EANS-News: SMT Scharf AG publishes final 2011 results
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Financial Figures/Balance Sheet
Subtitle: Revenue up 23% to EUR 82.1 million, order book position more than
doubles to EUR 49.6 million / EBIT grows 31% to EUR 14.5 million / Proposed
dividend of EUR 0.95 per share (previous year: EUR 0.85)
Hamm (euro adhoc) - March 8, 2012 - SMT Scharf AG (WKN 575198, ISIN
DE0005751986), technology and world market leader for rail-bound railway systems
for the mining sector, reports significant revenue and earnings growth in the
2011 fiscal year on the basis of final consolidated figures. SMT Scharf Group's
revenue was up by 23% to EUR 82.1 million, compared with EUR 66.7 million in the
previous year. As in 2010 already, the most important market was China, followed
by Russia and other CIS states. Markets outside Germany contributed 90% to total
revenue (previous year: 91%).
At EUR 49.6 million as of the year-end, the order book position more than
doubled compared with a year previously (EUR 23.2 million). This growth is
evidence of the continued strong demand from the SMT Scharf Group's main
markets.
Operating profit (EBIT) rose even more rapidly, by 31% to EUR 14.5 million
(previous year: EUR 11.1 million). The EBIT margin reached 17.7% as a
consequence, compared with 16.6% in 2010. The cost of materials ratio increased
to 58% (previous year: 53%) due to a change in the product mix, and due to
advance work on orders that are to be shipped in 2012. This was partially offset
by a fall to 17% in the personnel expense ratio, which still stood at 19% in the
prior year. Consolidated net income was even as high as EUR 10.7 million thanks
to positive financial results. This implies 33% growth compared with EUR 8.0
million achieved in the previous year.
Dr. Friedrich Trautwein, CEO of SMT Scharf AG, expressed his pleasure with the
Group's successful growth in the 2011 fiscal year: "We won a number of new
customers in the past year, including the first orders from the Ukraine for
several years. This offers us the potential to further expand our business,
which we intend to exploit." Dr. Trautwein went on to add: "Our business is
continuing to run well in the first weeks of 2012. For this reason, we expect
that we will be able to further increase the SMT Scharf Group's revenues and
earnings on average over the coming years."
The Managing and Supervisory Boards are proposing that the Annual General
Meeting for the 2011 fiscal year resolves to distribute a dividend of EUR 0.95
per share. This represents a 37% payout ratio excluding treasury shares. The
dividend yield stands at 3.7% relative to the closing price of the SMT Scharf
share of March 5, 2012.
The complete Group financial report for 2011 will be available on the company's
website during the course of the day at www.smtscharf.com, within the Investor
Relations area.
Company profile
The SMT Scharf group develops, builds and maintains transportation equipment for
mining and tunneling. The main product area is rail-bound railways which are
used all over the world, primarily in hard coal mines and underground mining for
gold, platinum and other metals. They are used to transport material and
personnel with working loads of up to 45 tons on lines with gradients of up to
35 degrees. SMT Scharf´s other key products are roadheaders, equipment for
tunnel support and chairlifts. The SMT Scharf Group has its own companies in
eight countries as well as additional dealerships worldwide. SMT Scharf records
more than 80% of its revenue in growing foreign markets, such as Russia, China
and South Africa. Business with spare parts and repairs accounts for around 40%
of revenue. The entire market for underground transport technology comprises EUR
5 billion to EUR 7 billion per year according to the company´s estimates. SMT
Scharf AG has been listed in the Prime Standard (Regulated Market) of the
Frankfurt Stock Exchange since April 11, 2007.
Further inquiry note:
Investor Relations
cometis AG
Henryk Deter / Patrick Ortner
Tel: +49(0)611 - 205855-16
Fax: +49(0)611 - 205855-66
e-mail: ortner@cometis.de
end of announcement euro adhoc
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company: SMT Scharf AG
Römerstr. 104
D-59075 Hamm
phone: +49(0)2381-960212
FAX: +49(0)2381-960311
mail: ir@smtscharf.com
WWW: http://www.smtscharf.com
sector: Machine Manufacturing
ISIN: DE0005751986
indexes: CDAX, Classic All Share, Prime All Share
stockmarkets: free trade: Berlin, München, Hamburg, Düsseldorf, Stuttgart,
regulated dealing/prime standard: Frankfurt
language: English