euro adhoc: Eybl International AG
quarterly or semiannual financial statement
/ Eybl International AG releases its results for the 1st qtr 2006/07
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
27.07.2006
Market position consolidated further - slight sales growth achieved Operating results (EBIT) slightly above last year at EUR 2.4 million Cash flow from operating business significantly above last year Liquid assets rose to EUR 10.2 million (against EUR 6.4 million in 1st qtr 2005/06)
Krems, 27 July 2006. Eybl International AG today published its results for first quarter 2006/07. Sales could be raised in the first quarter of the current business year from EUR 87.5m in the first quarter of 2005/06 to EUR 88.7m. Operating profits (EBIT) of EUR 2.4m likewise were EUR 0.1m above last year's level of EUR 2.3m. The EBIT margin stayed at the same level at 2.7 percent. Due to weak evaluation of the EUR/HUF swap on the closing date of 30 June 2006, however, the period's results were negative at EUR -0.6m. This also affected POA which on the closing date came to EUR -0.83m (1st qtr 2005/06: EUR 1.3m). Cash flow from operating business at EUR 1.2m showed a clear improvement over the results of 1st qtr 2005/06 when it was EUR 0.8m. At EUR 10.2m liquid funds were likewise on a pronounced rise over last year's reporting period (EUR 6.4m).
Premium orders: Eybl increasingly supplying for Audi A6 and the BMW's series 3
As of 26 July 2006 the stock of incoming orders came to EUR 99.4m bringing total orders in hand to EUR 1,050m. It is precisely German automotive manufacturers of the premium class that have increasingly put their trust in products from Eybl International: BMW is furnishing its series 3 coupe and convertible with leather seats from Eybl International that are fabricated at the company's Hungarian and Romanian sites. For Audi A6 Eybl International supplies leather seat covers produced at Hungarian and Slovakian sites. A further 3-year cooperation agreement could be confirmed with TRW. Altogether more than one million steering wheels from Eybl International are to be covered in leather in the next three years for TRW at the Deta site.
Asset and capital structure suffered from the euro-forint exchange rate on the closing date
As of the closing date of 30 June 2006 Eybl International's total assets came to EUR 254.0m and were thus slightly below the annual closing date level of EUR 258.8m on 31 March 2006. Due to the weak value of the forint on the closing date equity declined by about EUR 1.7 m. On the whole, equity had an absolute value of EUR 51.4m and, taking this extraordinary impact into account, was practically the same as the closing date of the old year (31/03/2006: EUR 53.7m). The equity ratio in the first quarter of 2006/07 was approximately constant at 20.2% when compared with the annual closing date (31/03/2006: 20.7%).
Outlook for the current business year
In production and registration statistics from the European automotive industry the year 2006 does not indicate any essential improvement over recent years. The stagnating sales figures entailed massive cost pressure that was passed on directly to the supplier industry. Only for innovative and financially strong supplier companies is active influence on the added value chain possible. Eybl International here pursues a clear-cut innovation and cost optimisation strategy. By efficiently combining its production capacity and targeted sustained market activities such as extending the addressable market the cost situation is to be continuously improved. In the current business year an improvement in the earnings position is being aimed at and, beyond it, a rise in capital return.
Facts & Figures (in million EUR)
2006/07 2005/06 2004/05 Sales 88.7 87.5 86.3 EBIT 2.4 2.3 3.1 EBIT margin in % 2.7 2.7 3.5 Surplus of the period/deficiency -0.6 1.1 2.1 Order backlog 1,050 1,205 1,371
About Eybl International Eybl International AG, traded on the Vienna stock exchange, is an internationally recognized manufacturer of interior components for automotive interiors that has specialised in production of automotive textiles, fabrication of seat covers made of fabric or leather or fabric/leather combinations and in lining or covering for special interior parts. The group with its headquarters in Krems employs about 4,000 men and women at 14 sites in Austria, Hungary, Romania, Germany, France, Slovakia as well as in Spain and the UK. Eybl International is currently the largest Austrian company in the automotive supplier sector as well as being Austria's largest textile producer by sales.
end of announcement euro adhoc 27.07.2006 08:30:00
Further inquiry note:
Eybl International AG
Investor Relations
Robert Gabriel
Tel.: +43 (0) 2732 881-300
Fax: +43 (0) 2732 881-79
mailto:robert.gabriel@eybl-international.com
Branche: Speciality stores
ISIN: AT0000908157
WKN: 914117
Index: WBI, ATX Prime
Börsen: Wiener Börse AG / official market