INDUS confirms sales target for 2010
- Q1 EBIT doubled to EUR 18.2 million
Bergisch Gladbach, May 27, 2010 - INDUS Holding AG has emerged from the recession and clearly outperformed the economy in the first quarter of 2010. While the gross domestic product was up by only 1.7% on the same period of the previous year, INDUS reported a 16% increase in sales to EUR 206.2 million.
The turnaround is even more impressively reflected in earnings before interest and taxes (EBIT), which rose by a solid 100% to EUR 18.2 million. “The restructuring initiatives have taken effect,” said Helmut Ruwisch, CEO of INDUS Holding AG. “Our quarterly EBIT are almost back to pre-crisis levels.” Net income for the first quarter of 2010 amounted to EUR 6.2 million (Q1 2009: EUR 0.1 million).
All segments contributed to this performance, albeit to different degrees. The Vehicle Components/Engineering segment made an impressive turnaround, and strong growth was achieved also by the Metal/Metal Processing segment. While the Engineering segment continues to benefit from its order backlog, incoming orders do not indicate a turnaround in 2010. The Medical Engineering/Life Science and Construction/Infrastructure segments showed a positive performance.
The projections for the full year 2010 therefore remain carefully optimistic. Overall, INDUS projects noticeable sales growth and a disproportionate increase in earnings. At the operating level, the company continues to focus on product innovations in the existing portfolio. Rising energy and commodity prices could have an adverse impact on the earnings position; the same applies to the current uncertainty in the capital markets, which may pose a significant risk to what is still a fragile economic recovery. The Management Board sees good opportunities for external growth through acquisitions for 2010 and 2011. The company projects sales in excess of EUR 800 million and EBIT between EUR 60 and 70 million.
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