Corporate | 19 March 2015 16:00
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KHD Humboldt Wedag International AG / Key word(s): Final Results
KHD Humboldt Wedag International AG closes 2014 financial year with positive EBIT – Order intake brought down by market conditions – Revenue amounting to EUR 240 million slightly down – EBIT and EBIT margin positive – Robust liquidity position and stable equity ratio Cologne, Germany, March 19, 2015 – KHD Humboldt Wedag International AG (KHD), one of the world’s leading suppliers of equipment and services for the cement industry, achieved positive EBIT (EUR 1.1 million) in the 2014 financial year, despite slightly lower revenue. KHD’s order intake fell to EUR 101.3 million thanks to continued slow investment in the cement industry and the corresponding delays in awarding new orders. The slight drop in revenue of 3.8% to EUR 240.2 million is connected with the lower order backlog at the beginning of 2014. The Parts & Services business developed well and contributed EUR 59.2 million to revenue. The gross profit margin improved from 11.8% to 13.4%. Despite costs related to intensified research and development activities, EBIT was nearly stable at EUR 1.1 million (previous year: EUR 1.2 million). Group net profit for the year rose to EUR 1.6 million (previous year: EUR 0.7 million), resulting in earnings per share of EUR 0.02 (previous year: EUR 0.01). This increase is mainly due to interest income from intercompany loans extended to AVIC during the reporting year totaling EUR 100 million. The extension of the loans, in particular, contributed to the reduction in cash and cash equivalents from EUR 228.2 million to EUR 123.6 million, which is still a comfortable level for the operating business. The equity ratio rose from 53.2% in the previous year to 57.3% as of December 31, 2014. As a result of focused market activity in the emerging economies, and provided that the political situation related to Russia eases, KHD expects significantly higher order intake for the 2015 financial year. However, as a result of the low order backlog going into 2015, revenue will be significantly below the level of the 2014 financial year. As the execution of projects with low margins continues, EBIT for the current year will likely come in negative. The complete Annual Report for KHD Humboldt Wedag International AG for the 2014 financial year is available at www.khd.com under Investor Relations.
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2015-03-19 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. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
| Language: | English | |
| Company: | KHD Humboldt Wedag International AG | |
| Colonia-Allee 3 | ||
| 51067 Köln | ||
| Germany | ||
| Phone: | +49 (0)221 6504 1500 | |
| Fax: | +49 (0)221 6504 1409 | |
| E-mail: | michael.nielsen@khd.com | |
| Internet: | www.khd.com | |
| ISIN: | DE0006578008 | |
| WKN: | 657800 | |
| Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin | |
| End of News | DGAP News-Service |
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