Ireland | 25 October 2007 15:23
RENK AG / Release of an announcement according to Article 37 of the WpHG [the German Securities Trading Act]
Interim report according to Article 37 of the WpHG, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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RENK AG: Q3/2007 financial report pursuant to Art. 37x German Securities
Trading Act ('WpHG')
RENK raises sales and earnings
- 3Q/2007 operating profit (EBIT): EUR45 million (up 61 percent
from 28 million)
- ROS stays high at 15.2 percent (up from 11.4 percent)
- Order intake again surging at EUR330 million (up 16 percent)
- Sales improve by 17 percent to EUR293 million
- Unchanged bright prospects for all of 2007:
Order intake and sales of over EUR400 million, operating profit
at EUR60 million
Again robust demand for mechanical engineering products was reflected in
3-quarter (3Q) order intake 2007 at RENK. Sliding bearings and marine gear
units, in particular, propelled order intake to EUR330 million (up by EUR45
million).
The sales hike from EUR250 million to EUR293 million was shared among all
divisions, apart from Special-Purpose Propulsion Systems where invoices
tend to be issued in Q4. Higher invoices combined with good capacity
utilization again boosted earnings. Alongside the improved EBIT from EUR28
million to EUR45 million, this is especially reflected in rising ROS, from
11.4 to 15.2 percent. All RENK divisions and particularly Vehicle
Transmissions, upped their returns.
For Q4/2007, we expect the business trend to continue and so, for all of
fiscal 2007, we are reconfirming our sales and order intake forecasts of
over EUR400 million. EBIT is expected at EUR60 million. There will be a
further increase in headcount.
RENK GROUP
EUR million
3Q/2007 3Q/2006 Change in %
Order intake 330 285 +16
Sales 293 250 +17
Order backlog 1) 714 672 +6
Headcount 1) 1,719 1,575 +9
Changein EUR mill.
Operating profit (EBIT) 45 28 +17
Earnings before taxes (EBT) 43 27 +16
Net income (EAT) 30 12 +18
Earnings per share in EUR 4.37 1.72 +2.65
Return on sales (ROS) in % 15.20 11.40 -
Capital expenditures 8 12 - 4
Cash flow from operating
activities 33 1 +32
Free cash flow 25 (6) +31
1) As of September 30, 2007, vs. December 31, 2006
RENK AG
The Executive Board
25.10.2007 Financial News transmitted by DGAP
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Language: English
Issuer: RENK AG
Gögginger Str. 73
86159 Augsburg
Deutschland
Internet: www.renk.eu
End of News DGAP News-Service
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