EANS-Adhoc: Binder+Co Aktiengesellschaft
In the first quarter 2009, Binder+Co
shows slight rises in sales revenues and EBIT
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
3-month report
19.05.2009
Gleisdorf, May 19, 2009. As expected, the 2009 financial year commenced with considerable fluctuations in demand. During the first quarter of 2009, the Processing Technology Segment was characterised by considerable reticence with regard to order allocations, while Environmental Technology and Packaging Technology business remained solid. All in all, order intake was down on the record level of Q1 2008, but at EUR 16.03 million stayed at a sound level. Moreover, sales revenues and EBIT were even slightly higher than in the first quarter of the previous year.
"In the first quarter of 2009, the economic downturn only had a moderate effect on Binder+Co. We are satisfied with the order situation and, as compared to last year, were able to slightly raise both sales and EBIT", Karl Grabner, Member of the Binder+Co Management Board
Sales revenues and EBIT marginally higher Partially as a result of the solid order backlog at the beginning of the year, in comparison with the same period of 2008, Binder+Co AG was able to raise its sales revenues during the first quarter of 2009 to EUR 15.23 million (Q1/2008: EUR 15.01 million). The main factor in this increase was the scheduled clearing of system projects and single machine business in tandem with solid spare part and service sales in all three product segments.
During the period under review, foreign sales amounted to 90.8% (Q1/2007: 81.1%) of total sales revenues, which underlined the major significance of export business. With a 38.0% share of sales revenues, America, where a large Environmental Technology Segment project was concluded, represented the largest market. Asia including Australia provided 21.4% of sales revenues, the EU (excluding Austria) 18.5%, eastern Europe (CEE and CIS) 12.0% and Africa 0.9%.
As a result of a good mixture of systems business, single machines, spare parts and service sales, it was also possible to slightly raise the EBIT figure as compared to the same period of 2008 to EUR 1.18 million (Q1/2008: EUR 1.17 million).
Order intake at a positive level At EUR 16.03 million, total order intake in the first quarter of 2009 was clearly below the record level of 2008 (Q1/2008: EUR 28.69 million), but was positive from the perspective of a long-term comparison. With the orders received, the use of workforce capacity is secured beyond the second quarter.
Outlook From a branch perspective, demand in the first quarter of 2009 varied greatly. Nonetheless, the Binder+Co management assumes that in 2009, the Group will again be able to uphold the positive sales and results level of 2008.
Binder+Co share shows a stable price trend in the first quarter During the period under review, the price of the Binder+Co share remained stable at EUR 9.50. At the end of April, the price fell by some 3% to stand at EUR 9.25.
The Binder+Co Group The company itself is largely active in the fields of machinery and plant production in the areas of processing technology, recycling and in the case of its subsidiary, Statec Binder GmbH, the packaging of primary and secondary raw materials. The company operates a production plant in Gleisdorf, Austria.
The company has been listed on the Vienna Stock Exchange since December 2006 and in June 2007 was admitted to the newly created mid market segment. It has been authorised to participate in regulated free trading since July 2007. With an average workforce of 236, in 2008 Binder+Co had sales amounting to EUR 73.45 million and EBIT of EUR 7.20 million. The company therefore had a solid EBIT margin of 9.8%.
end of announcement euro adhoc
Further inquiry note:
Karl Grabner, Member of the Management Board
Tel.: +43 (0) 3112/800-363
Branche: Machine Manufacturing
ISIN: AT000BINDER3
WKN:
Index: mid market
Börsen: Wien / Regulated free trade