects from the first-time consolidation, the operating
results of these companies are included in the segment results only to a
limited extend. Earnings before interest and taxes (EBIT) of the Mechanical
Engineering segment nevertheless increased by 20%. The Vehicle Engineering
segment also showed an above-average performance, with sales revenues
growing by 6% and earnings up by approx. 40%, which reflects the
profit-enhancing measures announced at the beginning of the year. The
Medical Engineering segment performed reliably and generated a strong
margin. The Construction/Infrastructure segment reported particularly
strong growth in the third quarter, thus offsetting the weakness of the
beginning of the year. As a result, sales revenues and earnings of this
segment reached the prior year level at the nine-month stage. Metal
Engineering showed a similar performance, whose sales revenues increased by
approx. 2%; due to minor one-time effects and price pressure, the segment's
margin declined moderately, however.
Cash flow increases, net debt and equity capital remain stable
Jürgen Abromeit, CEO of INDUS Holding AG, expressed his satisfaction: 'We
expect between EUR 70 and 80 million more in sales revenues for 2013, we
have acquired and integrated six companies and improved our operating
result as we had announced. And we did all that without jeopardising the
solidity of our balance sheet.'
The equity ratio stood at 36.6% on the reporting date (31 Dec. 2012:
38.6%). INDUS expects to further reduce its net debt from currently EUR
395.5 million (31 Dec. 2012: EUR 341.8 million) and to improve its equity
capital through working capital reductions and further loan repayments.
Operating cash flow climbed to EUR 63.6 million in the first nine months of
the year (Q1-Q3 2012: EUR 26.3 million). The Group has so far spent about
EUR 80 million on portfolio investments and acquisitions. In spite of the
six recent acquisitions, INDUS' liquidity remains high at EUR 99.3 million
(Q1-Q3 2012: EUR 126.1 million).
The company projects total sales revenues of EUR 1.1 billion to EUR 1.2
billion and EBIT of between EUR 108 million and EUR 110 million for the
full year 2013. INDUS intends to continue its growth in 2014 and to further
expand its performance through portfolio improvements.
The full results for the first nine months 2013 are available immediately
in the internet under www.indus.de.
Contact:
Regina Wolter
Corporate Communications&Investor Relations
Phone +49 2204 4000 70
E-Mail wolter(at)indus.de
End of Corporate News
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Language: English
Company: INDUS Holding AG
Kölner Straße 32
51429 Bergisch Gladbach
Germany
Phone: +49 (0)2204 40 00-0
Fax: +49 (0)2204 40 00-20
E-mail: indus(at)indus.de
Internet: www.indus.de
ISIN: DE0006200108
WKN: 620010
Listed: Regulierter Markt in Düsseldorf, Frankfurt (Prime
Standard); Freiverkehr in Berlin, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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