Corporate | 24 April 2012 12:00

Dynamic Development in 2011 – INDUS Reports Record Figures

INDUS Holding AG / Key word(s): Final Results

24.04.2012 / 12:00

Dynamic Development in 2011 – INDUS Reports Record Figures

– Helmut Ruwisch hands over chairmanship of the Board of Management to Jürgen Abromeit

Bergisch Gladbach, April 24, 2012 – In 2011, SME investment company INDUS Holding AG again managed to improve on the record sales and earnings figures reported for 2010. Both CEO Helmut Ruwisch and his designated successor Jürgen Abromeit voiced their pleasure at the annual earnings press conference: '2011 was another highly successful year for INDUS – we were able to achieve a new record.'

After ten years as CEO, Helmut Ruwisch (65) has decided to retire from office following the Annual Shareholders' Meeting in July 2012. Helmut Ruwisch had already recommended Jürgen Abromeit (51) to the Supervisory Board as his successor, 'I'm convinced that Mr. Abromeit is capable of successfully enforcing INDUS's long-term, stable growth policies.' Abromeit has been on INDUS's Board of Management since 2008 and is responsible for company acquisitions and portfolio company management. Before he joined INDUS, he spent ten years as the head of finances and subsequently as member of the Board of Management responsible for the segment steel and mechanical and plant engineering, which he had built up, at the steel company Georgsmarienhütte. In Mr. Abromeit's opinion, 'INDUS does not just represent a cross-section of the highest performing small and medium sized companies in the industry; it is also well set-up economically. So the most important thing for me would be to continue the good work of my predecessors as well as maintaining and expanding the portfolio of companies.'

Group sales and EBIT up by 14% and 10%, respectively
INDUS measures its success by its attainment of its financial targets, with the earnings and cash flows of the portfolio being the vital to the successful management of the company. Compared to 2010, the 2011 fiscal year saw sales rise by 14% to EUR 1,104.7 million (2010: EUR 971.6 million) while earnings before interest and taxes (EBIT) improved by 10% to EUR 111.6 million (2010: EUR 101.4 million). Coming in at EUR 55.6 million (2010: EUR 46.9 million), net income also reached a new high, having risen by 19% on the previous year's figure. Operating cash flow grew by almost EUR 50 million, from EUR 81.9 million in 2010 to EUR 130.2 million in 2011.

High demand across all five segments
The INDUS portfolio comprises 39 investments in five segments. In 2011, the companies in the Construction/Infrastructure segment operated particularly profitably, achieving an impressive EBIT margin of approximately 16%. The trend in the Vehicle Components/Engineering segment pointed in the opposite direction. While sales grew here, too, earnings were impacted by impairments totaling EUR 7.6 million, which kept the EBIT margin at a low 3.6%. However, the companies in this segment improved their operating result, with the margin rising to 5.9%. The companies in the Engineering segment improved their earnings and contributed an 11.7% margin, even though a noticeable slowdown in demand has been in evidence since the final quarter of 2011. The companies in the Medical Engineering/Life Science segment continued to operate profitably with an EBIT margin of 15.2%. The companies in the Metal/Metal Processing segment also saw business momentum decline towards the end of the year. While they were unable to maintain the high performance achieved in 2010, they still contributed an impressive 12.2% margin.

Equity significantly increased, net cash at EUR 123 million at year-end
INDUS Group also continued to improve its balance sheet structure. Net debt declined to EUR 311.2 million compared to EUR 379.4 million at the end of the previous year. Equity rose by EUR 72.9 million to EUR 382.1 million. This means that the equity ratio, which had already been constantly improved in previous years, rose once more by a significant margin and now stands at 36.7% (2010: 31.8%). With cash and cash equivalents in excess of EUR 123 million (2010: EUR 96.8 million), INDUS is in a very comfortable net cash position which, in conjunction with fixed financing commitments amounting to approximately EUR 40 million, is to be used for further acquisitions. A dividend of EUR 1.00 will be proposed at the Annual Shareholders' Meeting on July 3, 2012.

Sales and earnings forecast for 2012
At today's annual earnings press conference, CEO Helmut Ruwisch presented a cautious outlook for 2012: 'At the moment we are optimistic about the full year and look forward to continuing our successful performance of the 2011 fiscal year. Economic momentum in the emerging countries as well as in Germany remains good, but signs of weakness have already become apparent in the eurozone. As far as sales are concerned, we want to keep up last year's good performance in the current fiscal year, but the current collective bargaining rounds are already having an adverse impact. Given these circumstances, the 10% EBIT margin target we have set ourselves seems quite ambitious. Furthermore, this target is based on the assumption that the insecurities created by the global debt crisis do not increase and that the economic environment does not deteriorate further.'

INDUS Holding AG's full annual report can be downloaded from www.indus.de .

Contact:
Regina Wolter
Corporate Communications & Investor Relations
Phone +49 2204 4000 70
E-Mail wolter@indus.de

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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:	indus@indus.de
Internet:	www.indus.de
ISIN:	DE0006200108
WKN:	620010
Listed:	Regulierter Markt in Düsseldorf, Frankfurt (Prime Standard); Freiverkehr in Berlin, Hamburg, München, Stuttgart

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