EANS-Adhoc: Rosenbauer International AG Busy third quarter in difficult market
environment Revenues up 20% to 517.3 Mio EUR, and EBIT by 37% to 28.0 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/9-month report
19.11.2013
Expectations for 2013 unchanged
Order trend still at high level
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|Group_key_data_____________________|_______|1-9/2013|1-9/2012|Change_in_%|
|Revenue____________________________|Mio_EUR|517.3___|430.2___|20%________|
|EBIT_______________________________|Mio_EUR|28.0____|20.5____|37%________|
|EBIT_margin________________________|_______|5.4%____|4.8%____|-__________|
|EBT________________________________|Mio_EUR|27.6____|20.4____|35%________|
|Net_profit_for_the_period__________|Mio_EUR|19.4____|15.9____|22%________|
|Cash_flow_from_operation_activities|Mio_EUR|(29.0)__|(87.9)__|-__________|
|Total_assets_______________________|Mio_EUR|493.9___|477.2___|3%_________|
|Equity_in_%_of_total_assets________|_______|36,2%___|30.9%___|___________|
|Investments________________________|Mio_EUR|17.4____|11.3____|54%________|
|Earnings_per_share_________________|EUR____|2.4_____|2.1_____|14%________|
|Employees_as_at_September_30_______|_______|2,581___|2,353___|10%________|
|Order_intake_______________________|Mio_EUR|599.6___|400.6___|50%________|
|Order_backlog_as_at_September_30___|Mio_EUR|641.2___|676.0___|(5%)_______|
Despite the stubbornly challenging business environment, the Rosenbauer Group
achieved above-average growth in the third quarter, improving profitability
still further. First-three-quarter revenues rose 20.2% to 517.3 Mio EUR (1-9/
2012: 430.2 Mio EUR). This organic growth is largely attributable to the
international shipments made by Rosenbauer International AG, where capacity
utilisation continued to be very strong due to the healthy order trend.
Moreover, the companies in Spain and the USA were also able to boost their
revenues with export sales.
Year-on-year quarterly comparison shows that revenues in the 3rdquarter
considerably exceeded the previous year's figure, with revenues for the period
from July to September 12% up at 178.8 Mio EUR, from 159.5 Mio EUR the year
before. Fulfilling the revenue target for the year will once again necessitate
stepped-up shipments in the final weeks of the current financial year.
EBIT rose to 28.0 Mio EUR year on year (1-9/2012: 20.5 Mio EUR). In addition to
positive effects from hedging transactions, this increase is mainly due to
greater shipment volumes and to the much higher earnings posted by the US
segment. This also led to an improvement in the EBIT margin, from 4.8% to 5.4%.
To ensure our ability to deal with the planned production volumes, the
capacity-expansion measures that were commenced last year are being continued in
preparation for the increased pace of shipments expected towards the year-end.
The 'Finance cost' improved to a figure of -1.8 Mio EUR per the end of
September, below the figure for the same period of last year (1-9/2012: -2.1 Mio
EUR), largely due to the valuation of derivatives. The 'Result of joint
ventures' decreased to 1.3 Mio EUR (1-9/2012: 1.9 Mio EUR), owing to deferred
shipments. EBT in the first nine months rose to 27.6 Mio EUR (1-9/2012: 20.4 Mio
EUR).
The positive order trend on international export markets, which has been
sustained for many months, is a highly satisfactory development. Order intake in
the first three quarters reached a record high of 599.6 Mio EUR (1-9/2012:
400.6 Mio EUR). Despite the stepped-up level of shipments in the first nine
months of the year, the 641.2 Mio EUR reserve of unfilled orders at September 30
(September 30, 2012: 676.0 Mio EUR) is still at a high level, thanks to the
excellent order intake of recent months. This gives the Rosenbauer Group assured
capacity utilisation at its manufacturing facilities, and a fairly clear view of
the likely course of revenues in the months ahead.
Outlook
The results achieved in a challenging business environment in the first three
quarters give the Group's Management grounds for confidence that it can stay on
the growth track in the future as well.
On the assumption that the high volume of shipments can be fulfilled smoothly,
Rosenbauer is looking for revenues of well over 700 Mio EUR, or at the least a
10% year-on-year increase. Owing to the very large volume of shipments, the
company is expecting higher contributions to revenues and earnings in the fourth
quarter.
However, 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 optimisation program launched at the
Leonding site in 2012, will counter this margin trend. Management is looking
here to achieve an EBIT margin, after allowing for one-off effects, of around
6.0%.
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