HELMA Eigenheimbau AG / Key word(s): Half Year Results
29.09.2010 09:12
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HELMA Eigenheimbau AG publishes semi-annual report / Forecast for FY 2010
confirmed: 28% revenue growth to EUR 80 million and tripling of Group EBIT
to EUR 3.0 million anticipated
Lehrte, September 29, 2010 - HELMA Eigenheimbau AG, the specialist for
individual solid-construction houses and sustainable energy concepts,
raised Group revenue by around 10.6% to EUR 29.2 million in the first half
of 2010. Land purchases during the period under review also resulted in a
positive EUR 3.7 million change to unfinished goods, thereby increasing
total output by a total amount of around EUR 6.5 million to EUR 33.0
million. When adjusted for the change in unfinished goods arising from land
purchases, the gross margin measured in terms of total output was slightly
above the previous year's level of 20%. Both the personnel expense and
other operating expenses were at the budgeted level at the mid-year stage.
As a consequence, consolidated EBIT in the first six months of the current
financial year of EUR -0.3 million (H1 2009: EUR -0.5 million) already
represented a slight improvement compared with the previous year. It should
be noted in this context that, due to the long and severe winter in the
first half of 2010, there were essentially only approximately 3.5 months
available for this output to be realised. Given this situation, the scope
of construction progress achieved is very satisfactory. As in previous
years, the company will generate the major share of its revenues in the
second half of the year. The largest order book position in the company's
history represents a very solid basis in this context.
CONTINUED GROWTH IN NEW ORDERS:
In the first six months of the current financial year, the HELMA Group
continued its dynamic growth rate in new orders, and boosted its net new
order intake by more than 8% to EUR 49.2 million. The net order book
position amounted to EUR 92.6 million as of June 30, 2010 (June 30, 2009:
EUR 72.2 million), and consequently represents an excellent basis for a
strong second half of 2010, and the attainment of the significant revenue
and earnings growth targeted for the full 2010 year.
REVENUE AND EARNINGS FORECAST CONFIRMED / RECORD YEAR ANTICIPATED IN 2010:
In light of the record order book position at the mid-year stage (+28%),
the satisfactory construction progress, and the expectation that final
invoices will be submitted for three times as many building projects in the
second half of the year as in the first half, the Management Board is
confirming its forecast for the 2010 financial year. Consequently, the
company continues to assume that consolidated revenue will grow to EUR 80.0
million, and that Group EBIT will almost triple to EUR 3.0 million.
In this context, and according to the company's budget, the property
development subsidiary HELMA Wohnungsbau GmbH will for the first time
contribute significantly more than EUR 10 million to consolidated revenue
in the 2010 financial year. Land purchases that have already been completed
will feed through to a further increase in the revenue share of the
high-margin property development business in subsequent years. Revenues of
around EUR 15 million are already anticipated in this area in 2011. If the
company succeeds in concluding the purchase of further attractive plots of
land over coming months, revenues in the property development area of more
than EUR 20 million would even be feasible in the future.
In its core construction services business, too, the company's Management
Board continues to assume rising sales figures, as a consequence of which
tangible overall Group revenue growth is anticipated also over the coming
years. Due to economies of scale, this would additionally feed through to a
further reduction in cost ratios, thereby enabling the medium-term
achievement of sustainable EBIT margins in the 6-8% range.
THE HALF-YEAR REPORT IS AVAILABLE AT THE FOLLOWING LINK FOR DOWNLOADING:
http://www.helma.de/fileadmin/user_upload/Helma_IR/half_year_report2010.pdf
ABOUT HELMA EIGENHEIMBAU AG:
HELMA Eigenheimbau AG is a customer-oriented building services-provider
offering a full range of services. The focus is on the development,
planning, sale, and construction management of turnkey or partially
completed detached and semi-detached houses using the solid construction
method. Particularly the option of individual planning and
individualisation without extra costs, as well as the company's outstanding
know-how in the area of energy-efficient construction methods, are
perceived on the markets as HELMA Eigenheimbau AG's unique selling
propositions. With its persuasive sustainable energy concepts, the company
has established itself as one of the leading providers of solar
energy-saving homes, and is one of the most experienced companies in the
solid construction house sector, having constructed several thousand
owner-occupier homes. As a property development company and a finance
broker respectively, HELMA Wohnungsbau GmbH and Hausbau Finanz GmbH expand
HELMA Group's product range.
INVESTOR RELATIONS CONTACT:
Gerrit Janssen, Management Board member, CFO
Tel.: +49 (0)5132 8850 113
E-mail: ir@helma.de
29.09.2010 09:12 Dissemination of a Corporate News, transmitted by DGAP -
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Language: English
Company: HELMA Eigenheimbau AG
Zum Meersefeld 4
31275 Lehrte
Deutschland
Phone: +49 (0)5132/8850-0
Fax: +49 (0)5132/8850-111
E-mail: info@helma.de
Internet: www.helma.de
ISIN: DE000A0EQ578
WKN: A0EQ57
Listed: Freiverkehr in Hamburg, Berlin, Düsseldorf, Stuttgart; Entry
Standard in Frankfurt
End of Announcement DGAP News-Service
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DGAP-News: HELMA Eigenheimbau AG publishes semi-annual report / Forecast for FY 2010 confirmed: 28% revenue growth to EUR 80 million and tripling of Group EBIT to EUR 3.0 million anticipated
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