18.05.2016
INDUS Holding AG DE0006200108
DGAP-News: INDUS strengthens its investments through strategic additions
DGAP-News: INDUS Holding AG / Key word(s): Quarter Results
INDUS strengthens its investments through strategic additions
18.05.2016 / 07:30
The issuer is solely responsible for the content of this announcement.
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INDUS strengthens its investments through strategic additions
- Well-filled acquisition pipeline: Four strategic additions completed by
mid-May; negotiations about further portfolio acquisitions underway
- Modest start to the year: Sales revenues up 1.5% in Q1 2016; earnings
after taxes up 0.6% on previous year
Bergisch Gladbach, 18 May 2016 - In the first months of 2016, the INDUS
Group strengthened its organisation through four strategic additions. In
January, BUDDE Fördertechnik acquired COMPUTEC, a specialist for automation
technology, electronics and the programming of control software for
(conveyor) systems. M.BRAUN took over CREAPHYS, a young company operating
in the organic electronics sector. Established as a spin-off from Dresden
Technical University in 1999, the company designs and builds high vacuum
systems and components for organic thin film deposition, vacuum sublimation
systems and thermal evaporators. Its customers include numerous research
institutions in this sector as well as multinational chemical and
electronics companies.
INDUS investment AURORA acquired a majority stake in Oettingen-based AFK, a
specialist for the construction of convectors for utility vehicles, to
extend its value chain. The last strategic acquisition succeeded with the
company CAETEC for IPETRONIK. The new company develops measurement
technology for vehicle testing, primarily in the fields of driver
assistance, bus analysis and on-board power supply, and thus complements
IPETRONIK in the drive train and thermal management sectors.
"With this strategy, we actively develop our investments more than ever
before. Our objectives are very clear: we want to turn the companies into
more innovative and more international specialists by acquiring new
technologies. Although these companies are rather small, they provide us
with highly interesting competencies that will pay off in the long term. We
will continue to add successful hidden champions to the INDUS portfolio
going forward. We currently expect that we will be able to announce one or
two new additions by mid-year," said CEO Jürgen Abromeit.
In spite of the difficult economic environment at the beginning of the
year, the Group reported moderate growth for the first quarter of 2016.
Sales revenues increased by 1.5% to EUR 332.8 million (previous year Q1:
EUR 327.9 million). Earnings before interest and taxes (EBIT) reached EUR
30.5 million (previous year Q1: EUR 31.5 million). Adjusted for effects
from company acquisitions (essentially depreciation from purchase price
allocations), EBIT stood at EUR 32.6 million (previous year Q1: EUR 33.5
million). At EUR 16.0 million, earnings after taxes were slightly higher
than in the previous year (previous year Q1: EUR 15.9 million).
The increase in sales revenues is primarily attributable to growth in the
Construction/Infrastructure segment, whereas the other segments initially
felt the weaker demand at the beginning of the year. Operating cash flow
amounted to EUR -6.3 million (previous year Q1: EUR 3.5 million), due,
among other things, to cash inflows from advance payments received in the
prior year quarter. At close to 43%, the equity ratio remained stable above
the 40% target (31 December 2015: 41.9%). Net cash used in investing
activities reached EUR -10.3 million at the three-month stage (previous
year Q1: EUR -21.9 million). At EUR 99.7 million, cash and cash equivalents
were slightly higher than in the previous year (previous year Q1: EUR 95.2
million), as larger loans were repaid as planned.
"Although we had a difficult start in January, we remain optimistic that we
will reach our targets, as we have caught up significantly in February and
March. In April, this positive trend has continued," said Jürgen Abromeit.
The INDUS Board of Management therefore confirms its forecast for the full
year, according to which sales revenues will climb to over EUR 1.4 billion
and earnings before interest and taxes (EBIT) will come in at between EUR
134 million and EUR 138 million.
The full report on the first quarter of INDUS Holding AG is available for
download at www.indus.de. Important information on INDUS can also be found
on the INDUS app (www.indus.de/en/press-service/indus-app.html).
Contact:
Regina Wolter
Corporate Communications & Investor Relations
Phone +49 2204 4000 70
E-Mail [email protected]
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18.05.2016 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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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,
Munich, Stuttgart
End of News DGAP News Service
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