DGAP-News: Schaltbau Group reports highly profitable growth in third quarter 2011
(firmenpresse) - DGAP-News: Schaltbau Holding AG / Key word(s): Quarter Results
Schaltbau Group reports highly profitable growth in third quarter 2011
31.10.2011 / 10:31
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Schaltbau Group reports highly profitable growth in third quarter 2011
Munich, 31 October 2011 - Again in the third quarter 2011, the Schaltbau
Group reported a strong level of highly profitable growth. Order intake,
sales and Group net profit were all once again well up on those of the good
previous year. The Executive Board thus affirms the forecast already
upwardly adjusted in September, predicting earnings per share of EUR 8.85
for the fiscal year 2011.
Dr Jürgen H. Cammann, Executive Board Spokesman of Schaltbau Holding AG:
'The fiscal year 2011 will mark a new record in the history of the company.
Particularly in the first two quarters, Schaltbau achieved exceptionally
high results in both sales and earnings, and although performance returned
to normal levels in the third quarter we are highly optimistic for the year
as a whole and abide by our forecast.'
Order intake rose to EUR 81.7 million for the quarter under report, clearly
surpassing the previous year's third-quarter figure of EUR 71.4 million. In
the nine-month period from January to September 2011, order volume climbed
by 22% to total EUR 274.1 million.
The Mobile Transportation Technology segment recorded an 18% increase in
order intake for the first nine months of the current year. Incoming orders
for the Stationary Transportation Technology segment rose by 21% for the
period ended September 2011. Business with Brake Systems grew at an
above-average rate. Order volume in this business field was far higher than
in 2010 due to the enduring stability of the economic environment for
container terminals. The Rail Infrastructure business field continued to
perform dependably and all of its main product groups have shown
improvements compared with the same nine-month period one year earlier. The
Components segment registered a 28% increase in incoming orders over the
first nine months of the current year. The pleasing result was visible
throughout all of the segment's product groups and across all sales
regions.
On the back of this stable order situation, the Schaltbau Group again
delivered a healthy third-quarter sales performance to report EUR 80.6
million after posting EUR 74.0 million for the same period of 2010.
Overall, sales totalled EUR 236.4 million for this year's nine-month period
compared with EUR 207.9 million in the first three quarters of 2010, a
growth rate of 14%.
Earnings for the Schaltbau Group have also continued their upward trend.
EBIT rose from last year's figure of EUR 17.3 million to EUR 22.6 million
for the first nine months of 2011 and the EBIT margin grew by 1.3
percentage points to 9.6%.
Hans Gisbert Ulmke, Executive Board member of Schaltbau Holding AG: 'The
growth in earnings and the operating margin is due to the strong expansion
of business volume and the below-average rise in personnel and other
operating expenses.'
The profit attributable to shareholders of Schaltbau Holding AG for the
nine-month period ended 30 September 2011 rose to EUR 16.0 million,
compared with EUR 9.7 million for the same period the previous year.
Earnings per share rose considerably from EUR 5.22 to EUR 8.10.
The positive upswing in reported earnings and the reclassification of debt
capital to equity capital resulting from the conversion of convertible
bonds have additionally bolstered balance sheet ratios. Equity rose
significantly to EUR 55.6 million (31 December 2010: EUR 33.1 million) and
the balance sheet total to EUR 218.3 million (31 December 2010: EUR 189.6
million). The equity ratio increased to 25.5% (31 December 2010: 17.5%).
Due to the high growth in sales volume, both inventories and trade accounts
receivable increased considerably. This stood in contrast to a
comparatively moderate rise in trade payables and advance payments, causing
working capital to go up to EUR 89.4 million (31 December 2010: EUR 66.8
million).
Group Key Financial Figures representing business performance for the first
three quarters of the fiscal years 2010 / 2011:
HJ Q3/ 30.- HJ Q3/ 30.-About Schaltbau:
10 10 9.10 11 11 9.11
Order intake Mio.E 153 71.4 224.7 192 81.7 274.1
UR .3 .4
Order book Mio.E 182 179 179.9 210 210 210.9
UR .6 .9 .0 .9
Sales Mio.E 133 74.0 207.9 155 80.6 236.4
UR .9 .8
EBIT Mio.E 10.3 6.9 17.3 15.9 6.7 22.6
UR
Group net profit for the Mio.E 6.5 4.9 11.5 12.7 5.8 18.5
period UR
Profit attributable to Mio.E 5.4 4.4 9.7 10.7 5.3 16.0
shareholders of the AG UR
Earnings per share EUR 2.87 2.35 5.22 5.52 2.58 8.10
(undiluted)
Group equity Mio. 24.6 33.1 33.1 50.3 55.6 55.6
EUR
With annual sales of EUR 315 million and a workforce of around 1,700
employees, the Schaltbau Group is a leading supplier of components and
systems in the field of transportation technology. It supplies complete
level crossing systems, door systems for buses and trains, industrial
braking systems for container cranes and also power supply units as well as
high- and low-voltage components for railway vehicles. Its innovative and
future-oriented products make Schaltbau a key business partner in the
fields of transportation technology and industry.
End of Corporate News
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Language: English
Company: Schaltbau Holding AG
Hollerithstraße 5
81829 München
Germany
Phone: 089 - 93005 - 209
Fax: 089 - 93005 - 318
E-mail: bloch(at)schaltbau.de
Internet: www.schaltbau.de
ISIN: DE0007170300, DE000A0D66Z2,
WKN: 717030, A0D66Z2,
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Stuttgart
End of News DGAP News-Service
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143980 31.10.2011
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Datum: 31.10.2011 - 10:31 Uhr
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