CENTROTEC Sustainable AG / Quarter Results
15.05.2008
Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Double-digit organic growth, on track with full-year forecast for 2008
Brilon, May 15, 2008 CENTROTEC Sustainable AG, Brilon, maintained its
successful course of growth in the first quarter of 2008 by achieving an
11% increase in consolidated revenue to EUR 100.3 million (prior-year
period EUR 90.4 million). The proportion of revenue generated away from its
core markets of Germany and the Netherlands rose to 39 % (previous year 37
%). All three segments succeeded in contributing towards this revenue
development, in each case reporting substantial growth. Revenue for the Gas
Flue Systems segment was increased by 19 % to EUR 26.9 million. Climate
Systems achieved organic revenue growth of 7 % to EUR 63.2 million; within
this, revenue for solar thermal systems rose by around 30 %. Revenue for
the Medical Technology & Engineering Plastics segment increased by 14 % to
EUR 10.2 million.
The operating earnings were EBITDA of EUR 7.3 million (previous year EUR
7.2 million) and EBIT of EUR 3.5 million (previous year EUR 3.5 million)
due to the seasonally weak first quarter in the heating market. In addition
to seasonal variation, the Gas Flue Systems segment suffered from exchange
rate effects due to the higher volume of business in non-euro countries,
particularly in the US dollar region and in the UK; this effect diminished
earnings to the tune of more than EUR 0.5 million. Earnings before tax
(EBT) amounted to EUR 1.8 million and were therefore around 72 % up on the
prior-year figure (EUR 1.0 million). Earnings after tax (EAT) doubled to
EUR 1.4 million. Earnings per share (EPS) amounted to EUR 0.08 (previous
year: EUR 0.04; reported in Q1/2007 Quarterly Report: EUR 0.08 prior to
issuance of bonus shares).
It is fundamentally not possible to extrapolate the performance in the
first quarter over the full year because the low absolute level of earnings
due to seasonal factors produces a high percentage of fluctuation in the
overall result. The positive revenue trend in the year to date in the
slightly recessive German heating systems market and sustained growth in
other international markets nevertheless mean that business progress is
entirely on track for meeting the forecasts for 2008 as a whole. CENTROTEC
expects consolidated annual revenue of EUR 435 to 445 million in 2008,
coupled with operating results of EUR 47 to 49 million at EBITDA level and
EUR 32 to 34 million at EBIT level. Earnings per share are forecast to
reach EUR 1.10 to 1.15.
Thanks to its competitive portfolio of energy-saving concepts, the
CENTROTEC Group is in a very good overall position to continue benefiting
overproportionally from growth in system solutions for energy efficiency
and the use of renewable energies in buildings growth that is being
driven by spiralling energy prices and climate protection initiatives. At
the same time it will be able to make headway with its drive for
international expansion. A whole array of successful new product launches
and positive test results confirm its capability to achieve these
objectives.
For further information:
Dr. Frank Rose, tel.: +49 (0) 2961 96631-104
or:
MetaCom Corporate Communications GmbH
Georg Biekehör, tel.: +49 (0) 6181 98280-30
DGAP 15.05.2008
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Language: English
Issuer: CENTROTEC Sustainable AG
Am Patbergschen Dorn 9
59929 Brilon Deutschland
Phone: +49 (0)2961 96631-0
Fax: +49 (0)2961 96631-100
E-mail: ir@centrotec.de
Internet: www.centrotec.de
ISIN: DE0005407506
WKN: 540750
Indices: Prime Standard; GEX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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DGAP-Adhoc: CENTROTEC Sustainable AG: Q1/2008 figures
| Source: EQS Group AG