Corporate | 15 August 2013 11:04
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Funkwerk AG / Key word(s): Half Year Results
Funkwerk AG improves order bookings in H1 2013 – Sales of continued business segments reduce from EUR 62.7m to EUR 49.7m; group earnings improve – EBITDA reaches breakeven at end of June (H1 2012: EUR -0.8m); EBIT improves from EUR -4.2m to EUR -3.0m – Steady group revenue and better earnings forecast for full FY2013
Further progress in the group was made in activities to focus on its two core segments, Traffic & Control Communication (TCC) and Security Communication (SC), and in consistently expanding its market reach. Having sold a number of operations in the previous year, Funkwerk shed a further two divisions of its TCC segment, Microsyst Systemelectronic GmbH in Weiden and its British subsidiary Funkwerk Information Technologies York Limited, in the first six months of 2013. In order to ensure comparability with the previous year, the group’s statements of comprehensive income for the two years were adjusted for all corporate units sold. Incoming business, which increased from EUR 57.7m to EUR 60.4m in a six-month comparison, was positively affected primarily by intensified foreign activities, the development of the group’s system expertise and its growing service business. At the end of June 2013, Funkwerk reported an order backlog of EUR 72.7m (30 June 2012: EUR 84.3m). In the first half of 2013, cash outflow relating to current operations amounted to EUR 6.5m, compared to EUR 9.3m in the prior-year benchmark period. Equity in the Funkwerk group decreased from EUR 32.2m at the end of 2012 to EUR 27.2m. The balance sheet total declined from EUR 113.1m at the year-end 2012 to EUR 94.9m. The equity ratio remained virtually unchanged at 28.6 per cent (31 December 2012: 28.5 per cent). The number of employees reduced from 788 to 755 in the first six months of 2013. Unless the general economic setting deteriorates considerably, Funkwerk expects consolidated sales for the full 2013 financial year of around EUR 140m (unadjusted sales in 2012: EUR 141.3m). This estimate is based on the increase in incoming business, which is expected to continue in both segments. The group’s operating earnings (without restructuring costs) are forecast to improve significantly on the previous year, as that its current cost saving measures will take full effect in 2013 (unadjusted EBIT for 2012: EUR -5.1m). The full interim report is available at www.funkwerk.com .
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| Language: | English | |
| Company: | Funkwerk AG | |
| Im Funkwerk 5 | ||
| 99625 Kölleda | ||
| Germany | ||
| Phone: | +49 (0)3635 600 0 | |
| Fax: | +49 (0)3635 600 507 | |
| E-mail: | info@funkwerk.com | |
| Internet: | www.funkwerk.com | |
| ISIN: | DE0005753149 | |
| WKN: | 575314 | |
| Listed: | Regulierter Markt in München; Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart; Frankfurt in Open Market | |
| End of News | DGAP News-Service |
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| 226084 15.08.2013 |