R. STAHL publishes figures for the first nine months
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R. STAHL AG /
R. STAHL publishes figures for the first nine months
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Order intake and sales significantly increased - Earnings per share more than
doubled - Forecast for 2010 confirmed - Further growth expected for 2011
Waldenburg, November 8(th), 2010 - After a still weak first half year, R. STAHL
succeeded in catching up on the most important key figures during the third
quarter. Compared to the same quarter in the previous year the company, based in
Waldenburg, could achieve an increase in order intake and sales which amounted
to almost 30%.
Accumulated order intake of the group within the first nine month of the
reporting year achieved ? 166.0 million which corresponds to a rise of 7.8%
compared to the previous year. During the same period, sales revenues increased
by 10.2% to ? 165.5 million. This positive development can mainly be attributed
to follow-up orders for the already installed basis. In the third quarter,
project business still failed to appear to a large degree, many customers
postponed their decision to invest to the fourth quarter.
Earning power on a good level again
After nine month the company generated earnings before taxes amounting to ?
10.7 million, after ? 6.3 million in the previous year. This means an increase
of 70%. The profit margin relative to earnings before taxes amounts to 6.5%
after 4.2% in the year of crisis 2009. This can be attributed to the cost
reduction programs and the efficiency improvement programs we introduced during
the crisis. Furthermore, quality of orders improved again and the personnel
costs declined on a relative basis due to an increased sales volume.
Earnings per share have more than doubled and amount to ? 1.21 on 30 September
(previous year: ? 0.59).
Proportion of foreign sales rose to 78%
As at 30 September 2010 the proportion of foreign sales rose to 78% after 74% at
the end of 2009. Especially the regions in Europe and overseas accounted for the
group's growth. In the region Europe (excl. Germany) the macroeconomic recovery
could be felt most. In Germany (? 37.3 million), however, sales still decreased
in the reporting period. The forecasts of the leading research institutes, a
pleasant order intake as well as an increased number of inquiries - from Germany
as well - are promising.
Cash flow significantly increased
After nine month the operating cash flow from operating activities 2010 amounts
to ? 15.1 million after ? 3.3 million in the previous year. Besides higher
income for the period, generation of financial funds from the net working
capital also contributed to this improvement. Free cash flow amounts to ? 4.1
million, after ? -7.5 million in 2009. The acquisition of British Clifford &
Snell in the form of an asset deal, the acquisition of R. STAHL do Brasil Ltda.
and the acquisition of Screen-Tec GmbH, Cologne, are already included.
Sound financial basis
Financing of the company is still sound: Of the long-term assets amounting to ?
84.1 million, ? 79.8 million are covered by equity. Liquid funds amounting to ?
20.8 million exceed the short-term and long-term interest bearing financial
debts by ? 9.6 million.
New location in Austria
As previously reported, R. STAHL took over its long-standing sales partner,
Robert Nissl Ges.m.b.H. on October 1(st) in the course of succession
arrangements. With an own subsidiary in Vienna, the Austrian market can be
supported more directly. In the medium-term the company expects doubling of its
market share in Austria.
Integration of the new group companies Clifford & Snell, R. STAHL do Brasil and
Screen-Tec proceeds as scheduled.
Forecast for the full year confirmed
R. STAHL's most important customer industries feel the upswing; it is reflected
in an increase in inquiries for the expert in explosion protection. Price
situation remains strained, there are signs that the prices for raw materials
may rise. However, the management expects further improvement in processes and
cost structure with the help of the efficiency programs that have already been
started and that are planned. So the Executive Board confirms the forecast that
has been published in the six months' report that, from today's point of view,
sales and earnings will exceed the figures of the first six months. For the full
year R. STAHL expects group sales between ? 210 and 220 million. Earnings before
taxes will presumably be somewhat between ? 14 and 15 million. For 2011 the
Executive Board expects a continuously positive economic environment, it assumes
that this will be reflected in further growth of sales and earnings.
+---------------------------------------------------------------------------+
| Key Figures of R. STAHL Group (in ? m) |
+-------------------------------------------+----------+----------+---------+
| | | | Changes |
| | | | in % |
| | 1-9/2010 | 1-9/2009 | |
+-------------------------------------------+----------+----------+---------+
| Order intake | 166.0 | 154.0 | + 7.8 |
+-------------------------------------------+----------+----------+---------+
| Sales (group) | 165.5 | 150.2 | + 10 |
+-------------------------------------------+----------+----------+---------+
| Earnings before taxes (EBT) | 10.7 | 6.3 | + 70 |
+-------------------------------------------+----------+----------+---------+
| EBT-margin (in % of revenue) | 6.5 | 4.2 | n.i. |
+-------------------------------------------+----------+----------+---------+
| Earnings per share (in ?) | 1.21 | 0.59 | + 105 |
+-------------------------------------------+----------+----------+---------+
| Equity ratio (in %) | 42.1 | 41.6 | n.i. |
+-------------------------------------------+----------+----------+---------+
| Employees (record date, without trainees) | 1,446 | 1,400 | + 3.3 |
+-------------------------------------------+----------+----------+---------+
n.i. = no information
You will find the detailed interim report on the internet at
http://www.r-stahl.com/investor-relations/financial-reports.html
Information on R. STAHL - www.stahl.de
R. STAHL is one of the world's leading suppliers of electrical and electronic
products and systems for explosion protection. These products and systems
prevent explosions in hazardous areas and thus contribute to the safety of man,
machine and environment. The spectrum ranges from tasks like
switching/distributing, installing, operating/monitoring, lighting and
signalling/alarming up to automating. Typical customers are the growth
industries like the oil & gas industry, the chemical and pharmaceutical industry
and the food industry. The share in the market for marine equipment continuously
increases. In 2009 about 1,400 employees generated sales of ? 203 million world-
wide.
R. STAHL AG is listed on the stock exchange.
If you have any questions please contact:
R. STAHL AG
Communications / Investor Relations
Judith Schäuble
Am Bahnhof 30, 74638 Waldenburg (Württ. )
Phone: 07942.943-1217, Fax: 07942.943-40 1217
e-mail:judith.schaeuble(at)stahl.de
[HUG#1459893]
--- End of Message ---
R. STAHL AG
Am Bahnhof 30 Waldenburg Germany
Listed: Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg,
Freiverkehr in Börse Berlin,
Freiverkehr in Börse Düsseldorf,
Freiverkehr in Bayerische Börse München,
Prime Standard in Frankfurter Wertpapierbörse,
Regulierter Markt in Frankfurter Wertpapierbörse,
Regulierter Markt in Börse Stuttgart;
Interim Report 3/2010:
http://hugin.info/130484/R/1459893/399277.pdf
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Source: R. STAHL AG via Thomson Reuters ONE
Unternehmensinformation / Kurzprofil:
Datum: 08.11.2010 - 09:09 Uhr
Sprache: Deutsch
News-ID 48511
Anzahl Zeichen: 9391
contact information:
Town:
Waldenburg
Kategorie:
Business News
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