27.03.2017
INDUS Holding AG DE0006200108
DGAP-News: INDUS Holding AG: INDUS reports fourth record year in a row
DGAP-News: INDUS Holding AG / Key word(s): Final Results
INDUS Holding AG: INDUS reports fourth record year in a row
27.03.2017 / 10:00
The issuer is solely responsible for the content of this announcement.
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INDUS reports fourth record year in a row
* 2016 revenues up 4.0%; EBIT up 6.3%
* Forecast for 2017 confirms growth strategy
Bergisch Gladbach, March 27, 2017 - In spite of a complex environment, the
INDUS Group recorded strong growth in the fiscal year 2016. "Our long-term
strategy of growing our portfolio through acquisitions and
internationalisation pays off especially in troubled times," said Jürgen
Abromeit, CEO of INDUS, at today's annual accounts press conference in
Düsseldorf.
Sales revenues and EBIT exceed expectations
2016 saw the INDUS Group generate record revenues of EUR 1,444.3 million
(previous year: EUR 1,388.9 million), especially thanks to a strong second
and fourth quarter. Earnings before interest and taxes (EBIT) of the INDUS
Group climbed 6.3% to EUR 144.9 million (previous year: EUR 136.3 million).
Adjusted for non-operational charges resulting from initial consolidation,
EBIT amounted to EUR 155.4 million (previous year: EUR 145.8 million). An
EBIT margin of 10% (previous year: 9.8%) and an adjusted EBIT margin of
10.8% (previous year: 10.5%) mean that the Group clearly reached its
strategic margin target of "10% plus".
Earnings before taxes increased to EUR 123.4 million (previous year: EUR
109.3 million), while earnings after taxes rose by 17.7% to EUR 80.4 million
(previous year: EUR 68.3 million). At 34.8%, the Group's tax rate was again
in line with the long-term trend. Earnings per share stood at EUR 3.27
(previous year: EUR 2.78). The Board of Management and the Supervisory Board
will propose to raise the dividend by EUR 0.15 to EUR 1.35 to the Annual
General Meeting on May 24, 2017.
Highly profitable segments increase their share in total revenues
The INDUS Group currently comprises 45 companies operating in five business
segments. The segments generating the highest margins, i.e.
Construction/Infrastructure, Engineering as well as Medical Engineering/Life
Science, were able to increase their respective shares in the Group's total
sales revenues. The EBIT margins in the Construction/Infrastructure and
Engineering segments again picked up slightly and reached 14.3% and 13.5%,
respectively (previous year: 14.2% and 13.3%), whereas the margin in the
Medical Engineering/Life Science segment declined moderately to 13.7% at the
highest level (previous year: 14.9%). Earnings in the Automotive Technology
segment stabilised towards the end of the year. Due to the Russian boycott
and the VW emissions scandal, however, the segment's EBIT margin of 5.4%
stood at the lowest end of the projected range (previous year: 5.8%). The
EBIT margin of the Metals Technology segment increased to 8.7% (previous
year: 7.9%), which was primarily due to successful repositionings in the
powder metallurgy and galvanisation segments.
Growth strategy supported by comfortable net assets and financial position
INDUS' balance sheet ratios remained stable in 2016. Net debt amounted to
EUR 376.6 million (previous year: EUR 356.3 million), while equity increased
to EUR 644.6 million (previous year: EUR 595.4 million), leading to a
slightly higher equity ratio of 42.4% (previous year: 41.9%).
Net-debt-to-EBITDA stayed at the prior year level of 1.9 years. Gearing
(net-debt-to-equity) declined moderately to 58% (previous year: 60%).
At EUR 114.5 million, cash flow from operating activities was slightly lower
than in the previous year (EUR 130.9 million), primarily because more
capital was tied up in inventories. Cash and cash equivalents of EUR 127.2
million (previous year: EUR 132.2 million) will cover the planned fixed
asset investments of roughly EUR 75 million as well as additional
acquisitions. INDUS plans to invest roughly EUR 50 million in several growth
acquisitions and strategic additions in 2017.
