EANS-Interim Report: Rosenbauer International AG
Zwischenmitteilung
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Intermediate report of the management transmitted by euro adhoc. The issuer
is responsible for the content of this announcement.
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1st quarter revenues up 8 % at 115.6 Mio EUR (Q1/2011: 107.3 Mio EUR)
EBIT still down year-on-year, at 3.7 Mio EUR (Q1/2011: 6.9 Mio EUR)
New order-intake record of 154.7 Mio EUR (Q1/2011: 125.6 Mio EUR)
Group key data 1-3/2012 1-3/2011 Change in %
Revenue Mio EUR 115.6 107.3 +8%
EBIT Mio EUR 3.7 6.9 (46%)
EBT Mio EUR 4.6 6.8 (32%)
Net profit for the period Mio EUR 3.8 5.3 (28%)
Cash flow from operation
activities Mio EUR (32.3) (28.9)
Total assets Mio EUR 392.2 334.7 +17%
Equity in % of total assets 39.0% 40.9%
Investments Mio EUR 2.0 1.6 +25%
Earnings per share EUR 0.4 0.5 (20%)
Employees as at 31.3. 2,195 2,076 +6%
Order intake Mio EUR 154.7 125.6 +23%
Order backlog as at 31.3. Mio EUR 734.2 431.5 +70%
Public-sector budgets are being affected by the debt crisis. This is placing
further strain on the already tightly-stretched resources of the public sector,
especially in developed markets, and causing a marked reluctance to place new
orders.
In other markets, by contrast, demand has been continuing at a high level. The
differences in the sales opportunities available to the fire equipment sector
around the world have thus become wider still. 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.
Revenue and results trends
The Rosenbauer Group posted consolidated revenues of 115.6 Mio EUR in the 1st
quarter of 2012, 8% up year-on-year (1-3/2011: 107.3 Mio EUR). Both the parent
company in Leonding, Austria and the Group's companies in the USA and Germany
were successful in raising their revenues.
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.
Earnings
At 3.7 Mio EUR, 1st quarter 2012 EBIT was still some way behind that for the
same period of last year (1-3/2011: 6.9 Mio EUR). As well as to the lower gross
margins realized on several of the orders dispatched during the first quarter,
this was due mainly to the additional in-plant expenditure necessitated in the
first quarter for adapting the production operations to the high level of
capacity utilization and to preparations for fulfilling the large-scale major
orders.
A number of measures - such as the additional manufacturing capacity to be put
into service towards the middle of the year - have been initiated to ensure our
ability to deal with the planned production volumes; the full impact of these
measures will start to be felt during the second half of the year.
Moreover, the result in the same period of last year was favorably affected by
gains on exchange. This explains why the 1st-quarter EBIT margin of 3.2% was
still below the average level of recent years.
The 'Finance cost' improved by around one million euros year-on-year, largely
due to negative value adjustments of futures contracts from the previous year
and to the Group's higher earnings from joint ventures. EBT for the 1st quarter
of 2012 came to 4.6 Mio EUR (1-3/2011: 6.8 Mio EUR).
Orders
The Group's order intake rose yet again, reaching a record high of 154.7 Mio EUR
in the 1st quarter, a year-on-year increase of 23% (1-3/2011: 125.6 Mio EUR). At
734.2 Mio EUR (March 31, 2011: 431.5 Mio EUR), the reserve of unfilled orders at
March 31, 2012 is also at an all-time high, thanks to the excellent 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.
Outlook
The large reserve of unfilled orders, and the favorable situation regarding
project business, are keeping production capacity fully utilized during the
current year 2012. After a year of consolidation, the growth trend of recent
years is set to be resumed, with expected revenues of well above 600 Mio EUR and
a targeted EBIT margin of over 7%.
end of announcement euro adhoc
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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: English
Original content of: Rosenbauer International AG, transmitted by news aktuell