EANS-Interim Report: Rosenbauer International AG
Zwischenmitteilung
-------------------------------------------------------------------------------- Intermediate report of the management transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------------------
First quarter revenues slightly lower as expected; Order intake of 125.6 Mio Euro (Q1/2010: 116.4 Mio Euro) is above previous year's figure
GROUP KEY DATA | |1-3/2011 |1-3/2010 | Revenue |Mio Euro |107.3 |114.2 |(6%) EBIT |Mio Euro |6.9 |8.1 |(15%) EBT |Mio Euro |6.8 |5.9 |15% Net profit for the period |Mio Euro |5.3 |4.6 |15% Cash flow from operating activities |Mio Euro |(28.9) |(37.1) |- Total assets |Mio Euro |334.7 |353.5 |(5%) Equity in % of total assets | |40.9% |28.7% |43% Investments |Mio Euro |1.6 |2.0 |(20%) Earnings per share |Euro |0.5 |0.4 |25% Employees as at March 31 | |2,076 |1,987 | 4% Order intake |Mio Euro |125.6 |116.4 |8% Order backlog as at March 31 |Mio Euro |431.5 |500.0 |(14%) After a certain time-lag, the financial and economic crisis has now also left its mark on the fire equipment sector. Certain markets, prime among them the USA as the world´s largest single market, started reacting to the economic crisis in 2009, with a noticeable reluctance to place orders. The German market followed a year later, shrinking by around 15% in 2010. The increasing budgetary constraints upon local municipalities mean that the German market is likely to decline by a further 10% in 2011. The picture in emerging markets is a very varied one: While there are already indications of market saturation in several countries, in regions such as the Middle East there is still a great need for modernization. This is also reflected in today´s large arena for project business. High oil revenues and the need for catch-up investments in the field of safety infrastructure are the two main drivers of capital spending in these markets. What is more, the heightened awareness of security needs in the wake of global catastrophes and terrorist attacks is another factor influencing public-sector procurement behavior. The Rosenbauer Group posted slightly lower consolidated revenues of 107.3 Mio Euro in the 1st quarter of 2011 (1-3/2010: 114.2 Mio Euro). Although a number of export shipments from Austria were deferred into the next quarter, deliveries to Russia were stepped up still further, leading to a significant increase in the revenues of the German Segment. In the fire equipment sector, the 1st quarter is generally typified by lower revenues and margins. This is due to the fact that the majority of shipments tend to be in the second half of the year. However, this seasonal dependency during the fiscal year is often smoothed by centrally directed procurement that does not fall under public-sector revenue and expenditure budgets. The slight fall-back in Group revenues meant that first-quarter EBIT also came in somewhat lower year-on-year, at 6.9 Mio Euro (1-3/2010: 8.1 Mio Euro), corresponding to a still highly satisfactory EBIT margin of 6.5% (1-3/2010: 7.1%). Furthermore, the finance cost improved by around two million euros on the same period of last year, mainly due to the Group´s taking a larger share of the result of the joint venture in Russia and due to value adjustments from futures contracts. This improvement led to a highly satisfactory EBT figure of 6.8 Mio Euro (1-3/2010: 5.9 Mio Euro). The Group´s order intake in the 1st quarter of 2011 climbed to 125.6 Mio Euro, 8% above the figure for the same period of last year (1-3/2010: 116.4 Mio Euro). At 431.5 Mio Euro (March 31, 2010: 500.0 Mio Euro) the reserve of unfilled orders at March 31, 2011 remains at a high level, thanks to the buoyant order trend of recent months. This means that the Rosenbauer Group can be sure of good capacity utilization at its manufacturing facilities, and also gives it a fairly clear view of the likely course of revenues for the rest of this year. The volume of order backlog and the current project situation, together permit a clear view ahead regarding utilization of production capacity during 2011. After the record year Rosenbauer enjoyed in 2010, Management expects 2011 to bring a consolidation of the revenue and income figures at a level that is above the average for the past two years.
end of announcement euro adhoc --------------------------------------------------------------------------------
issuer: 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: EnglishFurther inquiry note:
Branche: Machine Manufacturing
ISIN: AT0000922554
WKN: 892502
Index: WBI, ATX Prime
Börsen: Berlin / free trade
Stuttgart / free trade
Wien / official market
Original content of: Rosenbauer International AG, transmitted by news aktuell