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DGAP-News: Grammer AG / Key word(s): Quarter Results Grammer AG with strong increase in revenues and earnings

11.11.2013 / 06:55

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Grammer AG with strong increase in revenues and earnings

Revenues in first nine months up 12.0 % to EUR 952.9 million EBIT grows even faster, up 22.7 % to EUR 43.3 million Profit after tax up 24.5 % to EUR 23.9 million

Amberg / Germany, November 11, 2013 - Grammer AG, leading specialist in seating systems and components for car interiors could continue its successful business performance in the last quarter, showing a strong increase in both revenues and earnings. In the period from January to September, Grammer Group revenues increased by 12.0 percent from EUR 850.5 million in the previous year to EUR 952.9 million in 2013. The operating result (EBIT) was boosted by as much as 22.7 percent, from EUR 35.3 million to EUR 43.3 million. The EBIT margin increased accordingly by 0.3 percentage points to 4.5 percent. After the first nine months of the 2013 financial year Grammer Group achieved a profit after tax of EUR 23.9 million, representing an improvement of 24.5 percent over the previous year.

Looking only at the last quarter, the Group revenues between July and September 2013 rose from the previous year's level of EUR 283.3 million to EUR 310.4 million. The EBIT improved from EUR 11.0 million to EUR 13.2 million, and the profit after tax climbed from EUR 5.9 million in the third quarter of 2012 to EUR 6.6 million this year.

'We are well positioned in all of our markets and could realize market share gains thanks to our innovative products. This is true for all regions and for both divisions. With the strong increase in revenues, we are especially pleased that we were able not only to achieve a higher overall result, but also could improve the profitability of the Group,' said Hartmut Mller, CEO of Grammer AG.

Very dynamic growth in the Automotive Division In the first nine months of the 2013 financial year, revenues of the Automotive division increased significantly by 15.7 percent to EUR 607.2 million. This very positive development was based on strong organic growth, higher sales from development projects and the acquisition of nectec Automotive s.r.o. in the spring of this year. The ongoing weakness of the European car market could be compensated by Grammer with higher sales in China and North America. In addition the positive development of the Automotive division was also supported by a continuing high demand of the premium segment world-wide. The operating result (EBIT) amounted to EUR 24.7 million (2012: 21.4), increasing almost at the same rate as revenues and was also influenced by cost for set-up of new plants and customer projects. In the third quarter, revenues of the Automotive division improved from EUR 180.8 million in the previous year to EUR 201.1 million.

Seating Systems Division with significantly higher profitability The Seating Systems division could achieve an increase in revenues of 6.4 percent to EUR 361.1 million (2012: 339.4) in the first nine months of the 2013 financial year. The ongoing weakness of the European truck market could be compensated by Grammer by gaining additional market shares. In Brazil, which is an important market for Grammer, the demand for trucks in the first nine months was up significantly from the weak previous year's levels. In addition, Grammer could also achieve higher revenues in the North American offroad market. A very gratifying development for the Seating Systems division was a further increase in its operating result (EBIT) to EUR 27.0 million (2012: 19.8). Accordingly, the EBIT margin surged by 1.7 percentage points to 7.5 percent (2012: 5.8). In the third quarter of 2013, Seating Systems revenues increased from EUR 106.7 million in the corresponding period of 2012 to now EUR 115.0 million.

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PRESS RELEASE: Grammer AG with strong increase in revenues and earnings

DGAP-News: Vtion Wireless Technology AG / Key word(s): Quarter Results Vtion Wireless Technology confirms Outlook

11.11.2013 / 08:58

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Vtion Wireless Technology confirms Outlook

Frankfurt, 11 November 2013. Vtion Wireless Technology AG, one of the leading suppliers of wireless data solutions for mobile computing in China, announces its preliminary results for the first nine months of 2013. Revenues reached 45.3 million Euros in this reporting period, with an EBIT margin of 8%. Based on the company's current expectations, it remains on pace to reach the bottom end of its full year guidance.

Preliminary financial results of the first nine months of 2013

Revenues decreased by 23%, from 58.73 million Euros between January and September 2012 down to 45.26 million Euros in the first nine months 2013. Vtion's EBIT margin increased from 7% in Q2 2013 to 10% in the third Quarter on a revenues-basis of 17.5 million Euros.

Chen Guoping, CEO of Vtion Wireless Technology commentates: 'At present, our wireless data terminals business remains a reliable driver of our financial results. I am pleased that we have remained profitable in this core business segment. In the future, we will seek to provide the comprehensive computing solutions customized for certain industries as well as expand our wireless data terminal offerings as 4G technology is introduced to the Chinese market.'

