EANS-Adhoc: Rosenbauer International AG 2012 revenues at record level /
Dividend proposal: 1.2 EUR (2011: 1.2 EUR) per share Rosenbauer production in
Saudi Arabia Revenue 2013 target in excess of 700 Mio EUR
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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
distribution. The issuer is solely responsible for the content of this
announcement.
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Financial Figures/Balance Sheet/annual report
18.04.2013
KEY COPORATE FIGURES 2012 2011 Change %
Revenues Mio EUR 645.1 541.6 19%
EBIT Mio EUR 3.6 41.6 (7%)
EBT Mio EUR 38.8 40.3 (4%)
Net profit for the period Mio EUR 32.0 32.1 0%
Cash flow from operating activities Mio EUR (3.7) (12.8) -
Total assets Mio EUR 431.4 357.1 21%
Equity in % of total assets 39.9% 40.6% -
Investments Mio EUR 14.7 11.5 28%
Earnings per share EUR 4.5 4.1 10%
Dividend per share EUR 1.2 1) 1.2 0%
Employees as at Dec 31 2,432 2,123 15%
Order intake Mio EUR 533.2 826.8 (36%)
Order backlog as at Dec 31 Mio EUR 580.5 682.3 (15%)
1) Proposal to Annual General Meeting
Despite the (in some cases severe) downturns affecting fire equipment markets in
developed countries, last year the Rosenbauer Group still managed to keep up the
growth of recent years. Group revenues surged to 645.1 Mio EUR in 2012 (2011:
541.6 Mio EUR), the highest figure in the company's history. This year-on-year
rise of 19% was achieved in the face of stagnation in the Group's two main
markets, Western Europe and the USA, which were still enduring the consequences
of the financial and economic crisis. The growth in revenues is mainly
attributable to international export business, led by increased shipments to the
Middle East.
EBIT in the reporting period came to 38.6 Mio EUR (2011: 41.6 Mio EUR), equating
to an EBIT margin of 6.0% (2011: 7.7%). The thinner EBIT margin is largely due
to higher start-up costs for the new US chassis Commander, and to ever fiercer
price competition on the market - especially in Germany and the USA.
This effect was compounded by the 3.1 Mio EUR of expense incurred by the
termination of the contract with the Brazilian airport operator Infraero
Aeroportos. As well as direct costs of 1.6 Mio EUR, this figure also includes
loss of profit amounting to 1.5 Mio EUR. The contract was terminated because of
differing interpretations of the tender specification for the aircraft rescue
fire fighting vehicles. Rosenbauer America is seeking legal redress.
Rosenbauer pursues a long-termist, shareholder-friendly dividend policy which
assures a reasonable return on the capital employed while addressing the need to
safeguard the company's growth perspectives. The Executive Board and Supervisory
Board will propose to the General Meeting that the dividend for 2012 should be
left unchanged at 1.2 EUR (2011: 1.2 EUR) per share. Accordingly, the sum for
distribution for 6.8 million non-par-value shares is 8.2 Mio EUR (2011: 8.2 Mio
EUR). In terms of the share's closing price of 46.1 EUR, this corresponds to a
dividend yield of 2.6 % (2011: 3.3 %).
The Rosenbauer Group is expanding its presence in Saudi Arabia by building its
own production and service organization in the cities of Riyadh, Jeddah and
Dammam. Preparations at these three locations are in high gear: In the next two
years, the Jeddah plant, with 7500 m² of space, will mainly be used for fitting
out GTLF pumper trucks with fire & safety equipment. It is also envisaged that
Jeddah will carry out final assembly of fire fighting vehicles from SKD kits
(semi-knocked-down kits comprising a complete chassis and other vehicle
components), for the local market. These vehicle kits will be produced in
Austria, prepared for shipping, and sent to Jeddah for final assembly.
Besides the production facility in Jeddah, the head office of Rosenbauer Saudi
Arabia Ltd. is located in the capital, Riyadh. The Riyadh facility, with 2,200
m² of space, will act as a service location with a modern repair workshop. In
addition, vehicle handovers from current contracts will be carried out here. The
Riyadh and Damman facilities will also serve as parallel training centers, where
firefighters are instructed in how to use the new apparatus. To enhance service
readiness, a mobile service unit has been set up, with five mobile workshops on
the road all around the kingdom to provide fire brigades with ongoing
maintenance of their mission vehicles.
Says Dr. Dieter Siegel, Executive Board Chairman of Rosenbauer International AG:
"Our stepped-up presence is the logical response to the great demand for
top-quality apparatus in Saudi Arabia. Once all ongoing contracts have been
fulfilled, there will be around 3000 Rosenbauer vehicles in service in Saudi
Arabia. This is why we are now laying down a foundation not just for assembling
fire-fighting vehicles locally but also for enhancing our on-the-ground presence
with a nationwide service capability."
By the end of 2013, the newly established company Rosenbauer Saudi Arabia LLC.
is expected to have generated revenues of around 5 Mio EUR with a workforce of
over 150 employees, approx. 30 of them from Austria and Germany.
Rosenbauer will be able to stay on the growth track of recent years in 2013. The
large reserve of unfilled orders, the good outlook for project business and the
expansion of its production capacity should all permit further growth. These
fundamentals lead Management to expect that the company may break the 700 Mio
EUR revenue barrier this year.
The high level of investment in the company's future, and the ever fiercer price
competition on the market, are weighing on the EBIT margin. The additions to
production space, and an optimization program launched in the main production
zones at the Leonding site in 2012, will counter this margin trend. Management
is aiming here for an improvement upon the EBIT margin of 6.0% attained in 2012.
Further inquiry note:
Rosenbauer International AG
Mag. Gerda Königstorfer
Tel.: 0732/6794-568
gerda.koenigstorfer@rosenbauer.com
end of announcement euro adhoc
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issuer: Rosenbauer International AG
Paschingerstrasse 90
A-4060 Leonding
phone: +43(0)732 6794 568
FAX: +43(0)732 6794 89
mail: ir@rosenbauer.com
WWW: www.rosenbauer.com
sector: Machine Manufacturing
ISIN: AT0000922554
indexes: WBI, ATX Prime
stockmarkets: free trade: Berlin, Stuttgart, official market: Wien
language: English