Announcement no. 01 - 2011/12 June 8, 2011
Annual report for the financial year ended April 30, 2011
The Board of Directors of Thrane & Thrane A/S today approved the company’s annual report for the 2010/11 financial year ended April 30, 2011.
“The operating profit generated in 2010/11 was the best-ever in Thrane & Thrane’s almost 30-year history”, said Walther Thygesen, CEO of Thrane & Thrane, the world’s leading manufacturer of global mobile communication based on advanced satellite and radio communication.
“The results were achieved through focused development of new products and controlled initiatives in new markets combined with our persistent efforts to enhance profitability. Thus, the return on invested capital almost doubled to more than 15%”, said Walther Thygesen.
Financial highlights
- Revenue for the 2010/11 financial year ended on April 30, 2011 increased by 4% to DKK 1,093 million (DKK 1,051 million).
- Revenue in the aeronautical and land mobile markets increased by 62% and 18%, respectively. Revenue in the maritime area was up by 3%.
- Operating profit increased by 70% to DKK 194 million (DKK 114 million).
- The operating margin was up to 17.8% (10.8%).
- The cash inflow from operating activities before changes in working capital increased to DKK 318 million (DKK 269 million).
- DKK 153 million was used for product development and product maintenance in 2010/11 (DKK 145 million), equivalent to 14.0% of revenue (13.8%).
- Equity amounted to DKK 970 million at April 30, 2011 (DKK 864 million), and the equity ratio was 57.2% (51.9%).
- Return on invested capital was 15.4% (8.3%).
- For the 2011/12 financial year, Thrane & Thrane expects revenue of around DKK 1,125 - 1,175 million (DKK 1,093 million) and an operating margin of around 17% (17.8%).
- Thrane & Thrane’s Board of Directors intends to recommend to the shareholders at the annual general meeting to be held on June 30, 2011 that a dividend of DKK 8.00 per share of DKK 20 be paid (DKK 6.00).
Thrane & Thrane will hold a meeting for analysts and the press at 10 a.m. today at NASDAQ OMX Copenhagen, Nikolaj Plads 6, Copenhagen K. At the meeting, the Management Board will review the company’s performance, expectations for 2011/12 and the perspectives for the further development of the company.
The company’s annual report can be downloaded from www.thrane.com.
For further information, please contact
John Alexandersen, Vice President
Corporate Communications & Investor Relations
Tel. (+45) 39 55 88 35 or (+45) 22 72 38 22 (mobile)
E-mail ja@thrane.com
About Thrane & Thrane
Thrane & Thrane is the world’s leading manufacturer of equipment and systems for global mobile satellite and radio communication. Since its incorporation in 1981, the company has achieved a leading position within global mobile satellite services based on the Inmarsat system. The company provides equipment for use everywhere – on land, at sea and in the air. The company’s communication products are marketed worldwide under the brands Thrane & Thrane, EXPLORERTM, SAILOR® and AVIATOR through distributors and business partners. The company’s shares are listed on NASDAQ OMX Copenhagen (THRAN). www.thrane.com.
