CENTROTEC Sustainable AG / Key word(s): Quarter Results
10.11.2011 07:38
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Brilon, November 10, 2011: The SDAX-listed company CENTROTEC Sustainable AG
again posted record revenue in the third quarter of the current financial
year. Revenue for the quarter climbed 9.2 % to EUR 143.8 million and
therefore just outstripped the 8.2 % growth rate for the first nine months
of 2011, which took the total for the year to date to EUR 378.1 million
(previous year EUR 349.4 million). The Climate Systems segment contributed
most to this growth, expanding by 11.1 % to EUR 266.1 million (previous
year EUR 239.6 million); Dreyer & Bosse Kraftwerke GmbH, acquired at the
end of August, was included here for the first time. The Gas Flue Systems
segment achieved revenue growth over a quarter for the first time since
more than a year (+7.7 %), largely compensating for the revenue downturn of
the first two quarters that was prompted by the slump in French business
for photovoltaic components. The segment's revenue of EUR 81.3 million for
the year to date (previous year EUR 83.4 million) was consequently just 2.5
% down on the previous year. The Medical Technology & Engineering Plastics
segment achieved 16.4 % revenue growth over the first nine months, and a
total of EUR 30.8 million (previous year EUR 26.4 million).
The result for the group before taking non-recurring effects into account
was likewise fundamentally positive, despite noticeable pressure from
sharply increased commodity prices. However, the expenses and write-downs
following the streamlining of the own product range and the impairment
applied to the interest in CENTROSOLAR Group AG significantly undermined
all key earnings figures. EBITDA was reduced by expenses by 24.0 % to EUR
29.0 million (previous year EUR 38.1 million). Additional non-cash
write-downs also weighed on EBIT, which consequently fell by 49.6 % year on
year, down from EUR 24.5 million to EUR 12.4 million. The impairment of EUR
15.0 million applied to the interest in CENTROSOLAR, again a non-cash
charge, and the accumulated investment losses from the first three months
mean that earnings before tax (EBT) are negative at EUR -8.5 million
(previous year EUR +24.5 million). Earnings after tax (EAT) were therefore
EUR -12.9 million (previous year EUR +17.6 million), producing EPS of EUR
-0.73 (previous year EUR +1.06), of which the investment result and the
impairment of CENTROSOLAR alone were responsible for a component of EUR
-0.98.
For the financial year in progress, revenue will reach the lower limit of
the forecast range of EUR 520 million, compared with EUR 480 million for
the previous year. Over the full year, the operating result (EBIT) most
recently forecast at EUR 40 million will be approx. 25 to 35 % down on the
prior-year figure of EUR 36.2 million. Earnings per share (EPS), most
recently forecast to reach EUR 1.35 to 1.45, will now be negative by a few
cents (previous year: EUR 1.54) mainly because of the impairment on the
CENTROSOLAR investment value and the profit attributable to the equity
investment.
Following the streamlining of the business portfolio, especially in the
area of own photovoltaic activities, the positive general situation and the
strong market position of CENTROTEC's companies in their core business
areas lead the company to expect the fundamentally positive business trend
of recent years to continue in 2012. The operating result (EBIT) target
that will be missed in 2011 should therefore certainly be achieved in the
coming 2012 financial year. As usual, a precise annual forecast for 2012
will be published at the start of the new financial year.
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
10.11.2011 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 sets another revenue record - non-recurring effects weigh on earnings
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