DGAP-News: SKW Stahl-Metallurgie Holding AG / Key word(s): Preliminary
Results
SKW Stahl-Metallurgie Holding AG: SKW Metallurgie with improved
adjusted operative EBITDA
07.02.2014 / 17:21
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SKW Metallurgie with improved adjusted operative EBITDA
* Preliminary adjusted operative EBITDA increased by EUR 2.5 million to EUR
22.0 million
* First successes of earnings increase program EPC visible
* Optimism for 2014
Unterneukirchen (Germany), February 07, 2014. Global specialty chemicals
group SKW Metallurgie attained - according to preliminary, unaudited
figures - in business year 2013 an operative EBITDA in the amount of EUR
22.0 million. Thereby, the capital markets guidance (pledging to surpass
the previous year's figure of EUR 19.5 million) was delivered. This
increase (compared to the previous year) in the amount of EUR 2.5 million
(+13%) is remarkable, in particular with respect to the decrease in steel
production in the relevant geographical markets. The steel industry remains
the most important client industry for the SKW Metallurgie Group and
demands SKW Metallurgie Products mainly in dependence of their own
production volume.
The increase in operative EBITDA is also due to first successes of the
Group-wide earnings increase program 'Every Penny Counts' (EPC), which was
implemented in the second half of 2013.
The accounting EBITDA (compiled according to international accounting
standard IFRS) for business year 2013 - according to preliminary, unaudited
figures - amounted to EUR 15.2 million (previous year: EUR 20.8 million).
Main reasons for that are unrealized - and hence non-cash - foreign
currency effects, which mainly derive from the valuation of Group-internal
loans. In 2012, those currency effects amounted to EUR 1.0 million; in
2013, however, EUR -3.3 million. The remaining decrease also includes the
net effects from two aperiodic legal cases, including the accrual of
provisions (with effect in Q4/2013) based on judgments by the Court of
Justice of the European Union, as already communicated on January 23, 2014.
Central financial performance indicator of the SKW Metallurgie Group
remains 'operative EBITDA', which was introduced in Q3/2013 reporting. This
indicator clearly shows the operative facts and significantly strengthens
the meaningfulness of financial reporting. Unrealized currency effects as
well as aperiodic one-offs from legal cases are of a non-operative nature
and are therefore apt to disguise the view onto operative capabilities.
Hence, the introduction of an operative indicator was a consequent step in
order to be able to present to investors an undisguised view onto the SKW
Metallurgie Group.
In 2014, further earnings improvements are expected from the ongoing
earnings increase program 'Every Penny Counts' (EPC); hence, the Executive
Board of the SKW Metallurgie Group is in an optimistic mood for business
year 2014, which has just commenced. Concrete capital market guidance for
the current year as well as the comprehensive, audited financial figures
for the previous are presented, as usual, at the Annual Financial Press
Conference. This year, the Annual Financial Press Conference is scheduled
to take place in in München/Munich (Germany) on March 28, 2014.
Further information on the Group can be found online at: www.skw-steel.com.
â
Contact
SKW Stahl-Metallurgie Holding AG
Christian Schunck
Head of IR and Corporate Communications
Rathausplatz 11
84579 Unterneukirchen
Germany
Telephone IR/Press: +49 8634 62720-15
Fax: +49 89 5998923-29
E-mail: schunck@skw-steel.com
Internet: www.skw-steel.com
About SKW Stahl-Metallurgie Holding AG
The SKW Metallurgie Group is the global market leader for chemical
additives for hot metal desulphurization, and for cored wire used in
secondary metallurgy. The Group's products enable steel-makers to
efficiently manufacture high-quality steel products. Clients include the
world's leading companies in the steel industry. The SKW Metallurgie Group
has more than 50 years of metallurgical know how, and currently operates in
more than 40 countries. What is more, the Group is a leading supplier of
Quab specialty chemicals, which are mainly used in the global production of
industrial starch for the paper industry. The company's operating business
is broken down into the two core segments 'Cored Wire' and 'Powder and
Granules', and the 'Other' segment. The SKW Metallurgie Group is
headquartered in Germany with production facilities in France, the US (6),
Canada, Mexico, Brazil, South Korea, Sweden, Bhutan, Russia, the Peoples'
Republic of China (2) and India (2 via joint venture).
Shares of SKW Stahl-Metallurgie Holding AG have been listed in Frankfurt
Stock Exchange's Prime Standard since December 1, 2006 with ISIN
DE000SKWM013 (from August 15, 2011: new ISIN DE000SKWM021).
DISCLAIMER
This press release contains statements on future developments that are
based on currently available information and involve risks and
uncertainties that could cause the actual results to differ from these
forward-looking statements. These risks and uncertainties include, for
example, unpredictable changes in political and economic conditions,
particularly in the steel and paper industry, the competitive situation,
interest and currency risks, technological development as well as other
risks and unexpected circumstances. SKW Stahl-Metallurgie Holding AG and
its Group companies accept no obligation to update such forward-looking
statements.
End of Corporate News
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Language: English
Company: SKW Stahl-Metallurgie Holding AG
Rathausplatz 11
84579 Unterneukirchen
Germany
Phone: +49 (0)8634 62720-15
Fax: +49 (0)8634 62720-16
E-mail: info@skw-steel.com
Internet: www.skw-steel.com
ISIN: DE000SKWM021
WKN: SKWM02
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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251717 07.02.2014
DGAP-News: SKW Stahl-Metallurgie Holding AG: SKW Metallurgie with improved adjusted operative EBITDA
| Source: EQS Group AG