INDUS considerably profitable in spite of crisis
• Cost-cutting program successful
• Sales and earnings projections exceeded for 2009
Bergisch Gladbach, March 15, 2010 - Thanks to a bundle of measures launched at the end of 2008, INDUS Holding AG reported positive consolidated earnings before interest and taxes (EBIT) of EUR 53 million (provisional) for the past fiscal year. This means that, in spite of the economic crisis, the Group achieved a respectable result as compared to the boom year 2008 (2008 EBIT: EUR 90.8 million). While sales revenues declined as announced, they exceeded the projected EUR 740 - 750 million, at approx. EUR 770 million (2008 sales: EUR 920.1 million).
"These results are quite respectable in view of the crisis and thus vindicate our long-term strategy of investing in profitable niche segments and diversifying the risk across a broad portfolio. INDUS is reliable and stable especially in times of recession", said Helmut Ruwisch, CEO of INDUS Holding AG.
Since the slump in Q1 2009, the Group’s sales and earnings position has improved steadily. The fourth quarter showed a clear upward trend, with sales and EBIT coming in at approx. EUR 200 million and EUR 17.4 million, respectively. For the current year INDUS expects sales to rise again in the existing portfolio. At EUR approximately 90 million, the Group’s liquidity at the end of the year 2009 remained high and provides a basis for further acquisitions. Two acquisitions were reported in the first quarter (OBUK und HAKAMA).
The final figures will be published on April 26, 2010.
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