DGAP-News: Schaltbau Group increases revenues and earnings in 3rd quarter 2010
(firmenpresse) - Schaltbau Holding AG / Key word(s): Quarter Results
26.10.2010 10:58
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Schaltbau Group increases revenues and earnings in 3rd quarter 2010
Munich, 26 October 2010 - In an ongoing favourable economic environment,
the Schaltbau Group continued to perform well in the three-month period
that ended in September 2010. The third quarter was the best of the current
year so far with regard to sales revenues, EBIT and Group net profit. The
prolonged steady stream of business in the railway sector and the unchanged
strong demand, particularly from Asian markets, as well as growing impetus
in the industrial sector, were the primary drivers of growth. Due to the
Group's unexpected good performance in the third quarter, earnings per
share of EUR 6.40 are now predicted for 2010.
Incoming orders for the quarter under report totalled EUR 71.4 million,
34.7 per cent up on the weak figure of EUR 53.0 million recorded in the
crisis-ridden previous year. In the first nine months of 2010 order intake
therefore rose by 16.2 per cent to EUR 224.7 million (2009: EUR 193.4
million). The order book stood at EUR 179.9 million on 30 September 2010
(30 Sept. 2009: EUR 170.1 million).
Powered by growing demand, the Schaltbau Group generated sales revenues of
EUR 74.0 million from July to September 2010. The figure is an improvement
of 18.6 per cent on the total of EUR 62.4 million registered in the third
quarter one year earlier. Sales revenue of EUR 207.9 million was achieved
during the nine-month period, exceeding the previous year's EUR 205.0
million by 1.4 per cent.
In the Mobile Transportation Technology segment both incoming orders and
sales for the third quarter 2010 showed a remarkable increase on last
year's figures. The Rail Infrastructure business field also made good
progress in the Stationary Transportation Technology segment. The volume of
incoming orders continued to rise and the processing of orders for level
crossings and points heating systems, hampered by the harsh winter in the
first quarter, accelerated considerably in the three-month period that
ended in September 2010. Order intake for the Brake Systems business field,
which began picking up again in May, translated increasingly to earnings in
the quarter under report and by August the turnaround had here too been
accomplished. Order book and sales performance in the Components segment
continued to please throughout the third quarter. Apart from brisk demand
in the railway sector, renewed vitality in requirements for industrial
applications also gave the segment an additional boost. Order-intake growth
and sales performance were both outstanding in China.
The total output of the Schaltbau Group rose significantly to EUR 214.2
million (2009: EUR 197.4 million) during the nine-month period, powered by
strong sales growth and the efficient processing of orders in the third
quarter. Thus the Schaltbau Group improved its profit from operating
activities (EBIT) to EUR 17.3 million (2009: EUR 14.8 million) and its EBIT
margin to 8.3 per cent (2009: 7.2 per cent).
The sharp rise in earnings in the third quarter drove up Group net profit
for the first nine months of the current year to EUR 11.5 million,
surpassing last year's figure by EUR 1.8 million. Earnings per share stood
at EUR 5.22 compared with EUR 4.47 for the first nine months of 2009.
Thepowerful growth in total output during the third quarter and upcoming
deliveries in the last quarter have caused working capital to rise from EUR
53.8 million recorded on 31 December 2009 to EUR 73.3 million on 30
September 2010. These factors had the greatest influence on the balance
sheet total, which increased to EUR 187.2 million (31 December 2009: EUR
167.9 million). Nevertheless, the equity ratio including participation
rights capital, which is similar in nature to equity, improved from 16.4%
at the end of 2009 to 19.3% on 30 September 2010. Net bank liabilities were
reduced to EUR 39.2 million as compared with EUR 43.0 million one year
earlier.
Group Key Financial Figures representing business performance for the first
three quarters of the fiscal years 2009 / 2010:
HY Q3/ 30.- HY Q3/ 30.-Contact person:
09 09 9.09 10 10 9.10
Order intake EUR 140 53.0 193.4 153 71.4 224.7
m. .4 .3
Order book EUR 179 170 170.1 182 179 179.9
m. .7 .1 .6 .9
Sales EUR 142 62.4 205.0 133 74.0 207.9
m. .5 .9
EBIT EUR 11.4 3.4 14.8 10.3 6.9 17.3
m.
Group net profit for the EUR 8.0 1.7 9.7 6.5 4.9 11.5
period m.
Profit attributable to EUR 7.0 1.3 8.3 5.4 4.4 9.7
shareholders of the AG m.
Earnings per share EUR 3.76 0.71 4.47 2.87 2.35 5.22
(undiluted)
Group equity EUR 14.4 15.6 15.6 24.6 29.2 29.2
m.
Wolfdieter Bloch ( Schaltbau Holding AG ( Hollerithstr. 5 ( 81829 Munich,
Germany
Tel: +49 (0) 89 93005 209 ( Fax: +49 (0) 89 93005 318 ( E-mail:
bloch(at)schaltbau.de
Kontakt:
Wolfdieter Bloch
Schaltbau Holding AG
Hollerithstraße 5
81829 München
Tel. 089 - 93005 209
Fax 089 - 93005 318
bloch(at)schaltbau.de
26.10.2010 10:58 Dissemination of a Corporate News, transmitted by DGAP -
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Language: English
Company: Schaltbau Holding AG
Hollerithstraße 5
81829 München
Deutschland
Phone: 089 - 93005 - 209
Fax: 089 - 93005 - 318
E-mail: bloch(at)schaltbau.de
Internet: www.schaltbau.de
ISIN: DE0007170300, DE000A0D66Z2, DE000A0TFWY1
WKN: 717030, A0D66Z2, A0TFWY1
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Düsseldorf, Berlin, Stuttgart
End of Announcement DGAP News-Service
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Datum: 26.10.2010 - 10:58 Uhr
Sprache: Deutsch
News-ID 32408
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