DGAP-News: Turbon AG / Key word(s): Final Results
Turbon AG: Group financials 2012 - preliminary figures
05.03.2013 / 10:25
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Turbon AG - Group financials 2012 - preliminary figures
In the year 2012 the following preliminary sales and results were achieved:
consolidated sales in the financial year were Euro 84.9 million (previous
year: Euro 80.7 million). EBIT was Euro 7.5 million (previous year: Euro
7.4 million) and the result from ordinary operations was Euro 6.3 million
(previous year: Euro 5.9 million). After deduction of income taxes, the
Group net income in 2012 was Euro 4.1 million (previous year: Euro 3.7
million).
Both the earnings figures for the year 2012 and the previous year's figures
take into account the inclusion of the property Hattingen in the
consolidated financial statements.
In 2012 Kores Nordic Belgium (KNB) is included in the consolidated
financial statements for the last time, since the company was divested
meanwhile. Reasons for the divesture of the company which mainly sells OEM
printer accessories and paper products and is therefore not a part of the
core business of the Turbon Group are continued losses originating from
both, operations and pending legal proceedings in connection with Sales Tax
not paid by suppliers of the company in 2003 and 2004 (see Annual Report
2006). The company initially won the first instance of the lawsuit but to
our very surprise lost in the appeal instance. As the company does not
belong to the core business of the Turbon Group, the executive board views
the expenditure, required to return to a profitable business at KNB, as
disproportionate for the Turbon Group. Instead the Group's resources should
be further concentrated on the expansion of our core business. Due to the
divesture we incurred a onetime book loss of Euro 0.5 million as of
December 31, 2012. As this onetime book loss was offset for by positive
effects on earnings per December 31, 2012 (additional positive effect by
the inclusion of the property Hattingen in the consolidated financial
statements and non-utilization of provisions) in the total amount of Euro
0.4 million the planned earnings figures for 2012 still have been achieved.
In 2013, the divestment of KNB will not have an effect on the earnings
figures but will cause a reduction of about Euro 4.0 million in the
consolidated sales figures. We though expect to compensate this negative
effect with sales growth in our core business and plan for 2013 with
consolidated sales of Euro 85.0 million and as in 2012 again with earnings
before taxes of Euro 6.3 million. In Europe as well as in the USA we did
strengthen our sales teams with additional members. This measure should
result in further sales growth with newly acquired customers starting in
the second half of 2013 and should lead to a significant sales leap in
2014. To be able to turn the planned sales growth into growing earnings
figures, the reduction of manufacturing and logistics cost will continue to
be a key focus of our activities. Through the successful combination of all
measures we should be able to continue to strengthen our market position in
Europe but particularly also in the USA.
The Supervisory Board Meeting resolving the 2012 financials will take place
on April 18, 2013. Subject in this meeting will also be the dividend
recommendation to the annual shareholder meeting taking place on June 20,
2013 in Hattingen. The complete annual report for the fiscal year 2012 will
be published on April 19, 2013 on our website at www.turbon.de and will be
available at Turbon AG (Sekretariat, Ruhrdeich 10, 45525 Hattingen) from
April 29, 2013.
Hattingen, March 5, 2013
Turbon AG
End of Corporate News
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Language: English
Company: Turbon AG
Ruhrdeich 10
45525 Hattingen
Germany
Phone: +49 (0)2324 - 504-0
Fax: +49 (0)2324 - 504-156
E-mail: info@turbon.de
Internet: http://www.turbon.de
ISIN: DE0007504508
WKN: 750450
Listed: Regulierter Markt in Düsseldorf, Frankfurt (General
Standard); Freiverkehr in Berlin, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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202980 05.03.2013
DGAP-News: Turbon AG: Group financials 2012 - preliminary figures
| Source: EQS Group AG