ATB Austria Antriebstechnik AG

EANS-Adhoc: ATB Austria Antriebstechnik AG releases annual results 2011

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30.04.2012

Ad-hoc Information


ATB Austria Antriebstechnik AG releases complete financial year 2011 results


    - Solid business development - sales increase by 10 %

    - Significant improvements of all key financial figures

    - Increased demand for energy-efficient motors


    - Positive outlook for 2012




Vienna,  April  30th   2012;   The   economic   development   of   ATB   Austria
Antriebstechnik AG  (ISIN  AT0000617832)  has  been  affected  by  uncertainties
resulting from the opening of insolvency proceedings by A-TEC Industries  AG  in
the first half of 2011. Despite this negative impact, the ATB Group  experienced
a sales increase of almost 10%  in  financial  year  2011  and  the  Group  also
managed to significantly improve its key financial figures.

The positive development  is  attributable  to  the  consistent  and  systematic
active market development as well  as  to  the  change  in  ownership  structure
completed in the 4th quarter of 2011. The industrial and financial group  Wolong
Holding Group Co. Ltd currently holds 98.93% of the share  capital  of  the  ATB
Group. The Wolong Group is based in Shangyu, China, and ranks among the  leading
electric motor manufacturers in China.

1  Aufgrund  des  Verkaufs  der  ATB Technologies GmbH,  Lustenau,  wurden   die
Vorjahreszahlen angepasst.
Significant improvements in sales revenues and net income

In comparison to last year, the ATB Group sales revenues in  2011  increased  by
9.7% to EUR 337.4 million (2010: EUR 307.5 Mio.) An analysis of  the  individual
Business Units shows that the Industrial Motors  division  managed  to  increase
its revenues by 11.7 % to EUR 171.6 Mio. (2010: EUR 153.5 million.) Revenues  in
the Project Motors Division rose  by  7.7 %  to  EUR 165.9 Mio.  (2010:  EUR 154
Mio.)

The ATB Group also considerably improved its EBITDA by 84.9 %  to  EUR 24.6 Mio.
(2010: EUR 13.3 Mio.) EBIT also increased significantly. Following an  operating
loss in financial year 2010 the ATB Group experienced  an  operating  profit  in
2011 amounting to EUR 45.2 Mio. (2010: EUR - 88.2 Mio.)

The  2010  financial  year  was  negatively  impacted  by  impairments  seen  in
intangible assets as well as  in  property  plant  and  equipment  amounting  to
EUR 88.5 million. Due to a concurrent impairment reported in property plant  and
equipment equaling EUR 2.5 million and  a  fair  value  remeasurement  resulting
from the Wolong Group acquisition, the 2010 impairments were partially  reversed
in financial year 2011 amounting to EUR 29.8 million.

Adjusted for one-off effects, the EBIT margin increased to 5.9 % (2010:  1.1 %.)
The reported EBIT margin equals 13.4 % (2010: - 28.7 %.)

The primary cause for the impairments in financial  year  2010  was  the  strong
deterioration in the cooperation with  banks,  credit  insurers,  suppliers  and
clients of ATB Group  as  a  result  of  the  insolvency  proceedings  of  A-TEC
Industries AG. The sudden loss of trust in the ATB Group  significantly  reduced
possibilities for financing, thus financials and order intake deteriorated.

Order intake and order backlog above previous year's volumes

Due to the increased order intake in  the  Industrial  Motors  Division  in  the
first half year of 2011 and the disproportionally high  growth  in  the  Project
Motors Division in the second  half  year,  new  orders  in  the  ATB  Group  in
financial  year  2011   increased   to   EUR 352.5   million   (previous   year:
EUR 321.2 million.) The order backlog amounted to EUR 131.6 million, up by  1.5%
from the previous year's level (EUR 129.6 million.)

Solid capital structure

The  balance   sheet   total   rose   by   30%   to   EUR 313.3 million   (2010:
EUR 241.1 million.) Due to a new short term  loan,  the  cash  position  in  the
balance sheet as well as the current financial liabilities  position,  increased
by EUR 40 million. Property, plant and equipment as well  as  intangible  assets
changed as a result of impairments and also reversed  impairments  by  EUR  27.4
million.

Equity,  including  minority  interest,  increased  by   EUR   42.7 million   to
EUR 81.9 million (2010: EUR 39.2 million.) The  equity  ratio  improved  due  to
positive net income and equity-enhancing measures by the former  owner  amounted
to EUR 11.3 million to 26.1 % (2010: 16.3%.)

Gearing (net  financial  debt  to  equity)  also  improved  markedly  to  60.6 %
(previous year: 147.0%.)

Outlook 2012

With these positive results and the Wolong Group as strategic partner,  the  ATB
Group emerges stronger from the challenging financial  year  of  2011  and  will
continue to seize major market opportunities in its core markets as well as  its
proximate markets. The Group will benefit from latest developments in regard  to
energy-efficient products. In combination with the stable  development  of  core
markets, the management of the  ATB  Group  expects  a  rise  in  revenues  that
exceeds 10%. The use of synergies resulting from the new shareholding  structure
in combination with the continuing use of tight cost management should make  for
profitable operative performance.

In the  Industrial  Motors  division,  increasing  demand  for  energy-efficient
motors shaped by higher energy prices as well as  regulatory  and  environmental
protection efforts at the European level will  render  this  trend  sustainable.
The strong operative performance in the  highly  competitive  Industrial  Motors
segment creates preconditions for further optimization.

Large customer-specific motors in the Project Motors divisions are  consistently
positioned in attractive niches. The  strategic  target  is  to  focus  on  core
competences as well as global market potential and  reap  the  benefits  arising
from strong-margin business in the Project Motors Division.



Contact:

Christina Klein
Investor Relations
ATB Austria Antriebstechnik Aktiengesellschaft
Donau-City-Straße 6, Top 15A
A-1220 Wien
Phone: +43 1 90250-240
Cell:+43 676 83 75 7240
Email: klein@atb-motors.com
www.atb-motors.com


Further inquiry note:
Christina Klein
Investor Relations
ATB Austria Antriebstechnik Aktiengesellschaft
Donau-City-Straße 6, Top 15A
A-1220 Wien
Phone: +43 1 90250-240
Cell:+43 676 83 75 7240
Email: klein@atb-motors.com
www.atb-motors.com

end of announcement                               euro adhoc 
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issuer:      ATB Austria Antriebstechnik AG
             Wächtergasse 1
             A-1010 Wien
WWW:      www.atb-motors.com
sector:      Technology
ISIN:        AT0000617832
indexes:     Standard Market Auction
stockmarkets: official market: Wien 
language:   English
 



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