euro adhoc: Binder+Co Aktiengesellschaft
Financial Figures/Balance Sheet /
Binder+Co figures continue to show sharp increases in Q3/2008
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
9-month report
18.11.2008
Gleisdorf, November 18, 2008. The positive mood in Binder+Co´s branches and markets, as well as the excellent order situation, enabled the Styria-based machinery manufacturer and plant builder to achieve another marked improvement in all its key indicators during the third quarter of 2008. Quarterly sales rose to EUR 19.48 million (Q3/2007: EUR 13.46 million), EBIT doubled to EUR 2.17 million (Q3/2007: EUR 1.10 million) and order intake was also notably higher at EUR 20.91 million (Q3/2007: EUR 15.72 million).
Sales rose by 35.8% to EUR 51.03 million In total, Binder+Co was able to increase its sales for the first three quarters 2008 by 35.8% to EUR 51.03 million (Q1-Q3/2007: EUR 37.57 million). The main factor in this striking growth rate was the clearing of numerous systems projects and orders for individual machines during the period under review, in tandem with strong spare parts and service sales in all of the three Processing Technology, Environmental Technology and Packaging Technology segments.
EBIT nearly doubled to EUR 4.93 million Binder+Co AG EBIT rose by EUR 2.38 million, or 93.3%, to EUR 4.93 million and was thus virtually double that of the comparable period of 2007 (Q1-Q3/2007: EUR 2.55 million). The main element in this increase, which was disproportionately large in comparison with sales, was the clearing of single machine and spare parts orders with sizeable margins.
Order intake up by 80.5% at EUR 73.03 million Company order intake in the first three quarters of 2008 was also outstandingly positive, amounting to EUR 73.03 million, or nearly twice the figure for the same period of the previous year (Q1-Q3/2007: EUR 40.45 million). At the end of September 2008, Binder+Co had an order backlog of EUR 42.07 million, which was well above the comparable figures for the preceding year (December 31, 2007: EUR 20.07 million, September 30, 2007: EUR 18.90 million) and forms a solid basis for use of capacity and sales in the months to come.
Outlook In spite of the generally subdued economic mood, demand in Binder+Co´s branches and markets in recent months continued to be extremely robust. Against this background and in view of the high order backlog of EUR 42.07 million as at September 30, 2008, the Binder+Co management expects that sales and EBIT for the year as a whole will be well above the levels of 2007. In view of the global financial crisis, in 2009 the company will seek to at least maintain the 2008 sales and earnings objectives.
Binder+Co share shows moderate losses In line with the general market trend, during the period under review the price of the Binder+Co AG share, which is listed on the Vienna Stock Exchange mid market, showed a downward trend, but performed far better than the market as a whole. On the basis of a level of EUR 12.79 at the beginning of 2008, the price fell by around 7.0% in the first nine months of the year and as at September 30, 2008, stood at EUR 11.89. In the same period, the ATX was down by around 38.6%.
Share buy-back In May 2008, Binder+Co commenced the buy-back of shares up to a volume of 10% of share capital, approved by the Annual General Meeting of Shareholders on March 26, 2008. The repurchased shares are intended for issue to Binder+Co AG employees in the course of a stock option programme and by September 30, 2008, 56,247 shares had been purchased at an average price of EUR 11.73.
Binder+Co Binder+Co AG is a specialist in the fields of processing, environmental and packaging technology and the world market leader in the screening and glass recycling segments. The company has been listed on the Vienna Stock Exchange since December 2006 and in June 2007 was admitted to the new mid market segment. It has been authorised to participate in regulated free trading since July 2007. In 2007, Binder+Co had an average workforce of 214, sales amounting to EUR 53.4 million and EBIT of EUR 4.9 million. The company therefore had a solid EBIT margin of 9.2%.
end of announcement euro adhoc
Further inquiry note:
Karl Grabner, Member of the Board
Tel.: +43 (0) 3112/800-363
Branche: Machine Manufacturing
ISIN: AT000BINDER3
WKN:
Index: mid market
Börsen: Wiener Börse AG / Regulated free trade