In the first quarter of 2017, the INDUS Group already acquired M+P
INTERNATIONAL from Hanover, a supplier of measurement and test systems for
vibration control and analysis. Promising negotiations with a company from
the engineering sector are underway. Besides the defined growth industries
of energy and environmental technology, infrastructure and logistic
technology, automation, control and measurement technology as well as
medical engineering and life science, INDUS has expanded its target focus
for acquisitions to include construction and security technology.
A fresh approach to the future: Further growth planned for 2017
In spite of the complex environment and growing general uncertainty, INDUS
CEO Jürgen Abromeit is optimistic about the growth prospects of the INDUS
Group: "Megatrends such as greentech, digitisation, medical engineering,
innovative construction technology as well as public and private security
will clearly open up growth opportunities to Germany's small and
medium-sized enterprises. When it comes to seizing these opportunities,
INDUS assists its portfolio companies with effective advice and additional
support to drive innovation." But he also sees political risks. "The
importance of a globalised world economy without trade barriers cannot be
overrated. This especially applies to the development of new markets for new
products," Jürgen Abromeit said.
Many economic experts project somewhat greater momentum for the world
economy and Germany in 2017. Against this background and based on the
projections of the INDUS subsidiaries, INDUS projects consolidated sales
revenues in excess of EUR 1.5 billion and earnings before interest and taxes
of between EUR 145 million and EUR 150 million for 2017.
The full Annual Report of INDUS Holding AG is available for downloading at
www.indus.de. To take advantage of the augmented reality function in the
Annual Report, please use the INDUS app, which is available for downloading
on our website under "Press/Service".
Key figures of the INDUS Group
in EUR millions 2016 2015
Sales 1,444.3 1,388.9
of which domestic 735.5 709.0
of which abroad 708.8 679.9
EBITDA 200.9 186.4
Adjusted EBIT 155.4 145.8
EBIT 144.9 136.3
EBT 123.4 109.3
Net income for the year 80.4 68.3
(Earnings after taxes)
Total assets 1,521.6 1,419.8
Group equity 644.6 595.4
Net debt 376.6 356.3
Group equity ratio (in %) 42.4 41.9
Operating cash flow 137.9 157.3
Cash flow from operating activities 114.6 130.9
Cash flow from investing activities -104.5 -112.8
Cash flow from financing activities -14.9 -3.1
Cash and cash equivalents as at Dec. 31 127.2 132.2
Earnings per share (in EUR) 3.27 2.78
Cash flow per share (in EUR) 4.69 5.36
Dividend per share (in EUR) 1.35* 1.20
(*to be proposed to the AGM on May 24, 2017)
Segments
in EUR millions Sales EBIT
2016 2015 2016 2015
Construction/Infrastructure 274.5 235.5 39.2 33.5
Automotive Technology 372.2 367.7 20.3 21.4
Engineering 305.9 293.2 41.4 39.0
Medical Engineering/Life Science 147.0 132.3 20.2 19.7
Metals Technology 344.4 359.9 29.9 28.6
Contact:
Nina Wolf & Julia Pschribülla
Public Relations & Investor Relations
Tel +49 (0) 022 04 / 40 00-73
Tel +49 (0) 022 04 / 40 00-66
E-Mail [email protected]
E-Mail [email protected]
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Language: English
Company: INDUS Holding AG
Kölner Straße 32
51429 Bergisch Gladbach
Germany
Phone: +49 (0)2204 40 00-0
Fax: +49 (0)2204 40 00-20
E-mail: [email protected]
Internet: www.indus.de
ISIN: DE0006200108
WKN: 620010
Listed: Regulated Market in Dusseldorf, Frankfurt (Prime
Standard); Regulated Unofficial Market in Berlin, Hamburg,
Hanover, Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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