EANS-Adhoc: Rosenbauer International AG /
Group revenues and EBIT down only slightly, despite budgetary constraints on
local authorities;
Dividend proposal: 1.2 EUR (2010: 1.2 EUR) per share;
2012: record revenues while maintaining targeted EBIT ...
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annual report
20.04.2012
Group key data | |2011 |2010 |Change in %
Revenue |Mio EUR|541.6 |595.7 |(9%)
EBIT |Mio EUR|41.6 |49.7 |(16%)
EBT |Mio EUR|40.3 |49.1 |(18%)
Net profit for the period |Mio EUR|32.1 |40.0 |(20%)
Cash flow from operation activities |Mio EUR|(12.8) |34.8 |-
Total assets |Mio EUR|357.1 |301.6 |18%
Equity in % of total assets | |40.6% |42.9% |-
Investments |Mio EUR|11.5 |8.9 |29%
Earnings per share |EUR |4.1 |4.7 |(13%)
Dividend per share 1) |EUR |1.2 |1.2 |0%
Employees as at 31.12. | |2,123 |2,046 |4%
Order intake |Mio EUR|826.8 |496.9 |66%
Order backlog as at 31.12. |Mio EUR|682.3 |394.5 |73%
1) Proposal to Annual General Meeting
Group revenues came to 541.6 Mio EUR in 2011 (2010: 595.7 Mio EUR), meaning that
despite the grave aftermath of the financial and economic crisis - especially in
the USA and Western Europe - they were only 9% below the previous year´s figure.
Largely due to delays in the supply of bought-in chassis, and for reasons
connected to the start-up phase for the new municipal vehicle AT, it was not
possible to make good by the year-end all the revenues that had been deferred
beyond the end of the first half-year. This effect was compounded by deferred
shipments under international export orders, which will now be delivered - and
reflected in revenues - during the current financial year.
Although the palpable follow-on effects of the financial and economic crisis
meant that the EBIT of 41.6 Mio EUR fell short of the previous year´s record
result (2010: 49.7 Mio EUR), at 7.7% the EBIT margin was still at a high level
compared to the average for the industry as a whole. It should also be
remembered that the 2010 result had been improved to the tune of 3.5 Mio EUR by
the partial reversal of a provision.
Profit before income tax (EBT) in the reporting period came to 40.3 Mio EUR
(2010: 49.1 Mio EUR). The previous year´s figure contains an amount of 3.5 Mio
EUR relating to the pro-rata reversal of a special provision, which led to a
corresponding improvement in the 2010 result.
The taxation ratio stood at 20.2% (2010: 18.5%), which is below the corporation
tax rate of 25% because the local taxes owed by co-partners are borne by these
persons themselves. The stated taxation expense thus amounted to 8.2 Mio EUR
(2010: 9.1 Mio EUR). After deduction of the taxes on income, the final result
for the accounting period comes to 32.1 Mio EUR (2010: 40.0 Mio EUR).
The balance-sheet total rose by 18.4% over the previous year´s figure, and
totaled 357.1 Mio EUR (2010: 301.6 Mio EUR). The rise is largely attributable to
the inventory build-up needed in connection with the higher production volumes
scheduled for 2012.
Last year the Rosenbauer Group took new orders worth 826.8 Mio EUR (2010:
496.9 Mio EUR). This is a 66% increase on the year before, the bulk of it due to
the company winning the biggest single order in its entire history, from Saudi
Arabia. At 682.3 Mio EUR (December 31, 2010: 394.5 Mio EUR), the volume of
orders on hand at December 31, 2011 was the highest such figure ever reached,
and will assure basic capacity utilization at the production facilities until
well into 2014.
The Executive Board and Supervisory Board will propose to the Annual General
Meeting that the dividend for 2011 should be left unchanged at 1.2 EUR (2010:
1.2 EUR) per share.
The Rosenbauer Group´s medium-range corporate strategy envisages further organic
growth in the vehicle, fire & safety equipment and service fields through until
2015. In addition thereto, there are also major orders which call for extra
production capacity. To support fulfillment of the Group´s medium-range
strategy, a program of capacity enlargements is to be carried out over the next
few years, mainly at its locations in Austria and Germany, entailing an
additional investment volume of around 30 Mio EUR.
The large order backlog and the favorable situation regarding project business,
are keeping production capacity fully utilized during the current year 2012.
After a year of consolidation, the growth trend of recent years is set to be
resumed, with expected revenues of well above 600 Mio EUR and a targeted EBIT
margin of over 7%.
Further inquiry note:
Rosenbauer International AG
Mag. Gerda Königstorfer
Tel.: 0732/6794-568
gerda.koenigstorfer@rosenbauer.com
end of announcement euro adhoc
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issuer: Rosenbauer International AG
Paschingerstrasse 90
A-4060 Leonding
phone: +43(0)732 6794 568
FAX: +43(0)732 6794 89
mail: ir@rosenbauer.com
WWW: www.rosenbauer.com
sector: Machine Manufacturing
ISIN: AT0000922554
indexes: WBI, ATX Prime
stockmarkets: free trade: Berlin, Stuttgart, official market: Wien
language: English