EANS-Interim Report: SIMONA AG
Zwischenmitteilung
-------------------------------------------------------------------------------- Intermediate report of the management pursuant to section 37x of the WpHG transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------------------
Interim Announcement within the First Half of 2011
SIMONA increases revenues and earnings in first quarter
Kirn, 4 May 2011. The SIMONA Group made a good start to the 2011 financial year. Sales revenue rose by 28.9 per cent to EUR76.9 million in the first quarter. Returning to a level in excess of the Group's target, revenue was up considerably on the figure posted for the first quarter of 2010, which had been adversely affected by the financial and economic crisis. In March 2011, the SIMONA Group recorded its highest monthly revenue since the inception of the company. Within this context, revenue was driven in particular by much improved investment spending on the part of SIMONA's major export-oriented customer groups, the chemical industry and the mechanical engineering sector. Against the backdrop of spiralling commodity prices, revenue growth was considerably higher than the expansion of sales volumes in the first quarter.
PE and PP sheets used for chemical tank and apparatus construction as well as by the photovoltaic industry made an above-average contribution to growth. In parallel, PVC foam sheets for applications in the field of advertising and structural engineering performed well in the period under review. Business in the area of PP pipes and fittings for industrial applications also produced considerable forward momentum, whereas revenue generated through PE pipes contracted.
As regards the procurement of raw materials used by SIMONA, the current situation continues to be dominated by supply-side shortages and elevated prices. This, in turn, has exerted downward pressure on the Group's gross margin. Pre-tax profit totalled EUR5.4 million (Q1 2010: EUR2.6 million) in the first quarter. The EBIT margin stood at 7.0 per cent.
There were no significant changes to the company's financial position or cash flows in the first three months of 2011.
For the financial year 2011 as a whole, the SIMONA AG has set a revenue target of EUR290 million. Within this context, the percentage share of revenue attributable to the region of America, Asia & Australia is to be further expanded. Despite the continued rise in commodity prices, profitable growth remains a top priority; the target for Group earnings before taxes has been set at EUR15 million.
The Management Board
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Branche: Chemicals
ISIN: DE0007239402
WKN: 723940
Börsen: Berlin / free trade
Frankfurt / regulated dealing/general standard
Original content of: Simona AG, transmitted by news aktuell