DGAP-News: revenues of INDUS Holding AG to pass one billion euro mark in 2011
(firmenpresse) - DGAP-News: INDUS Holding AG / Key word(s): Final Results
revenues of INDUS Holding AG to pass one billion euro mark in 2011
29.04.2011 / 11:00
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Sales revenues of INDUS Holding AG to pass one billion euro
mark in 2011
Bergisch Gladbach, April 29, 2011 - The past fiscal year was the most
successful year in the history of INDUS Holding AG. Thanks to its SME
strengths, the Group benefited disproportionately from the upswing,
primarily due to two factors. First, the restructuring measures initiated
in the early phase of the crisis had a positive impact on the cost side,
which means that the economic recovery coincided with leaner structures.
Second, the subsidiaries benefited from fast growing demand in China, India
and the USA. The upswing was felt across all segments, with the Vehicle
Components/Engineering and Metal/Metal Processing segments experiencing the
strongest upward trend due to their export orientation. As a result, INDUS'
earnings were back at 2007/2008 levels already in the first year following
the crisis. The EBIT margin of 10% achieved in 2010 reflects the strong
position as a group of medium-sized hidden champions.
Earnings before interest and taxes up by more than 70%
Sales revenues rose sharply to EUR 971.6 million in 2010 (2009: EUR 766.4
million). This means that sales revenues clearly exceeded the EUR 800
million projected at the beginning of the year. At EUR 101.4 million,
earnings before interest and taxes (EBIT) reached a record level (2009: EUR
57.1 million). The EBIT margin stood at 10.4%, which was also clearly above
the projected 7%. EBIT include write-downs for impairment in an amount of
EUR 1.7 million. Net income for the year soared to EUR 46.9 million (2009:
EUR 11.4 million).
Debt reduction in spite of growth financing
INDUS reduced its debt by a gross amount of EUR 42.7 million in 2010. The
Group's dynamic growth is clearly reflected in cash flow, which is an
important performance indicator. Due to the funds required to finance the
company's growth, operating cash flow declined from EUR 106.6 million to
EUR 81.9 million. Year-end liquidity nevertheless remained high and climbed
to EUR 96.8 million (2009: EUR 93.5 million). Together with credit
commitments in an amount of approx. EUR 35 million, it forms the basis for
the company's future investment policy. At EUR -27.4 million, net interest
expenses stayed at the prior year level (2009: EUR -27.6 million). A look
at interest on operating activities shows that interest expenses have
declined as a result of the debt reduction, namely from EUR -28.0 million
to EUR -26.9 million. The INDUS Group owes this stable situation to its
long-term credit agreements. Having risen continuously since 2005, the
Group's equity again climbed from 26.5% in the previous year to 31.8%.
Dividend to be raised by 80% to EUR 0.90
In view of the positive business performance, the profit appropriation
proposal of the Management Board and the Supervisory Board provides for a
dividend of EUR 0.90. This represents a dividend yield of approx. 4.1%
based on the year-end price.
Sales and earnings forecast for 2011: Stable performance and increased
portfolio investments
At today's annual accounts press conference, CEO Helmut Ruwisch was upbeat
about the year 2011: 'INDUS projects sales revenues clearly in excess of
EUR 1 billion and proportionate EBIT growth for the current fiscal year
2011. In spite of strong cost pressure, especially on the commodities side,
our EBIT margin should be back in the target range of above 10%.' In view
of the situation in Japan, he said that 'the companies of the INDUS Group
are only marginally affected by the consequences, as we neither produce nor
sell our products in Japan. It remains to be seen, however, if and to what
extent supply bottlenecks may have indirect effects on the auto industry.'
In the current fiscal year, INDUS will upgrade its portfolio with targeted
investments of over EUR 50 million in existing subsidiaries. These
investments will be made in new products and production processes and will
also be available for strategic acquisitions at subsidiary level. In
addition INDUS also plans for 2011 the expansion of the portfolio by making
selective acquisitions.
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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29.04.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: INDUS Holding AG
Kölner Straße 32
51429 Bergisch Gladbach
Deutschland
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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121961 29.04.2011
Datum: 29.04.2011 - 11:00 Uhr
Sprache: Deutsch
News-ID 33906
Anzahl Zeichen: 0
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Kategorie:
Business News
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