INDUS steps up pace of earnings growth
Earnings rise by 34 % in 1st half of 2008
Bergisch Gladbach, August 29, 2008 – A more dynamic earnings performance in the second quarter enabled INDUS Holding AG, which is listed in the SDAX, to post a strong operating performance for the first half of 2008 as a whole. “We have further maintained our growth course in a difficult economic climate”, commented Helmut Ruwisch, Chairman of the com-pany’s Board of Management, with some satisfaction. “As the third quarter has so far developed on target, we are now already in a position to clearly affirm our forecast for the year as a whole.”
Dynamic growth in the second quarter of 2008
“The operating performance gained notably in momentum in the second quarter”, stressed Ruwisch. Consolidated sales rose by 7.0 % over this period to reach Euro 249.1 million (Q2 2007: Euro 232.8m), while operating earnings (EBIT) improved by 8.6 % to Euro 31.5 mil-lion (Q2 2007: Euro 29.0m). Net income for the period showed significantly stronger growth, rising by 43.5 % from Euro 13.1 million to Euro 18.8 million.
Strong first half of 2008
Consolidated sales rose by 3.0 % to Euro 467.1 million in the first half of 2008 (H1 2007: Euro 453.4m). This growth was exclusively due to the positive performance of existing in-vestments. The optimization and rationalization measures implemented at individual companies largely made up for the effects high raw material and energy costs. Earnings be-fore interest and taxes (EBIT) showed disproportionate growth of 6.3 % to Euro 52.7 million. Improved net financial expenses and a significant reduction in the tax rate led net income for the period after minority interests to leap by 33.8 % to Euro 26.9 million (H1 Euro 20.1m). This is equivalent to earnings per share of Euro 1.47, compared with Euro 1.12 in the previ-ous year.
Forecast confirmed for the year as a whole
In view of the strong first half of the year and the pleasing start to the third quarter, the Board of Management has upheld its forecast – notwithstanding increasingly negative economic omens. Accordingly, sales are expected to rise to more than Euro 970 million with an EBIT margin of 10 % to 12 %. The comfortable supply of liquidity is to be increasingly channeled into anti-cyclical activities in the investment market. INDUS is currently holding promising negotiations with acquisition candidates in order to expand its existing portfolio in a targeted manner. “We are confident that we will be able to present initial results before the end of the current year”, commented Ruwisch with regard to the latest status of these talks.
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