CENTROTEC Sustainable AG / Key word(s): Half Year Results
11.08.2011 07:31
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Brilon, August 11, 2011: the SDAX-listed company CENTROTEC Sustainable AG
achieved organic growth of 7.7 % in the first half of 2011 and posted
another revenue record of EUR 234.3 million (previous year EUR 217.7
million). The core segment Climate Systems served as the bedrock of this
steady corporate development, with its revenue growing disproportionately
by 11.7 % to EUR 161.4 million (previous year EUR 144.5 million). The
smallest segment, Medical Technology & Engineering Plastics, was yet again
the fastest-growing area with revenue up 23.4 % to EUR 21.1 million
(previous year EUR 17.1 million). Equally, core business in the Gas Flue
Systems segment made positive progress but this was insufficient to
counterbalance the sharp downturn in certain peripheral areas, such as in
due to short term regulatrory changes specifically weak solar components
business in France; the net result was therefore a 7.5 % fall in revenue to
EUR 51.8 million compared with the very strong prior-year revenue of EUR
56.0 million. In the second half of the year growth is expected in this
segment.
The operating result for the first half was pushed slightly below the
record figures for the previous year by a variety of effects, including
commodity price movements, for which we are only able to compensate with a
certain delay, along with the temporary weaker performance of peripheral
activities in the Gas Flue Systems segment, and start-up costs for new
areas of business also in that segment. EBITDA was down 9.1 % to EUR 17.4
million (previous year EUR 19.1 million) and EBIT fell by 19.1 % to EUR 8.2
million (previous year EUR 10.1 million). Because the non-cash earnings
contribution of the equity investment CENTROSOLAR has temporarily fallen
well short of expectations, earnings per share (EPS) were significantly
reduced to EUR 0.12 (previous year EUR 0.46).
In light of its first-half result and the outstanding market position it
enjoys for energy-saving solutions for buildings, CENTROTEC emphatically
confirms the full-year forecast for 2011 of consolidated revenue of EUR 520
to 535 million; it also expects to achieve an operating result (EBIT)
coming in at the lower end of the forecast range, at EUR 40 million.
However, the full-year forecast for earnings per share (EPS) is adjusted to
EUR 1.35 to 1.45 (previously EUR 1.70 to 1.80) due to the unexpectedly
sharp downgrading in the earnings forecast of the investment subsidiary
CENTROSOLAR.
CENTROTEC Sustainable AG
CENTROTEC Sustainable AG and its subsidiaries enjoy a presence in over 50
different countries. The principal group companies are Wolf Heiztechnik,
Brink Climate Systems and Ned Air in the Climate Systems segment, which
have specialised in heating, climate control and ventilation technology
e.g. in the form of solar thermal systems, heat pumps, CHP units, climate
control and ventilation systems with heat recovery for residential and
commercial buildings, as well as Ubbink and Centrotherm, which have focused
on plastic gas flue and air ducting systems and solar system components in
the Gas Flue Systems segment. CENTROTEC is consequently Europe's only
listed full-service provider of solar thermal systems and energy-saving
solutions for buildings.
CENTROTEC Sustainable AG, Am Patbergschen Dorn 9, D-59929 Brilon, Germany
ISIN: DE0005407506, WKN: 540750, home stock exchange: Frankfurt am Main
Indices: SDAX, DAXplus Family, Prime All Share, Prime Industrial
For further information, contact:
CENTROTEC Sustainable AG, Dr Frank Rose, Tel: +49 (0)2961 96631-104 or
MetaCom Corporate Communications GmbH, Georg Biekehör, Tel: +49 (0)6181
98280-30
11.08.2011 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: CENTROTEC Sustainable AG
Am Patbergschen Dorn 9
59929 Brilon
Germany
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: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of Announcement DGAP News-Service
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DGAP-Adhoc: CENTROTEC Sustainable AG: CENTROTEC maintains organic revenue growth - core business strong - EPS suffers from investment result
| Source: EQS Group AG