INDUS reports positive performance for 2005:
- Growth in sales and earnings
- Sales expected to climb to EUR 800 million in 2006
Bergisch Gladbach, May 2, 2006 - As had been projected, fiscal 2005 was a positive year for INDUS Holding AG (ISIN DE0006200108). “We were able to increase both our sales and our operating result,” said a satisfied Helmut Ruwisch at today’s annual accounts press conference in Düsseldorf. “Our investments have developed successfully. Additional positive effects resulted from the first-time consolidation of the two latest acquisitions, Selzer and Migua."
With effect from the fiscal year 2005, the Group adopted International Financial Reporting Standards (IFRS), while INDUS Holding AG will continue to prepare its financial statements to HGB.
Development of INDUS AG / Dividend
INDUS Holding AG’s income from investments rose from EUR 77.3 million to a new record level of EUR 84.4 million. At EUR 52.7 million, net income for the year was also up on the previous year’s EUR 50.5 million. Against the background of the positive development, the Managing Board and the Supervisory Board will propose to the shareholders at this year’s Annual General Meeting on July 11, 2006 that the dividend be raised to EUR 1.20 per share. “As in the past, we will give our shareholders an appropriate share in the performance of INDUS Holding. At the same time, the retained profits will allow us to further strengthen our equity base,” Helmut Ruwisch commented on this year’s profit appropriation proposal. Based on the current share price of EUR 33.37, the dividend yield amounts to 3.6%.
Effects from the adoption of IFRS in the Group
The adoption of IFRS (previously HGB) has reduced the differences between the financial statements of INDUS Holding AG and the financial statements of the Group. As a result of clearly reduced depreciation/amortisation from first-time consolidation, both the Group’s net income for the year and the equity capital to IFRS are much higher than the respective HGB figures.
Group performance
As projected, the Group’s key figures were up on the previous year due to the adoption of IFRS. Group sales rose from EUR 660.5 million in 2004 to EUR 735.3 million, with 4.7% of this increase contributed by internal growth and 6.6% by external growth. International sales accounted for 35.8% of total sales, up from 35.0% in the previous year. Earnings before interest and taxes (EBIT) climbed from EUR 78.5 million to EUR 79.2 million in the past fiscal year. In this context, it should be noted that the Selzer and Migua acquisitions are included in the 2005 results only on a pro rata temporis basis.
Outlook on 2006
In view of the good cash situation, INDUS repaid the EUR 100 million syndicated loan prematurely in February 2006. The reduced liabilities will lead to positive effects on the financial result in the further course of the year. The financial position of INDUS remains comfortable. Taking into account further acquisitions by the Group, the Managing Board expects sales to grow to approx. EUR 800 million in fiscal 2006, with results projected to develop in sync.
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