EANS-Interim Report: SIMONA AG
Zwischenmitteilung
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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.
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Interim Announcement within the Second Half of 2011
SIMONA in Q3 2011: Slowdown in revenue growth - Good earnings performance
despite persistently high cost of materials
Kirn, 09/11/11. The SIMONA Group again recorded growth both in terms of sales
volumes and revenues over the course of the third quarter of 2011. However, the
overall pace of growth has decelerated. This is attributable primarily to the
bank and national debt crisis, which has been a cause for increasing concern
within the markets since mid-2011. Market uncertainty, in turn, generally has an
adverse effect on the propensity to invest within key customer segments,
particularly the photovoltaic and solar energy industry. In total, the Group
generated sales revenue of EUR 241.2 million (prev. year: EUR 199.7 million) in
the financial year up to 30 September 2011, which was 20.8 per cent more than in
the same period a year ago. In the first half of 2011, by contrast, year-on-year
revenue growth had stood at 25.1 per cent. In the third quarter of 2011, Group
revenue amounted to EUR 78.9 million, compared to EUR 70.0 million in the third
quarter of 2010. This corresponds to an increase of 12.8 per cent.
Within the area of semi-finished products, extruded and pressed sheets made of
polypropylene achieved the highest level of growth. Business expanded at a less
pronounced rate within the area of PVC sheets. In the piping systems division,
fittings made of PE generated significant revenue growth, whereas revenue from
PE pipes declined.
Commodity prices remained very high in the third quarter, although there were
signs of a slight downward trend. In spite of the fact that the high cost of
materials remained almost unchanged, the Group managed to increase EBIT to EUR
5.5 million (Q3 2010: EUR 1.7 million). The EBIT margin stood at 7.0 per cent.
Profit before tax totalled EUR 5.5 million in the third quarter of 2011 (Q3
2010: EUR 1.5 million).
There were no significant changes to the company's financial position or cash
flows in the first nine months of 2011.
Given the noticeable signs of global economic cooling, the SIMONA Group
anticipates that the general business environment will become more challenging
in the fourth quarter. In their Autumn Report, the country's leading economic
research institutes forecast a contraction in economic output in Germany within
the fourth quarter. Despite the more challenging economic climate in the second
half, the Group's targets for the 2011 financial year as a whole, set at EUR 290
million in sales revenue and EUR 15 million in profit before tax, are considered
attainable and may possibly be exceeded.
The Management Board
end of announcement euro adhoc
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issuer: SIMONA AG
Teichweg 16
D-55606 Kirn
phone: +49(0) 6752-14-0
FAX: +49(0) 6752-14-738
mail: info@simona.de
WWW: http://www.simona.de
sector: Chemicals
ISIN: DE0007239402
indexes:
stockmarkets: free trade: Berlin, regulated dealing/general standard: Frankfurt
language: English
Original content of: Simona AG, transmitted by news aktuell