INDUS with strong basis for further acquisitions: Sales growth of 11.2 % to Euro 684.8 million in first nine months Group EBIT ahead of previous year
Bergisch Gladbach, 30. November 2007 - INDUS Holding AG (DE0006200108) can look back on a pleasing business performance in the first nine months of 2007. “We remain on a clear growth course”, commented Helmut Ruwisch, CEO of INDUS Holding AG, with regard to the positive development in sales and earnings in the course of the year to date. “On an operating level, we have even slightly exceeded the strong performance reported in the previous year, and that in spite of significant negative factors, such as rising commodities prices, the appreciation of the Euro and the high level of collectively agreed pay increases.”
For the Group as a whole, INDUS posted substantial sales growth of 11.2 % to Euro 684.8 million (previous year: Euro 615.6 million). The international share of sales amounted to 39.2% and was thus higher than in the previous year. Thanks to the various rationalization measures, the material expense ratio could be maintained at a constant level of 47.5 % in spite of the increase in commodity and energy prices. The personnel expenses ratio showed a marginally positive development, declining by 0.2 percentage points to 26.1 %. At Euro 75.6 million, earnings before interest and taxes (EBIT) were 1.6 % up on the strong figure of Euro 74.4 million reported in the previous year. Net income after minority interests, which also benefited from the positive impact of the German corporate tax reform, showed significant growth of 26.5 % to reach Euro 37.2 million (previous year: Euro 29.4 million).
At the holding company (AG), income from shareholdings rose slightly by 3.0 % to Euro 59.1 million (previous year: Euro 57.4 million). Net income for the period grew by 3.1% to Euro 36.6 million (previous year: Euro 35.5 million).
With liquid funds of more than Euro 80 million and an equity capital of 50.4 % at the holding company (AG), INDUS is well-armed for further acquisitions. “We deliberately opted for a reserved acquisitions strategy in the past two years because we were not prepared to accept overly inflated valuation criteria”, underlined Ruwisch. The current crisis in the financial sector had triggered a normalization in prices for company acquisitions. However, this process still had some way to go. “We will only be active again in the market once prices have reached more attractive levels”, added Ruwisch. For the 2007 financial year as a whole, the Management Board expects sales to show substantial growth to more than Euro 900 million. Positive developments are also expected in the Group’s earnings figures.
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