Pironet NDH catches up and confirms prediction

(PresseBox) ( Cologne, )
Sales revenues of the Pironet NDH group have again increased significantly in the first half of the year. Sales are up by approximately 6.8% and have reached a value of €28.5 million. New all-time highs were achieved in both quarters. In the software and services sectors, a development in the opposite direction has occurred. Whilst sales in the software division reduced from €7.5 million last year to €6.4 million, service sales increased by 15.1% to €22.1 million. The decline in software sales with a simultaneous increase in depreciations (€2.7 million after €2.3 million) is reflected in the profit levels. EBIT slipped from €1.4 million to €0.9 million. At the same time, the EBIT margin decreased from 5.1% to 3.2%.

However, profitability has been considerably improved throughout the course of the year. EBIT in the first quarter was at €0.3 million, but this was increased to €0.6 million during the period from April to June. The EBIT margin improved between the first and second quarters, rising from 2.3% to almost 4.1%. With slightly weaker financial results (€0.5 million after €0.6 million), the same trend applies to EBT (Q.1: €0.5 million; Q.2: €0.9 million), which fell by 30% to €1.4 million. The same pattern is observed for after-tax results. With €1.0 million after €1.6 million the result is considerably weaker, but perceptibly upwards-moving on a quarterly comparison basis.

Pironet NDH is entering the second half of the year with optimism. The company is well positioned, has innovative, trend-setting products and wants double-digit growth. Its optimism is founded and substantiated with orders in hand as of 30 June worth €48 million - the highest in the company's history. Taking the year as a whole, the board of directors of Pironet NDH AG is expecting a considerable improvement in sales and revenue. Growth will gather pace in the second half of the year. The objective is to exceed the €60 million turnover mark (2007: €53.9 million) with an over-proportionate growth in operating profit. To do so, software sales will need to pick up, which is expected to happen in the fourth quarter.
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