euro adhoc: Binder+Co Aktiengesellschaft
Financial Figures/Balance Sheet /
Binder+Co improves its result for the year by 25 %
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annual report
05.03.2008
Gleisdorf, March 5, 2008. At today´s presentation of its Annual Report for 2007, Binder+Co was again able to convince with positive figures. In the past year, the Styrian specialist for processing, environmental and packaging technology increased its sales by 25.2% to EUR 53.4 million and improved its EBIT by 25.7% to EUR 4.9 million. At EUR 57.5 million, company order intake was also 25.0% up on the value for the preceding year.
Dynamic development in all segments The positive trend in the construction and construction sub-supply industry, the iron and steel industry, the European recycling branch and the booming petrochemical industry in Asia, furnished an appropriate level of dynamism in Binder+Co´s markets and the company was able to use this positive situation for growth in all of its three business segments.
In addition to the generally favourable economic climate, Binder+Co´s high levels of expertise as a systems supplier constitute a clear competitive advantage. As a consequence, the sales of single machines and complete systems, as well as business in the after sales services sector, were all markedly increased. At the same time, Binder+Co consolidated its market positions in all three of its product segments.
Developments in the individual product segments In 2007, the Processing Technology Segment benefited from strong demand from Western and Eastern Europe, and Asia. The high levels of demand in the CEE and CIS states derived mainly from the minerals and construction materials industry, while the southeast Asian and Indian markets were characterised by a prolongation of solid demand from the iron and steel production industry. Accordingly, the prudence of the decision to concentrate on increased activities in these markets was clearly confirmed. Processing Technology Segment sales in the period under review amounted to EUR 24.98 million (46.7 % of total sales), the EBIT contribution totalling EUR 3.59 million (73.4 % of total EBIT). Order intake in this segment in 2007, was largely characterised by single machine orders and at year-end stood at a total of EUR 25.81 million.
The first half of 2007 in the Environmental Technology Segment was characterised by single machine business in the glass recycling area, which emanated from numerous expansion and modification projects in the EU states, and initial plants in Eastern Europe. The second half of the year saw the intake of more orders for complete systems, in particular from Western Europe and North America. The new generation of the CLARITY PLUS product family, which can also cover the special- glass sorting area through the use of multi-sensor technology, developed into an absolute best seller. During the period under review, this segment also completed a glass-recycling centre in Pila, Poland, which constitutes a reference project of significance for the highly promising markets in Central and Eastern Europe. At EUR 15.11 million (28.3 % of total sales), Environmental Technology Segment sales were 16 % up on the preceding year. The Segment provided an EBIT contribution of EUR 1,09 million (22.3 % of total EBIT). A total of EUR 15.74 million in new orders was captured.
During the period under review, the sales situation in the Packaging Technology Segment was extremely positive. In India and Southeast Asia the segment profited from the growing demand for complete systems for high-performance packaging and palletising in the petrochemicals industry. Numerous orders were received for single machines from the European, African and Australian markets. Only the order volume in the USA was limited by the euro exchange rate. On the basis of numerous orders for single machines, the Packaging Technology Segment achieved sales of EUR 13.35 million (25.0 % of total sales) in the past year. This was 76.4 % higher than the figure for 2006. However, due to low-margin systems orders, at EUR 0,21 million (4.3 % of total EBIT), EBIT was down on the preceding year. Order intake in the segment developed better than in 2006 with a total of EUR 15.94 million in new orders.
Innovation as an important factor in success Binder+Co demonstrates high levels of innovative strength through an average innovation rate of 30%, which means that around a third of new order intakes were achieved with new products, which were launghed to the market within the past three years. In view of the continuing trend towards recycling and resource conservation, the Environmental Technology segment is especially forward looking and with CLARITY PLUS, Binder+Co has launched the first three-way solution for the sorting of used glass by colour to come onto the global market. In the product innovation area, development work is currently under way with regard to sorting devices for minerals, plastics and paper. In addition, a research work in the packaging segment Is planned.
Further growth to be sought Binder+Co has a clear corporate growth strategy, which on the basis of a strong position as the technology and business leader in important product areas and markets, incorporates the four main objectives of innovation and product development (Product Leadership), focused marketing (Market Reach), process optimisation (Operational Excellence) and targeted acquisitions.
Outlook for 2008 In 2008, Binder+Co is to step up its efforts in the high-potential markets of Central and Eastern Europe and Asia, with a special focus on India and Southeast Asia. The company is looking for the rapid implementation of current development projects, further expansion of its sales network in the CEE states and a steady rise in productivity at its Gleisdorf location. The order backlog of EUR 20.07 million at the beginning of the year represents a solid basis for another improvement in sales and the result.
In addition, Binder+Co intends to further consolidate its technological leadership with regard to core products, and system and plant building competence is to be augmented. This will both serve the increase of single machine sales and also strengthen the range of complete package solutions on offer.
The Binder+Co share Binder+Co also demonstrated positive development during its first year on the Vienna Stock Exchange. In midd-2007, the company became one of the first to transfer to the newly created mid market segment and in July relisting followed to regulated OTC trading.
As far as share performance is concerned, the company can also reflect on solid development during the reporting period. Starting at a level of EUR 10.30 at the beginning of the year, on December 31, 2007, the share price stood at EUR 12.90, which represented a rise of 25.2%.
In addition to the company´s highly successful operative development, the Binder +Co share gained added impetus from the withdrawal of Waagner-Biro Beteiligungsverwaltungs GmbH, which in the course of a concentration on steel construction and stage equipment, has sold all of its shares at February 28, 2008. This has markedly increased both Binder+Co´s liquidity and its attractiveness to investors.
end of announcement euro adhoc
Further inquiry note:
Karl Grabner, Member of the Management Board
Tel.: 03112/800-363
Branche: Machine Manufacturing
ISIN: AT000BINDER3
WKN:
Index: mid market
Börsen: Wiener Börse AG / Regulated free trade