INDUS Holding AG reports positive performance in the first nine months of 2005
- EBIT up 20% to EUR 48.6 million
- Full-year projections confirmed
Bergisch Gladbach, November 30, 2005 – As expected, the performance of the investments and the two new acquisitions of INDUS Holding AG (ISIN DE0006200108) in the third quarter was positive.
Group sales rose by 24.5% to EUR 204.5 million (Q3/2004: EUR 164.3 million). This strong increase is not least attributable to the first-time consolidation of SELZER and MIGUA. “But our existing investments also developed more than satisfactorily,” said Helmut Ruwisch, Chairman of INDUS Holding AG. Total sales for the first nine months rose moderately from EUR 520.3 million to EUR 521.6 million, which means that the effect of the deconsolidation of OKIN which contributed roughly EUR 48 million to 2004 sales was more than offset.
Earnings before interest and taxes (EBIT) surged by 78.8% from EUR 13.7 million to EUR 24.5 million in the third quarter. The result from ordinary activities soared by 140.5% from EUR 7.4 million to EUR 17.8 million. The Group’s share in the result for the third quarter clearly improved from EUR 2.3 million to EUR 7.2 million
Total EBIT for the first nine months rose by 20% from EUR 40.5 million to EUR 48.6 million, while the result from ordinary activities climbed 34.8% from the previous year’s EUR 22.1 million to EUR 29.8 million. Income taxes increased from EUR 10.4 million to EUR 16.9 million. In this context, it should be noted that the previous year benefited from tax loss carryforwards from MABEG and others. The Group’s share in the result for the period climbed 47.8% from EUR 6.7 million to EUR 9.9 million, which translates into earnings per share of EUR 0.55, compared to EUR 0.37 in the same period of the previous year.
Income from investments for INDUS Holding AG rose by 6.7% from EUR 56.4 million to EUR 60.2 million in the first nine months of 2005. Earnings before taxes (EBT) was up 7.1% on the previous year’s EUR 32.4 million to EUR 34.7 million. Net income for the period increased by 3.5% from EUR 31.1 million to EUR 32.2 million. Earnings per share amounted to EUR 1.79, up from EUR 1.73 in the first nine months of 2004.
“The anticipated strong performance in the third quarter confirms the projections we established at the beginning of the year,” said Helmut Ruwisch. Although the macroeconomic environment remains difficult, the Managing Board expects both sales and earnings to grow. The 2005 financial statements will be the Group’s first to be established to International Financial Reporting Standards (IFRS). Due to the positive effects of the adoption of IFRS and the good performance of the investments, the Group’s results will be up on the previous year. INDUS Holding AG will continue to prepare its financial statements to HGB and will also report better results than in the previous year.
back
