EANS-News: Rosenbauer International AG Consolidated revenues decrease to EUR
383.4 million due to deliveries
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6-month report
Increase in deliveries in North America and parts of Europe
EBIT still decreasing at EUR 18.8 million due to low coverage of fixed costs
2016: revenues and EBIT expected to be on similar scale to previous year
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|KEY CORPORATE | | | | |
|FIGURES_______|_______________|_______1-6/2015|_______1-6/2016|_______Change_%|
|Revenues |in EUR million |__________416.9|__________383.4|___________(8%)|
|EBIT__________|in_EUR_million_|___________21.9|___________18.8|__________(14%)|
|Net profit for| | | | |
|the_period____|in_EUR_million_|___________15.9|___________13.4|__________(16%)|
|Cash flow from| | | | |
|operating | | | | |
|activities____|in_EUR_million_|_________-104.3|__________-31.2|______________-|
|Equity in % of| | | | |
|total_assets__|_______________|__________28.6%|__________32.1%|______________-|
|Investments___|in_EUR_million_|___________11.0|___________11.0|_____________0%|
|Earnings per | | | | |
|share_________|______EUR______|____________1.3|____________1.2|___________(5%)|
|Employees as | | | | |
|of_June_30____|_______________|__________3,016|__________3,261|_____________8%|
|Order backlog | | | | |
|as_of_June_30_|in_EUR_million_|__________835.7|__________812.9|___________(3%)|
|Order_intake__|in_EUR_million_|__________479.5|__________376.5|__________(21%)|
The firefighting industry is facing a range of different challenges in 2016 as
well. Trends in demand should remain stable on the North American market. In
Europe, the industry is recording a slight upturn. Based on the first half of
the current year, demand from Asia and the Middle East can be expected to
decline in the year as a whole due to the deteriorating general economic
situation there and the low oil price.
Development of revenues and earnings
The Rosenbauer Group generated revenues of EUR 383.4 million in the first half
of 2016 (1-6/2015: EUR 416.9 million). While decreases in deliveries were
observed in some Middle Eastern countries, deliveries were on the rise in North
America and parts of Europe.
Due to the lower gross margins on orders delivered in the first months, delays
in deliveries due to the political situation in the Gulf States and the
resulting lower coverage of fixed costs, EBIT was still in decline year-on-year
at EUR 18.8 million in the first six months (1-6/2015: EUR 21.9 million). The
interim EBIT margin of 4.9% (1-6/2015: 5.3%) fell short of the figure for the
previous year.
Orders
The Rosenbauer Group recorded a modest order development in the first half of
the year, with incoming orders amounting to EUR 376.5 million (1-6/2015: EUR
479.5 million). While incoming orders in the MENA segment declined significantly
year-on-year (-83 %) due to the political situation and the low oil price, those
in the CEEU segment saw a substantial increase (+39 %). The order backlog as of
June 30, 2016 was slightly down on the previous year's figure at EUR 812.9
million (June 30, 2015: EUR 835.7 million). This order backlog gives the
Rosenbauer Group a satisfactory level of capacity utilization at its production
facilities and good visibility for the next ten months.
Outlook
There was a decline in demand for fire service equipment in some Asian countries
in the first few months of 2016. As a result of the political unrest and the low
oil price, there is no discernible trend indicating that it will be possible to
compensate for this weak demand by the end of the year. Furthermore, the
political situation in the Gulf States is also leading to delays in deliveries
in the current year.
The resulting weaker development of revenues means that - despite positive
effects from the measures to enhance efficiency and reduce costs - the
originally forecast improvement in earnings for the 2016 financial year cannot
be achieved and earnings are instead expected to be on a similar scale to the
previous year.
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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company: 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