Deufol AG with a stronger operating first half year 2012

Hofheim am Taunus, (PresseBox) - .
- Sales € 158.0 million (+ 3.9 %; previous year € 152.1 million)
- Adjusted EBITA (after one-off expenses) € 5.16 million (+ 20.3 %)
- EBITA from continuing operations € 2.61 million (- 50.5 %; previous year € 5.07 million)
- Operating cash flow € 5.67 million (previous year € 4.37 million)

Sales in the first six months up 3.9 %

Total sales in the first six months of 2012 were at € 158.0 million 3.9 % higher than in the same period in the previous year. Adjusted for the 10 % average appreciation of the US dollar versus the euro, this growth amounts to 2.0 %. With a 56.4 % share of Group sales, the proportion accounted for by Ger-many remained stable compared to the previous year. The share of sales realized elsewhere in Eu-rope decreased, from 28.4 % to 25.6 %, and the USA's share of sales fell by 2.6 percentage points to 17.9 %.

Adjusted operating result 20% above previous year

The operating result (EBITA) adjusted by one-off expenses amounted to € 5.16 million and thus ex-ceeded the previous year's figure of € 5.07 million. One-off expenses of € 2.65 million arose predomi-nantly in connection with the € 26 million action for damages against former managers of the compa-ny. But included are also costs associated with the conversion into a European public limited company (SE) and for the introduction of registered shares. In the first half of 2012, the unadjusted EBITA amounted to € 2.51 million. Including a one-off effect in Belgium in the second quarter of 2011 (re-lease of liabilities to employees in the amount of € 0.78 million), the comparative operating basis amounted to € 4.29 million. Hence, the comparative operating result is around 20.3 % above the pre-vious year.

The individual segments performed as follows in the first six months: In Germany we recorded a wel-come increase in EBITA from € 2.67 million to € 3.89 million. This development reflects initial success for the reorganization and integration measures launched by the company. In the Rest of Europe, EBITA declined by 34.1 % to € 2.36 million, mainly due to the discontinuance of the one-off effect in Belgium (see above). The USA / Rest of the World segment realized a result of € 0.16 million (previ-ous year: € 0.18 million). This reflected expenses associated with the expansion of capacity in the Data Packaging division. The EBITA loss of Deufol AG (Holding), were most of the one-off expenses occurred, was € 3.87 million (previous year: € 1.35 million) as a consequence of the one-off expenses.

Unadjusted earnings before taxes (EBT) in the first half year were € 0.79 million (previous year: € 3.18 million). After income tax expenses (€ 1.45 million), the result from continuing operations is - € 0.66 million, compared to € 1.72 million in the first six months of 2011.

The discontinued operation "Carton Business" in the USA led to a loss of € 0.29 million (previous year: - € 0.43 million). The loss consists of a current loss of € 0.04 million and the final measurement of the pension commitment (- € 0.25 million). This means a result for the period of - € 0.95 million (previous year: € 1.29 million)

After deduction of the profit shares of noncontrolling interests (€ 0.21 million), there is a net loss of € 1.16 million (previous year: profit of € 1.02 million) attributable to the shareholders of Deufol AG. Earnings per share in the first six months were - € 0.028 (previous year: € 0.023).

Financial position

In the first six months, the cash flow provided by operating activities amounted to € 5.67 million and was thus significantly higher than the level in the previous year (€ 4.37 million).

The financial liabilities of the Deufol Group decreased in the first six months of the fiscal year by € 0.8 million to € 78.8 million. As cash and financial receivables simultaneously decreased (- € 2.1 million), the net financial liabilities rose by € 1.3 million, from € 57.9 million at the end of the year to € 59.2 million.

Outlook

The plan for the 2012 fiscal year anticipated sales between € 315 million and € 330 million and an operating result (EBITA) between € 12 million and € 14 million. Deufol AG has confirmed the plan in terms of sales and expects EBITA adjusted by one-off expenses to be in the forecast range. One-off expenses of up to € 4.5 million are expected for this year.

Further, management expects that Deufol share trading will return to normal after the introduction of registered shares.

The Semi-Annual Financial Report is available on the internet at http://www.deufol.com.

Diese Pressemitteilungen könnten Sie auch interessieren

News abonnieren

Mit dem Aboservice der PresseBox, erhalten Sie tagesaktuell und zu einer gewünschten Zeit, relevante Presseinformationen aus Themengebieten, die für Sie interessant sind. Für die Zusendung der gewünschten Pressemeldungen, geben Sie bitte Ihre E-Mail-Adresse ein.

Es ist ein Fehler aufgetreten!

Vielen Dank! Sie erhalten in Kürze eine Bestätigungsemail.


Ich möchte die kostenlose Pressemail abonnieren und habe die Bedingungen hierzu gelesen und akzeptiert.