PRESS RELEASE: INDUS reports strong third quarter
DGAP-News: INDUS Holding AG / Key word(s): Quarter Results INDUS reports strong third quarter
21.11.2013 / 08:00
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INDUS reports strong third quarter
- Results for Q3: Sales revenues EUR 314.3 million, EBIT EUR 32.3 million, EBIT margin 10.3%
- Positive performance expected to continue in 2014
Bergisch Gladbach, 21 November 2013 - The business of INDUS Holding AG improved from quarter to quarter in 2013. Consolidated sales revenues increased to EUR 887.1 million at the nine-month stage (Q1-Q3 2012: EUR 830.0 million). INDUS generated EBIT of EUR 85.3 million (Q1-Q3 2012: EUR 81.2 million) and an EBIT margin of 9.6% (Q1-Q3 2012: 9.8%). At EUR 43.5 million, net income for the period clearly exceeded the prior year level (Q1-Q3 2012: EUR 37.9 million).
INDUS grows as announced at the beginning of the year
Sales revenues of the INDUS Group have grown by approx. 7% in the year to date. This growth is attributable both to the partial consolidation of the six new acquisitions and to additional organic growth. The strongest growth was reported in the Mechanical Engineering segment, where the two largest new additions, BUDDE and ELTHERM, were consolidated for the first time. Due to depreciation effects from the first-time consolidation, the operating results of these companies are included in the segment results only to a limited extend. Earnings before interest and taxes (EBIT) of the Mechanical Engineering segment nevertheless increased by 20%. The Vehicle Engineering segment also showed an above-average performance, with sales revenues growing by 6% and earnings up by approx. 40%, which reflects the profit-enhancing measures announced at the beginning of the year. The Medical Engineering segment performed reliably and generated a strong margin. The Construction/Infrastructure segment reported particularly strong growth in the third quarter, thus offsetting the weakness of the beginning of the year. As a result, sales revenues and earnings of this segment reached the prior year level at the nine-month stage. Metal Engineering showed a similar performance, whose sales revenues increased by approx. 2%; due to minor one-time effects and price pressure, the segment's margin declined moderately, however.
Cash flow increases, net debt and equity capital remain stable
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PRESS RELEASE: INDUS reports strong third quarter