Dr. Hönle AG

Hönle: Good Start to the New Financial Year with Doubling Result

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Gräfeling/München (euro adhoc) - The Hönle Group had a good start into the new financial year with 30.1 % sales growth to EUR 7,281. The positive sales development and the optimised expense situation led to a remarkable improvement of results: The operating result (EBIT) rose by 118.2 % to 1,381 TEUR. The Earnings before tax (EBT) climbed 98.5 % to 1,562 TEUR. Net income for the period rose even more strongly: It improved by 139.4 % to 1.123 TEUR; this corresponds to earnings per share of EUR 0.20 (PY: EUR 0.09). The positive earnings development also led to a marked improvement in margins; in the first quarter of financial year 2007/2008, the EBIT margin was 19.0 %, after 11.3 % in the previous year; net profit on sales reached 15.4 % compared with 8.4 % in the previous year. UV inkjet printing contributed substantially to this growth; in the first quarter, Hönle sold significantly more dryers in the growth market for inkjet print applications than in the previous year. Sales of UV dryers for coating applications also rose significantly. The published figures of the first quarter don't include the acquisitions of Panacol AG and PrintConcept GmbH yet. The acquisitions will effect to the 1 January 2008.

Outlook: The business market environment for UV technology is positive at present despite the global economic turbulence; in the first quarter, Hönle succeeded in increasing sales perceptibly in comparison with the previous year, even in the recession-prone USA. In February 2008, the Hönle Group´s incoming and orders on hand are far above the previous year´s level. The Hönle Group is striving to achieve a 60 % sales increase for the current financial year, and a 40 % rise in the operating result (EBIT). This planned highly dynamic development is based on both Hönle´s organic growth in the offset printing and inkjet printing segments, in particular, and on the integration of the two companies acquired in December 2007, Panacol and PrintConcept, including the pertaining synergy effects. The acquisition of Panacol will enable Hönle to broaden its adhesives product portfolio that had previously been concentrated at the Wellomer subsidiary through several well known and well-established brands. This permits a stronger combination of adhesives and equipment as an adhesives system, and this will increase the efficacy of the marketing activities of both companies, underline Hönle´s position as a systems provider on the market and, at the same time, provide for new sales opportunities. The already successful business development in offset printing in the first quarter will gain even more momentum after acquisition of the majority in PrintConcept. Today, the new subsidiary is already directly supplying a number of printing machine manufacturers in the offset printing segment, and can now facilitate Hönle´s access to providers in this market. Together with Hönle, PrintConcept will be able to realise projects of a magnitude that it had not been able to manage alone. The Hönle Group therefore expects a marked rise in revenues and earnings in this large market segment in the future.

About the acquisitions Panacol AG and PrintConcept GmbH: In the first quarter of 2007/2008, the Hönle Group expanded its competitive position as a systems provider in the UV market substantially through two corporate acquisitions.  In December 2007, and with effect from 1 January 2008, it acquired all shares in the Swiss company Panacol AG, an internationally active provider in the growth market for industrial adhesives. Panacol has three important business locations in France, Germany, and Switzerland, and earned annual sales revenue of about EUR 14 million in 2007 with approximately 70 employees. This acquisition enables Hönle to significantly expand both its product range and customer base in the adhesives segment. Panacol has a broad product portfolio that extends from UV-reactive epoxides and acrylates through to structural adhesives and conductive adhesives to instant adhesives and silicons. In addition, the company markets UV equipment, dosing systems and hot bar soldering machines. Through the Panacol take-over, Hönle increases the proportion of recurring revenues in the form of consumer goods in total sales, and thus makes itself more independent of cyclical fluctuations in the investment goods segment. In December 2007 Hönle also signed a purchase agreement concerning the acquisition of 70 % of the shares in PrintConcept GmbH, Köngen, near Stuttgart, with effect as from 1 January 2008. The purchase agreement includes further share acquisitions of 10 % at the beginning of 2009, 2010 and 2011, respectively. PrintConcept develops, produces and markets high quality UV systems mainly for the graphic industry. The company earns sales revenue of approximately EUR 3.5 million. This take-over serves the Hönle Group´s aim of expanding its market position in the business with offset printing machine producers. Through the acquisition of PrintConcept, Hönle already substantially increased its market share, in particular in the rotary offset printing segment.

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ots Originaltext: Dr. Hönle AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Peter Weinert
+49 89 85608 173

Branche: Instrument Engineering
ISIN:      DE0005157101
WKN:        515710
Index:    CDAX, Prime All Share, Technologie All Share
Börsen:  Börse Frankfurt / regulated dealing/prime standard
              Börse Berlin / free trade
              Börse Hamburg / free trade
              Börse Stuttgart / free trade
              Börse Düsseldorf / free trade
              Börse Hannover / free trade
              Börse München / free trade

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