EANS-News: Hönle expects an operating result of between EUR 9.5 and EUR 10
million
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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Financial Figures/Balance Sheet
Gräfeling/München (euro adhoc) - In the course of the economic upswing, the
Hönle Group increased its revenues by 23.1 % to TEUR 48,036 in the first nine
months of the 2010/2011 financial year. In conjunction with the package of
measures aimed at increasing earnings power, the higher sales level led to a
significantly improved operating result (EBIT), which rose 162.4 % to TEUR
7,642. Earnings before taxes (EBT) climbed by 167.9 % to TEUR 7,364 and
consolidated net income jumped 188.0 %, reaching TEUR 5,186. This corresponds to
earnings per share of EUR 0.92.
When assessing only the third quarter, the Hönle Group generated sales revenues
of TEUR 15,931, i.e., revenues were down 9.5 % from the previous quarter but
exceeded the previous year's quarter by 14.1 %. The quarter-on-quarter-decline
in sales is attributable to several customer orders where deliveries were
postponed from the third to the fourth quarter of the current financial year.
The operating result amounted to TEUR 2,662. License income in the adhesives
segment in the amount of TEUR 810 led to an increase in earnings, which was
recognised in the third quarter. Moreover, in this context, trading operations
of the adhesives subsidiary, Eleco Produits E.F.D., and the marketing companies
of Eleco Produits E.F.D in the Caribbean were sold to the licensee for a total
of TEUR 460. The business division, which was sold in its entirety, had
generated annual sales of just under EUR 3 million and did not provide a
significant contribution to the results of Eleco Produits E.F.D..
The operating cash flow improved significantly in the first nine months of the
current financial year, jumping from TEUR 2,975 in the previous year to TEUR
8,134 in the current financial year.
Outlook:
The Hönle Group business prospects continue to be positive. The current orders
position leads to expectations of a good fourth quarter. Management therefore
again raises the forecast for the current year, envisaging a sales increase from
EUR 54.6 million in the previous year to at least EUR 65 million in the current
financial year, and an improved operating result from EUR 5.5 million to between
EUR 9.5 million and EUR 10 million in the same period.
This will be by far the best result ever achieved in the Hönle Group's history.
Efforts in the coming months will be focused on successful integration of the
recently acquired Mitronic GmbH, Wolfratshausen. The purchasing, IT, bookkeeping
and controlling departments will be transferred to Dr. Hönle AG. In addition,
manufacturing flows are to be analysed and structured in a more efficient
manner. Synergies between the Hönle Group and Mitronic will contribute to
increasing sales and earnings of the acquired company.
In all, the measures planned will enable optimisation of the Mitronic business
processes, ensure a high quality level, and increase profitability.
In the future, also, apart from strictly organic growth, the acquisition of
companies in the lighting and adhesives technology segments will be significant
for further developing the Group structure.
About Hönle:
Dr. Hönle AG is a listed technology company with registered head office in
Gräfelfing, near Munich. With a staff level of about 400 employees, the Hönle
Group is one of the world´s leading systems suppliers in the UV technology
segment. The equipment and systems are used for drying inks and coatings, curing
adhesives and plastics, disinfecting surfaces, and in the simulation of natural
sunlight. The Company´s business activities focus also on the development and
sale of industrial adhesives and compounds. The Group is represented by own
companies and sales partners worldwide at 50 locations in more than 20
countries.
Further inquiry note:
Peter Weinert
Tel.: +49 89 85608 173
E-Mail: peter.weinert@hoenle.de
Web: www.hoenle.de
end of announcement euro adhoc
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company: Dr. Hönle AG
Lochhamer Schlag 1
D-82166 Gräfeling/München
phone: +49 89 85608 0
FAX: +49 89 85608 101
mail: ir@hoenle.de
WWW: www.hoenle.de
sector: Instrument Engineering
ISIN: DE0005157101
indexes: CDAX, Prime All Share, Technology All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Hamburg, Stuttgart, Düsseldorf, Hannover, München
language: English