EANS-News: Rosenbauer International AG Revenues up slightly at EUR 870.8
million thanks to growth in Europe and US Dividend of EUR 1.2 per share takes
account of investments for the future
--------------------------------------------------------------------------------
Corporate news transmitted by euro adhoc. The issuer/originator is solely
responsible for the content of this announcement.
--------------------------------------------------------------------------------
Annual Reports
- Revenues up slightly at EUR 870.8 million thanks to growth in Europe and US
- EBIT impacted by political instability and extraordinary effects
- Dividend of EUR 1.2 per share takes account of investments for the future
- Lower capacity utilization at beginning of 2017 for project-related reasons
- Management anticipates revenues and earnings in 2017 similar to 2016
______________________________________________________________________________
|GROUP_KEY_FIGURES__|_________________|_______________2015|________________2016|
|Revenues___________|___EUR million___|______________865.4|_______________870.8|
|EBIT_______________|___EUR million___|_______________50.6|________________47.0|
|Net profit for the | | | |
|period_____________|___ EUR million__|_______________36.8|________________34.6|
|Cash flow from | | | |
|operating | | | |
|activities_________|____EUR million__|________________6.5|________________83.4|
|Equity in % of | | | |
|total_assets_______|_________________|______________37.0%|_______________37.2%|
|Earnings_per_share_|_______EUR_______|________________3.3|_________________3.5|
|Dividend (Proposal | | | |
|to_the_AGM)________|____EUR/share____|________________1.5|_________________1.2|
|Employees as of | | | |
|December_31________|_________________|______________3,086|_______________3,375|
|Order backlog as of| | | |
|December_31________|___EUR million __|______________797.5|_______________739.7|
Like the global economy, the world firefighting industry saw little growth
momentum in 2016. There was a significant decline in procurement volumes in
countries with a strong dependence on the price of oil in 2016, as this decline
now also impacted government fire department budgets. However, the development
of the markets in Southeast Asia and the D-A-CH-region (Germany, Austria and
Switzerland) was stable, with demand declining slightly in North America.
Revenue and income situation
The Rosenbauer Group's revenues amounted to EUR 870.8 million in the 2016
financial year (2015: EUR 865.4 million) and remained satisfactory in spite of
the downturn in demand on major markets due to political unrest and the low
price of oil. The regional declines in revenues were compensated by a further
expansion of business on the developed markets, such as North America and
Europe, and in the equipment sector.
EBIT for the 2016 financial year was below the previous year's level at EUR 47.0
million (2015: EUR 50.6 million). The operating result was influenced mainly by
the change in the product mix with lower volumes of specialty vehicles and the
fierce competition in Europe. As a result of the increase in revenues, the
German locations are benefiting from better coverage of fixed costs, though
margin pressure has risen further due to the high competitive intensity. Area
NOMA's contribution to earnings has also been defined by declining export
deliveries, which were partially offset by an increase in local single-vehicle
business, though this involves more complex handling.
In addition, this result also includes extraordinary effects of around EUR 3.5
million relating to the start-up phase of the newly founded company Rosenbauer
Rovereto, a provision for staff measures and an increase in expenses in
connection with recent acquisitions.
Dividend
Considering the negative effects in the future in view of growing political
instability on the international markets and investments in pioneering
firefighting vehicles the Executive Board and Supervisory Board will propose a
dividend of EUR 1.2 (2015: EUR1.5) per share at the Annual General Meeting.
Accordingly, the distribution volume for 6.8 million no-par-value shares will be
EUR 8.2 million (2015: EUR 10.2 million). Based on the closing price of EUR
54.2, this corresponds to a dividend yield of 2.2% (2015: 2.3%).
Outlook
The uncertainty regarding the development of the firefighting markets has
increased tangibly in recent months. Geopolitical tension and the low price of
oil could affect growth on certain markets in 2017 as well. Overall, however,
stable development in global demand for firefighting technology is assumed.
With a strong market presence, geographically balanced business, its broad
portfolio, technology leadership and financial strength, Rosenbauer is well
placed to take advantage of these opportunities for profitable, long-term
growth. In order for the targeted growth to take place on a sound financial
basis, there is a continued focus on increasing efficiency and reducing costs.
Despite the lower capacity utilization at the beginning of the year for
project-related reasons and the continuing pressure on margins in developed
markets, as well as the factors above, the management anticipates to keep
revenues and earnings at the previous year's level.
Further inquiry note:
Rosenbauer International AG
Mag. Gerda Königstorfer
Tel.: 0732/6794-568
gerda.koenigstorfer@rosenbauer.com
end of announcement euro adhoc
--------------------------------------------------------------------------------
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