DGAP-News: D.Logistics in Q2 2010: Continuing positive trend
(firmenpresse) - D.Logistics AG / Half Year Results
12.08.2010 06:57
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D.Logistics in Q2 2010: Continuing positive trend
- Sales EUR 75.5 million (previous year: EUR 69.8 million)
- Operating earnings (EBIT) EUR 3.0 million (previous year: EUR 1.2
million)
- Income EUR 1.0 million (previous year: EUR 0.1 million)
- Operating cash flow EUR 6.5 million (previous year: EUR 4.1 million)
Hofheim, August 12, 2010
Clear sales growth
Total sales in the second quarter of 2010 were at EUR 75.5 million 8.2 %
above the same period in the previous year. If the sales trend is adjusted
for the changes to the consolidated group (sale of D.Logistics Airport
Services GmbH), this represents organic growth of 12.4 %.
In Industrial Goods Packaging, sales were 3.8 % stronger than in the same
quarter in the previous year, while in the Consumer Goods Packaging
segment, sales were 19.2 % higher than in the previous year, not least due
to the strong improvement in the USA. In the Warehouse Logistics segment,
sales decreased by 2.6 %, but after adjustment for the airport business an
increase of 23.4 % resulted.
In the first six months, at EUR 146.3 million, sales were 3.8 % higher than
in the same period in the previous year. Adjusted for changes to the
consolidated group, this means organic growth of 7.4 %. Allowing for
currency fluctuations, the growth rate also amounts to approx. 7.4 %.
Strong improvement in operating result
At EUR 2.97 million, the operating result (EBITA) in the second quarter was
146.6 % above the level for the same period in the previous year (EUR 1.20
million). At EUR 5.20 million, earnings before interest, taxes,
depreciation and amortization (EBITDA) were 47.2 % higher than in the same
quarter in the previous year. The EBITDA margin was 6.9 % (previous year:
5.1 %). Depreciation of tangible assets and amortization of other
intangible assets decreased from EUR 2.33 million to EUR 2.23 million.
The individual segments performed as follows: Industrial Goods Packaging
recorded an EBITA decrease of 24.0 % to EUR 1.95 million. In Consumer Goods
Packaging, EBITA amounted to EUR 0.98 million, compared to a loss of EUR
0.34 million in the previous year. Warehouse Logistics recorded an
operating profit of EUR 0.66 million (previous year: - EUR 0.62 million).
Besides the improved business trend, the end to the losses resulting from
the airport business and the start-up losses in Euskirchen were further
positive factors here. The EBITA loss of D.Logistics AG (Holding) was EUR
0.65 million (previous year: EUR 0.39 million). In the first half of the
year, the Group EBITA of EUR 5.15 million is 85.2 % higher than in the same
period in the previous year (EUR 2.78 million).
Earnings before taxes (EBT) in the second quarter amounted to EUR 1.81
million (previous year: EUR 0.30 million) and in the first six months to
EUR 2.97 million (previous year: EUR 0.91 million). After tax expenses (EUR
0.74 million) and third-party profit shares (EUR 0.11 million), there is a
net profit of EUR 0.94 million (previous year: EUR 0.02 million)
attributable to the shareholders of D.Logistics AG.
The cumulative profits for the shareholders of D.Logistics AG as of June
30, 2010 amounted to EUR 1.56 million (previous year: EUR 0.14 million).
The earnings per share in the second quarter were EUR 0.021 (previous year:
EUR 0.000); in the first half-year, they reached EUR 0.036 (previous year:
EUR 0.003).
Positive cash flow development
The second-quarter net cash provided by operating activities was EUR 6.50
million (previous year: EUR 4.13 million) and after six months it reached
EUR 7.85 million (previous year: EUR 5.59 million).
The financial indebtedness of the D.Logistics Group decreased in the first
six months of the fiscal year by EUR 1.1 million to EUR 77.8 million. As
cash and financial receivables simultaneously increased (+ EUR 2.8
million), the net financial liabilities fell more significantly, by EUR 3.9
million, from EUR 47.5 million at the end of the year to EUR 43.6 million.
The equity ratio stood at 40.7 % compared to 39.4 % at the end of 2009.
Key data of the first six months 2010
Q2 Q2 Change- 6M 6M Change-
In EUR thousand 2010 2009 (%) 2010 2009 (%)
Sales 75,516 69,761 8.2 146,320 141,005 3.8
EBITDA 5,197 3,530 47.2 9,549 7,451 28.2
EBITA = EBIT 2,966 1,203 146.6 5,147 2,779 85.2
EBT 1,809 313 478.0 2,971 914 225.1
Net result 939 16 5,768.8 1,566 139 1,026.6
Earnings per share
(EUR) 0.021 0.000 5,768.7 0.036 0.003 1,100.0
Operating cash flow 6,500 4,134 57.2 7,845 5,585 40.5
Investments in
tangible assets 996 1,116 (10.8) 2,019 2,640 (23.5)
Net financial
liabilities 43,620 50,512 (13.6) 43,620 50,512 (13.6)
Equity ratio 40.7 38.6 5.4 40.7 38.6 5.4
Employees (June 30) 2,724 3,037 (10.3) 2,724 3,037 (10.3)
Outlook - Planning Confirmed
D.Logistics AG confirms its planning figures published for fiscal year 2010
in its annual financial report. These envisage sales in a corridor between
EUR 280 million and EUR 300 million and an operating result (EBITA) in
excess of EUR 10 million. However, with regard to the sales trend the
business performance to date means that there is still a possibility of
exceeding the upper limit of the forecast range.
The interim report is available on the internet at
http://www.dlogistics.com.
Contact:
D.Logistics AG
Investor&Public Relations
Rainer Monetha
Johannes-Gutenberg-Strasse 3-5
65719 Hofheim (Wallau)
Phone: +49 (6122) 50 1238
E-mail: Rainer.Monetha(at)dlogistics.com
12.08.2010 06:57 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv atwww.dgap-medientreff.deandwww.dgap.de---------------------------------------------------------------------------
Language: English
Company: D.Logistics AG
Johannes-Gutenberg-Straße 3-5
65719 Hofheim (Wallau)
Deutschland
Phone: +49 (6122) 50 00
Fax: +49 (6122) 50 1300
E-mail: info(at)dlogistics.com
Internet: www.dlogistics.com
ISIN: DE0005101505
WKN: 510150
Indices: CDAX, Classic All Share, DAXsector All Transportation&Logistics, DAXsector Transportation&Logistics, DAXsubsector
All Logistics, DAXsubsector Logistics, Prime All Share
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Hamburg, München, Düsseldorf, Berlin, Stuttgart
End of News DGAP News-Service
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Datum: 12.08.2010 - 06:57 Uhr
Sprache: Deutsch
News-ID 31966
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