DGAP-News: Deufol AG in the first quarter 2011: Positive sales growth
(firmenpresse) - DGAP-News: Deufol Aktiengesellschaft / Key word(s): Quarter Results
Deufol AG in the first quarter 2011: Positive sales growth
12.05.2011 / 06:17
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PRESS RELEASE
Deufol AG in the first quarter 2011: Positive sales growth
- Sales EUR 75,8 million (previous year: 70,8 million)
- Operating profit (EBITA) EUR 1,7 million (previous year: EUR 2,2
million)
- Net profit EUR 0,12 million (previous year: EUR 0,63 million)
- Earnings per share EUR 0,003 (previous year: EUR 0,014)
- Financial liabilities EUR 77,8 million (previous year: EUR 80,5
million)
- Operating cash flow EUR 2,5 million (previous year: EUR 1,4 million)
Hofheim, May 12, 2011
Positive sales growth
Total sales in the first quarter of 2011 were at EUR 75.8 million 7.0 %
higher than in the same period in the previous year. Adjusted for changes
due to acquisitions, this means organic growth of 6.3 %. If one also takes
into consideration the US dollar's appreciation against the euro of 1.3 %
on average, the increase amounts to 6.0 %.
In Germany sales rose to EUR 42.5 million, growth of 11.2 % on the same
quarter in the previous year, and in the rest of Europe they increased to
EUR 21.3 million (+ 4.3 %). In the USA, at EUR 12.0 million sales were 1.8
% (3.0 % on a currency-adjusted basis) lower than in the previous year.
With a 56.1 % share of Group sales, the proportion accounted for by Germany
increased by 2.1 percentage points on the previous year. The share of sales
realized elsewhere in Europe decreased slightly, from 28.8 % to 28.1 %, and
the USA's share of sales fell by 1.4 percentage points to 15.8 %.
Result burdened by higher prices for raw materials
The operating result (EBITA) in the first quarter was at EUR 1.67 million
23.4 % below the level for the same period in the previous year (EUR 2.18
million).
The decrease of EUR 0.5 million is mainly due to three effects: start-up
losses of EUR 0.2 million for the new location in Roverbella (Italy),
additional expenditure in the amount of EUR 0.1 million associated with the
expansion of the Group's gift card business in the USA and increased
commodities (wood) and materials prices. These price rises led to an
increase of at least EUR 0.5 million in expenditure. We are in talks with
our customers, that if commodity prices remain high, to pass on gradually
these higher purchasing costs. Likewise, the highly positive orders
position for the remainder of this year will be reflected in an improved
result in relation to the previous year.
The individual segments performed as follows: In Germany we recorded an
EBITA decrease of 34.1 % to EUR 1.36 million. In the rest of Europe EBITA
increased by 39.7 % to EUR 1.26 million. The USA / Rest of World segment
realized an operating loss of EUR 0.42 million (previous year: - EUR 0.23
million). The EBITA loss of Deufol AG (Holding) was EUR 0.58 million
(previous year: EUR 0.56 million).
Financial results showed a slight increase compared to the previous year,
from - EUR 1.02 million to - EUR 0.94 million. This is attributable to
slightly lower financial expenses and a slightly higher share of earnings
accounted for by associates. Financial income was virtually unchanged at
EUR 0.35 million. Earnings before taxes (EBT) in the first quarter were EUR
0.73 million (previous year: EUR 1.16 million). After income tax expenses
(EUR0.50 million) the result is EUR 0.23 million, compared to EUR 0.75
million in the first quarter of 2010.
After deduction of the profit shares of non-controlling interests (EUR
0.12 million), there is a net profit of EUR 0.12 million (previous year:
EUR 0.63 million) attributable to the shareholders of Deufol AG. Earnings
per share in the first quarter were EUR 0.003 (previous year: EUR 0.014).
Strong operating cash flow
The first-quarter cash flow provided by operating activities amounted to
EUR 2.46 million and was thus significantly higher than the level in the
previous year (EUR 1.35 million).
The financial indebtedness of the Deufol Group decreased in the first three
months of the fiscal year by EUR 0.4 million to EUR 77.8 million. As cash
and financial receivables simultaneously decreased
(- EUR 1.9 million), the net financial liabilities rose by EUR 1.5 million,
from EUR 49.3 million at the end of the year to EUR 50.8 million.
On the liabilities side, equity (including non-controlling interests) fell
in the first three months of 2011 on balance by EUR 0.5 million to EUR 98.5
million. This was due to other comprehensive income
(- EUR 0.6 million). With a slightly increased balance-sheet total, the
equity ratio decreased from 43.6 % to 43.4 %.
Key data of the first quarter 2011
figures in EUR thousand Q1 2011 Q1 2010 change (%)
Sales 75,750 70,804 7.0
EBITDA 3,972 4,352 (8.7)
EBIT 1,671 2,181 (23.4)
EBT 731 1,162 (37.1)
Net result 124 627 (80.2)
Earnings per share (EUR) 0.003 0.014 (80.2)
Operating cash flow 2,462 1,345 83.1
Investments in tangible assets 1,491 1,023 45.8
Net financial liabilities 50,749 48,205 5.3
Employees (average) 2,793 2,687 4.0
Outlook - Planning confirmed
Deufol AG confirms its planning figures published for fiscal year 2011 in
its annual financial report. These envisage sales in a corridor between EUR
310 million and EUR 325 million and an operating result (EBITA) of between
EUR 12 million and EUR 14 million.
The interim report is available on the internet at http://www.deufol.com.
For further information, please contact:
Deufol AG
Rainer Monetha
Investor Relations
Phone: +49 (6122) 50 1238
E-mail: Rainer.Monetha(at)deufol.com
End of Corporate News
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Language: English
Company: Deufol Aktiengesellschaft
Johannes-Gutenberg-Straße 3-5
65719 Hofheim (Wallau)
Deutschland
Phone: +49 (6122) 50 00
Fax: +49 (6122) 50 1300
E-mail: Rainer.Monetha(at)deufol.com
Internet: www.deufol.com
ISIN: DE0005101505
WKN: 510150
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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124111 12.05.2011
Datum: 12.05.2011 - 06:17 Uhr
Sprache: Deutsch
News-ID 34040
Anzahl Zeichen: 0
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Kategorie:
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