12.11.2013
Deufol SE DE000A1R1EE6
DGAP-Adhoc: Deufol SE: Results of the first nine months 2013
Deufol SE / Key word(s): Quarter Results
12.11.2013 12:53
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The issuer is solely responsible for the content of this announcement.
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Deufol SE: Results of the first nine months 2013
- Sales after nine months EUR 238.7 million (previous year EUR 248.5
million)
- EBITDA after nine months EUR 11.0 million (previous year EUR 12.6
million)
- EBITA after nine months EUR 5.3 million (previous year EUR 6.0 million)
- Operating cash flow after nine months EUR 12.1 million (previous year
EUR 10.3 million)
Hofheim, November 12, 2013
Sales trend
The Deufol Group's cumulative sales amounted to EUR 238.7 million in the
first nine months of 2013. This decline in sales of approx. EUR 9.8 million
or 3.9 % on the same period in the previous year overwhelmingly reflects
the lower volume of Data Packaging business in the USA, lower sales in
Tienen, Belgium, as well as slightly negative tendencies for several
export-dependent sectors in Germany, in line with the economic trend.
Growth in many areas has offset the adverse effects of Data Packaging in
the USA and the Belgian automotive sector, but has not been able to fully
make up for this. The trend has stabilized in the USA and Belgium which are
now providing solid contributions, albeit at a lower level than in the
previous year. In the USA/Rest of the World segment, sales were 12 % lower
than in the previous year, at EUR 45.3 million. In contrast, in Germany
sales were at EUR 130.5 million a good 3 % lower than in the previous year,
while in the Rest of Europe at EUR 62.9 million sales were almost 1 %
higher than in the previous year.
Income trend
The operating result (EBIT) after nine months of the year amounts to EUR
5.3 million (previous year: EUR 6.0 million). The individual segments
developed as follows in the first nine months of the year: In Germany, the
EBITA amounted to EUR 4.5 million. Due to several customers' restraint in
the export-dependent mechanical engineering sector, this was EUR 1.3
million lower than in the previous year.
In the Rest of Europe, EBITA fell from EUR 4.0 million to EUR 3.1 million.
This was mainly due to the lower results for our Belgian location in
Tienen. However, the decrease here was partly made up for through improved
results in other countries.
The USA/Rest of the World segment realized a result of EUR 0.5 million
(previous year: EUR 1.8 million). Data Packaging suffered here due to the
consolidation trend in the data packaging sector at the start of the year.
The other sectors have now stabilized in terms of their earnings and have
performed well, thus somewhat compensating for Data Packaging's lower
operating result.
The EBITA loss of Deufol SE (the holding company) declined sharply, to EUR
3.0 million, compared to EUR 5.5 million in the previous year.
Earnings before taxes (EBT) in the first nine months of the year were EUR
2.91 million (previous year: EUR 3.55 million). After income tax expenses
(EUR 1.75 million), income from continuing operations is EUR 1.16 million,
compared to EUR 1.66 million in the first nine months of 2012. The result
for the period also amounted to EUR 1.16 million (previous year: EUR 1.38
million). After deduction of the profit shares of noncontrolling interests
(EUR 0.14 million), a net profit of EUR 1.02 million (previous year: EUR
1.01 million) is attributable to the shareholders of Deufol SE. Earnings
per share in the first nine months were EUR 0.023 (previous year: EUR
0.023).
Financial position
In the first nine months, the cash flow provided by operating activities
amounted to EUR 12.1 million and was thus higher than the level in the
previous year (EUR 10.3 million).
The financial liabilities of the Deufol Group decreased in the first nine
months of the fiscal year by EUR 6.3 million to EUR 64.7 million. As cash
and financial receivables both decreased (− EUR 1.8 million), net financial
liabilities declined at a slightly lower rate, from EUR 55.0 million at the
end of the year to the current EUR 50.5 million.
Key data of the first nine months 2013
cha- cha- Q3 Q3 nge 9M 9M nge figures in EUR thousand 2013 2012 (%) 2013 2012 (%) Sales 84,273 90,507 (6.9) 238,692 248,466 (3.9) EBITDA 4,441 5,678 (21.8) 11,004 12,600 (12.7) EBITA = EBIT 2,573 3,514 (26.8) 5,310 6,028 (11.9) EBT 1,799 2,755 (34.7) 2,913 3,547 (17.9) Income from continuing operations 1,231 2,316 (46.8) 1,157 1,660 (30.3) Income (loss) from discontinued operation 0 9 n/m 0 (283) n/m Income for the period 1,231 2,325 (47.1) 1,157 1,377 (16.0) of which attributable to noncontrolling interests 78 152 (48.7) 142 364 (61.0) of which attributable to equity holders of parent 1,153 2,173 (46.9) 1,015 1,013 0.2 Earnings per share (EUR) 0.027 0.050 (46.9) 0.023 0.023 0.2 Operating cash flow 4,920 4,625 6.4 12,076 10,293 17.3 Investm. in tangible assets 1,384 1,067 29.7 4,356 5,776 (24.6) Net financial liabilities 50,523 57,738 (12.5) 50,523 57,738 (12.5) Equity ratio (%) 43.5 42.0 3.5 43.5 42.0 3.5 Employees (September 30) 2,718 2,736 (1.9) 2,718 2,736 (1.9)Outlook Despite encouraging progress in transforming the Company to place it on a sustainable footing - in an environment characterized by restraint in the mechanical engineering sector - we have been unable to make up for the challenging start to the year and are accordingly revising our target earnings for fiscal year 2013. We now expect an operating result (EBITDA) of between EUR 15 million and EUR 17 million (previously, EUR 18 million to EUR 20 million). For our sales, we confirm our planning figures in a corridor between EUR 310 million and EUR 325 million. The Interim Financial Report is available on the internet at http://www.deufol.com. Contact: Deufol SE Claudia Ludwig Johannes-Gutenberg-Strasse 3-5 65719 Hofheim (Wallau) Tel.: +49 (6122) 50 1228 E-mail: [email protected] 12.11.2013 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Deufol SE Johannes-Gutenberg-Straße 3-5 65719 Hofheim (Wallau) Germany Phone: +49 (6122) 50 1228 Fax: +49 (6122) 50 1300 E-mail: [email protected] Internet: www.deufol.com ISIN: DE000A1R1EE6 WKN: A1R1EE Indices: CDAX, Classic All Share, DAXsector All Transportation & Logistics, DAXsector Transportation & Logistics, DAXsubsector All Logistics, DAXsubsector Logistics, Prime All Share Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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