Corporate | 21 November 2013 08:00

INDUS reports strong third quarter

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

21.11.2013 / 08:00

INDUS reports strong third quarter

– Results for Q3: Sales revenues EUR 314.3 million, EBIT EUR 32.3 million, EBIT margin 10.3%
– Positive performance expected to continue in 2014

Bergisch Gladbach, 21 November 2013 – The business of INDUS Holding AG improved from quarter to quarter in 2013. Consolidated sales revenues increased to EUR 887.1 million at the nine-month stage (Q1-Q3 2012: EUR 830.0 million). INDUS generated EBIT of EUR 85.3 million (Q1-Q3 2012: EUR 81.2 million) and an EBIT margin of 9.6% (Q1-Q3 2012: 9.8%). At EUR 43.5 million, net income for the period clearly exceeded the prior year level (Q1-Q3 2012: EUR 37.9 million).

INDUS grows as announced at the beginning of the year
Sales revenues of the INDUS Group have grown by approx. 7% in the year to date. This growth is attributable both to the partial consolidation of the six new acquisitions and to additional organic growth. The strongest growth was reported in the Mechanical Engineering segment, where the two largest new additions, BUDDE and ELTHERM, were consolidated for the first time. Due to depreciation effects from the first-time consolidation, the operating results of these companies are included in the segment results only to a limited extend. Earnings before interest and taxes (EBIT) of the Mechanical Engineering segment nevertheless increased by 20%. The Vehicle Engineering segment also showed an above-average performance, with sales revenues growing by 6% and earnings up by approx. 40%, which reflects the profit-enhancing measures announced at the beginning of the year. The Medical Engineering segment performed reliably and generated a strong margin. The Construction/Infrastructure segment reported particularly strong growth in the third quarter, thus offsetting the weakness of the beginning of the year. As a result, sales revenues and earnings of this segment reached the prior year level at the nine-month stage. Metal Engineering showed a similar performance, whose sales revenues increased by approx. 2%; due to minor one-time effects and price pressure, the segment’s margin declined moderately, however.

Cash flow increases, net debt and equity capital remain stable
Jürgen Abromeit, CEO of INDUS Holding AG, expressed his satisfaction: ‘We expect between EUR 70 and 80 million more in sales revenues for 2013, we have acquired and integrated six companies and improved our operating result as we had announced. And we did all that without jeopardising the solidity of our balance sheet.’

The equity ratio stood at 36.6% on the reporting date (31 Dec. 2012: 38.6%). INDUS expects to further reduce its net debt from currently EUR 395.5 million (31 Dec. 2012: EUR 341.8 million) and to improve its equity capital through working capital reductions and further loan repayments.

Operating cash flow climbed to EUR 63.6 million in the first nine months of the year (Q1-Q3 2012: EUR 26.3 million). The Group has so far spent about EUR 80 million on portfolio investments and acquisitions. In spite of the six recent acquisitions, INDUS’ liquidity remains high at EUR 99.3 million (Q1-Q3 2012: EUR 126.1 million).

The company projects total sales revenues of EUR 1.1 billion to EUR 1.2 billion and EBIT of between EUR 108 million and EUR 110 million for the full year 2013. INDUS intends to continue its growth in 2014 and to further expand its performance through portfolio improvements.

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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