Guidance for the financial year 2013 confirmed

Despite challenging market conditions the company's management team still projects the company will reach its guidance of revenues between 60 and 70 million Euros and an EBIT margin between 8 to 10%. The company expects steady revenues in the fourth quarter, despite the fact that the quarter is typically weaker than the third, due to reduced procurement on the part of the telecom operators heading into year-end.

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PRESS RELEASE: Vtion Wireless Technology confirms Outlook

DGAP-News: Masterflex SE / Key word(s): Quarter Results Masterflex SE: Strong growth over the course of the year

11.11.2013 / 08:05

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Masterflex SE: Strong growth over the course of the year

- Increase in turnover of 10.3% in Q3/2013 making + 5.1% to date

- Roughly stable EBIT margin of 10.5%

- First roll-out stage of staff recruitment completed in Asia

Gelsenkirchen, 11 November 2013: During the course of the first nine months of 2013, the business in Masterflex SE high-tech hoses and connector systems has improved dynamically. In Q3/2013 alone, turnover stood at EUR15.2 million, up around 10.3 percent over the same period over the previous year. For the first nine months of 2013, turnover of EUR44.2 million corresponds to a growth of 5.1 percent.

Dr. Andreas Bastin, Masterflex CEO, sums up: 'Over the last decade, we have never had such good turnover from our high-tech hoses as we had in Q3/2013. After a weak start to the year, our business has increased dynamically. Our international activities in America and Asia have been a significant contributing factor to this. It shows our internationalisation strategy is proving to be effective.'

As planned, operating income (EBIT) has worked out slightly less. The reported EBIT of EUR4.7 million and resulting EBIT margin of 10.5 percent reflect the - predominantly non-capitalisable - roll-out costs, primarily staff costs, needed for expansion in Asia. 'The EBIT slump may now have almost bottomed out yet, looking forward, this will change again', Bastin continues. 'Because the first stage in the roll-out of the sales organisation in Asia has now been completed. Thus, for the first time since 2011, the staff cost ratio over the first nine months has slightly dropped in comparison to 37.2 percent over the first half year (37.7 percent, previous year: 35.6 percent). The focus is now on getting all processes running smoothly as quickly as possible.'

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PRESS RELEASE: Masterflex SE: Strong growth over the course of the year

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By: websuspect

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Godaddy Installing word press themes on wordpress - Video

DGAP-News: Asian Bamboo AG / Key word(s): Quarter Results Asian Bamboo announces Q3 2013 results

08.11.2013 / 06:08

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Hamburg, 8 November 2013 - Asian Bamboo AG ('Asian Bamboo', 'the Company', ISIN: DE000A0M6M79, ticker symbol: '5AB', ADR ticker symbol 'ASIBY'), an integrated company in the bamboo industry, announces the following Q3 and Q1-Q3 results.

In the third quarter the Company's performance remained unsatisfactory, mainly as a result of weak demand for bamboo trees, which led to a decrease in revenue of 36%. Due to good cost control, the Company recorded a small gross profit of EUR 0.6 million and a small net loss if EUR 1.3 million. Stripping out amortisation charges, which are non-cash items, the business remained profitable.

In summary, the Company achieved the following financial results in Q1-Q3 (percentage numbers are year-on-year comparisons):

* Revenue decreased 59% to EUR 25.4 million (Q1-Q3 2012: EUR 61.4 million) * Gross profit including FVBA-changes* decreased 75% to EUR 2.3 million (Q1-Q3 2012: EUR 9 million), equivalent to a gross profit margin including FVBA-changes of 9% (Q1-Q3 2012: 15%) * Net loss of EUR 3.6 million (Q1-Q3 2012: net profit EUR 1.9 million) * Operating cash flow before movements in working capital of EUR 7.4 million (Q1-Q3 2012: EUR 14.9 million) * Net cash generated from operating activities of negative EUR 4.1 million (Q1-Q3 2012: positive EUR 19.3 million) * Cash and cash equivalents of EUR 31 million (31 December 2012: EUR 38.6 million)

*FVBA is an abbreviation for gains/(losses) arising from changes in the fair value less estimated costs to sell of biological assets

At the end of Q3, the Company's balance sheet remained strong (comparable numbers are 2012 year-end numbers):

* Biological assets were EUR 82.8 million (2012: EUR 83.9 million) * Lease prepayments were EUR 188.6 million (2012: EUR 193.4 million) * Cash and cash equivalents were EUR 31 million (2012: EUR 38.6 million) * Total assets were EUR 347.3 million (2012: EUR 348.4 million) * Total bank borrowings were EUR 43.9 million (2012: EUR 46.5 million) * Total equity was EUR 288.2 million (2012: EUR 288 million) * Total liabilities and equity were EUR 347.3 million (2012: EUR 348.4 million)

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PRESS RELEASE: Asian Bamboo announces Q3 2013 results