Corporate | 29 November 2012 08:00

INDUS business at good level as planned

INDUS Holding AG / Key word(s): Interim Report

29.11.2012 / 08:00

INDUS business at good level as planned

– Group sales climb to approx. EUR 830 million in first nine months
– Earnings quality improved compared to mid-year
– 2012 earnings targets unchanged

Bergisch Gladbach, November 29, 2012 – In the first nine months of the year, SME investment company INDUS Holding AG performed well in spite of challenging conditions. The market environment deteriorated in the second half of the year. This has been expected by the Board of Management, which had therefore adjusted the cost structures since mid-2012. Despite the difficult economic situation in Europe and slowing economic momentum in the emerging markets, the INDUS Group reported profitable growth also in the third quarter of 2012.

In the first nine months of the year, the INDUS Group increased its sales revenues to EUR 830.0 million (2011: EUR 821.3 million). Domestic sales declined by approx. 3%, while sales in international markets picked up once more. At EUR 81.0 million (2011: EUR 92.4 million), earnings before interest and taxes (EBIT) were fully in line with expectations. An EBIT margin of 9.8% and consolidated net income of EUR 37.8 million (2011: EUR 51.4 million) were also in line with plan in the reporting period.

Operating cash flow stood at EUR 26.3 million (2011: EUR 56.9 million) at the nine-month stage. This cannot be compared with the previous year, as the receivables sold are not derecognised under the newly launched ABS programme. Including this effect to the tune of approx. EUR 23 million, cash flow was at the prior year level. Capital expenditures totalled EUR 44.3 million (2011: EUR 28.5 million). The equity ratio remained stable at 35.5% (Dec. 31, 2011: 36.7%). Net financial liabilities increased moderately on the previous quarter to EUR 369.0 million (June 30, 2012: EUR 364.3 million). The debt-to-equity ratio nevertheless remained stable at 0.9 (2011: 0.8). The high liquidity of approx. EUR 126.1 million serves to cover potential financing bottlenecks resulting from the euro and banking crisis as well as to finance new acquisitions.

Outlook for full year 2012 unchanged
The company expects global economic growth to slow down further in the fourth quarter 2012. Especially the uncertainties in euro-zone and lower growth in Asia make for a bleaker outlook. With a view to the final quarter, CEO Jürgen Abromeit said: 'The environment in important market segments will remain volatile. Thanks to its diversified activities, INDUS' is reporting stable sales. Based on our October figures, we expect a solid fourth quarter.' Against this background, INDUS continues to project sales in excess of EUR 1 billion for the full year 2012. The Group also maintains its profitability target. 'We continue to project earnings before interest and taxes in excess of EUR 100 million, which will make 2012 the second most successful year in the history of INDUS,' Abromeit emphasised.

The full results for the first nine months 2012 ara available immediately at the internet under www.indus.de .

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

End of Corporate News

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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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