DGAP-News: Deufol AG in the second quarter 2011: Solid second quarter
(firmenpresse) - DGAP-News: Deufol Aktiengesellschaft / Key word(s): Half Year Results
Deufol AG in the second quarter 2011: Solid second quarter
11.08.2011 / 07:01
---------------------------------------------------------------------
Deufol AG in the second quarter 2011: Solid second quarter
- Sales EUR 77.4 million (previous year EUR 75.5 million
- Operating profit (EBITA) EUR 2.97 million (previous year EUR 2.97
million
- Net profit EUR 0.9 million (previous year EUR 0.9 million)
- Financial liabilities EUR 76.9 million (previous year EUR 77.8 million
Hofheim, August 11, 2011
Positive sales trend
Total sales in the second quarter of 2011 were at EUR 77.4 million 2.4 %
above the same period in the previous year. Adjusted for changes due to
acquisitions, this means organic growth of 0.8 %. In Germany sales rose to
EUR 43.2 million, an increase of 7.2 % on the same quarter in the previous
year, and in the rest of Europe they increased to EUR 21.9 million (+ 8.1
%). In the USA, at EUR 12.1 million sales were 18.4 % lower than in the
previous year.
Total sales in the first six months of 2011 were at EUR 153.1 million 4.6 %
higher than in the same period in the previous year. Adjusted for
acquisitions, this means organic growth of 3.4 %. If one also takes into
consideration the US dollar's depreciation against the euro of 5.6 % on
average, the increase amounts to 4.3 %. With a 56.0 % share of Group sales,
the proportion accounted for by Germany increased by 2.3 percentage points
on the previous year. The share of sales realized elsewhere in Europe
increased slightly, from 27.8 % to 28.2 %, and the USA's share of sales
fell by 2.7 percentage points to 15.7 %.
Quarterly result slightly higher than previous year
At EUR 2.970 million, the operating result (EBITA) in the second quarter
was slightly higher than in the same period in the previous year (EUR 2.966
million). The individual segments performed as follows: In Germany we
recorded an EBITA decrease of 45.6 % to EUR 1.31 million. In the rest of
Europe EBITA increased by 123.3 % to EUR 2.32 million. The USA / Rest of
the World segment realized an operating result of EUR 0.17 million
(previous year: EUR 0.15 million).
At EUR 4.64 million, EBITA in the first six months of 2011 were 9.8 % below
the level for the same period in the previous year (EUR 5.15 million). All
in all, several factors affected the result in the first half of the year.
The increased contribution to earnings made by the European companies,
especially in Belgium and Italy, had a positive effect. In annual
comparison in contrast, the increase in commodity prices (wood) and
materials prices drove up expenses by over EUR 1.0 million in Germany.
However, the relaxation in the prices of several types of wood in the
second quarter and the successive incorporation of higher commodity prices
in our customer relationships give cause for optimism. Lower volumes at two
German packaging sites also placed a strain on the result. Measures to
raise efficiency were implemented and renegotiations of customer contracts
initiated to counter this problem.
Financial results increased on the same six-month period in the previous
year from - EUR 2.18 million to - EUR 1.90 million. This is primarily due
to lower finance costs which had declined by EUR 0.26.
Earnings before taxes (EBT) as per June 30 amounted to EUR 2.74 million
(previous year: EUR 2.97 million). After income tax expenses (EUR 1.45
million), the result is EUR 1.29 million, compared to EUR 1.80 million in
the first six months of 2010. After deduction of the profit shares of
noncontrolling interests (EUR 0.27 million), there is a net profit of EUR
1.02 million (previous year: EUR 1.57 million) attributable to the
shareholders of Deufol AG. Earnings per share in the first six months were
EUR 0.023 (previous year: EUR 0.036).
Cash flow development
The cash flow provided from operating activities in the first six months of
the current fiscal year amounted to EUR 4.38 million (previous year: EUR
7.85 million). This change is predominantly due to the cut-off date-related
EUR 2.33 million increase in trade receivables. In the previous year's
period, the trade receivables had declined by EUR 3.78 million while
raising the cash flow figure.
The financial indebtedness of the Deufol Group decreased in the first six
months of the fiscal year by EUR 1.3 million to EUR 76.9 million. As cash
and financial receivables simultaneously decreased (- EUR 3.6 million), the
net financial liabilities rose slightly (+ EUR 2.3 million).
With a slightly lower balance sheet total, the equity ratio stood at 43.4 %
after 43.6 % at the end of last year.
Key data of the first six months 2011
figures in EUR Q2 Q2 change 6M 6M change
thousand 2011 2010 (%) 2011 2010 (%)
153,0 146,3
Sales 77,349 75,516 2.4 99 20 4.6
EBITDA 5,304 5,197 2.1 9,276 9,549 (2.9)
EBITA = EBIT 2,970 2,966 0.1 4,641 5,147 (9.8)
EBT 2,012 1,809 11.2 2,743 2,971 (7.7)
Net profit 894 939 (4.8) 1,018 1,566 (35.0)
Earnings per share
(EUR) 0.020 0.021 (4.8) 0.023 0.036 (35.0)
Operating cash flow 1,911 6,500 (70.6) 4,373 7,845 (44.3)
Investments in
tangible assets 1,409 996 41.5 2,900 2,019 43.6
Net financial
liabilities 51,616 43,620 18.3 51,616 43,620 18.3
Equity ratio (%) 43.4 41.5 4.6 43.4 41.5 4.6
Employees (June 30) 2,789 2,724 2.4 2,789 2,724 2.4
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.
In our view the current turmoil on the financial markets will not have a
negative impact on the business of Deufol Group. Stable customer
relationships and a solid financing provide the foundation for the further
expansion of our business.
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
---------------------------------------------------------------------
11.08.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: Deufol Aktiengesellschaft
Johannes-Gutenberg-Straße 3-5
65719 Hofheim (Wallau)
Germany
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
---------------------------------------------------------------------
135134 11.08.2011
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 11.08.2011 - 07:01 Uhr
Sprache: Deutsch
News-ID 44920
Anzahl Zeichen: 0
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 197 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Deufol AG in the second quarter 2011: Solid second quarter"
steht unter der journalistisch-redaktionellen Verantwortung von
Deufol Aktiengesellschaft (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
