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INDUS Holding AG
Earnings Release • May 15, 2017
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Earnings Release
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Corporate | 15 May 2017 07:29
INDUS confirms forecast after first quarter
DGAP-News: INDUS Holding AG / Key word(s): Quarter Results
15.05.2017 / 07:29
The issuer is solely responsible for the content of this announcement.
INDUS confirms forecast after first quarter
– Good start to the year: Revenues up 14.5%, EBIT up 13.8%
– Two acquisitions integrated into automation, measuring and control technology segment
Bergisch Gladbach, 15 May 2017 – Supported by the stable economic environment, the INDUS Group continued its good business trend in the first quarter of 2017. Sales revenues increased by 14.5% to EUR 381.0 million (Q1 previous year: EUR 332.8 million). Earnings before interest and taxes (EBIT) came in at EUR 34.7 million (Q1 previous year: EUR 30.5 million). Adjusted for effects of initial consolidations, EBIT amounted to EUR 38.0 million (Q1 previous year: EUR 32.6 million). At EUR 18.6 million, earnings after taxes were up by 16.3% on the previous year’s EUR 16.0 million. The EBIT margin stayed at a good level of 9.1% (Q1 previous year: 9.2%); the same applies to the EBIT margin adjusted for non-operational charges, which reached 10.0% (Q1 previous year: 10.1%).
Operating cash flow declined to EUR -11.9 million (Q1 previous year: EUR -6.3 million), mainly due to the typical seasonal increase in working capital. Net cash used in investing activities, which comprises investments in property, plant and equipment as well as the acquisition of the M+P Group, stood at EUR -27.1 million (Q1 previous year: EUR -10.3 million). At EUR 90.5 million, cash and cash equivalents were clearly below the EUR 127.2 million recorded on 31 December 2016, which had been expected. At 42.2%, the equity ratio was slightly lower than at the end of the year (31 December 2016: 42.4%).
In the period from January to April 2017, INDUS acquired two new direct investments. The M+P Group, Hanover, a measurement technology specialist, and the PEISELER Group, Remscheid, a supplier of high-precision NC rotary tables and NC rotary tilt tables for machine tools, were acquired to further expand the very profitable Engineering segment. Both acquisitions were made in the automation, measurement and control technology sector, a designated growth segment of INDUS.
The current positive economic environment must be weighed against the continued political risks. “The environment in which we operate remains complex. Whether it’s the hard Brexit, protectionist tendencies in the USA or the dangerous developments in Turkey – together with our investments we analyse the possible real economic consequences of the current potential risks and consider them in our plans,” says Jürgen Abromeit, CEO of INDUS.
The INDUS Board of Management confirms its forecast and expects sales revenues to increase to EUR 1.5 billion and EBIT to come in at between EUR 145 million and EUR 150 million in 2017. “Following on from what was a very good first quarter on balance, the coming months will see the focus placed on the successful implementation of the current restructuring projects at two companies from the Automotive and Metals Technology segments,” says Jürgen Abromeit. “Needless to say, we will continue to drive innovations and make new acquisitions at the first and second level to expand our portfolio as a central part of our overall strategy. The first months of the new fiscal year have shown that we were able to stay on the growth track.”
The full interim report for the period ended 31 March 2017 of INDUS Holding AG is available for download at www.indus.de .
Contact:
Nina Wolf & Julia Pschribülla
Public Relations & Investor Relations
INDUS Holding AG
Kölner Straße 32
51429 Bergisch Gladbach
Germany
Tel +49 (0) 022 04 / 40 00-73
Tel +49 (0) 022 04 / 40 00-66
E-mail [email protected]
E-mail [email protected]
15.05.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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| Language: | English |
| Company: | INDUS Holding AG |
| Kölner Straße 32 | |
| 51429 Bergisch Gladbach | |
| Germany | |
| Phone: | +49 (0)2204 40 00-0 |
| Fax: | +49 (0)2204 40 00-20 |
| E-mail: | [email protected] |
| Internet: | www.indus.de |
| ISIN: | DE0006200108 |
| WKN: | 620010 |
| Listed: | Regulated Market in Dusseldorf, Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |