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Schaltbau Group again reports high order intake in second quarter

DGAP-News: Schaltbau Holding AG / Key word(s): Quarter Results/Change in Forecast

2016-07-26 / 10:23
The issuer is solely responsible for the content of this announcement.

Schaltbau Group again reports high order intake in second quarter

Munich, 26 July 2016 – Again in the second quarter 2016, the Schaltbau Group remained steadily on course for growth. According to preliminary figures, order intake for the globally operating transportation technology group grew by 23.8 per cent to reach EUR 163.6 million. The steep second-quarter rise was mainly attributable to the securing of two major orders in the mobile transportation technology segment for train door systems and sanitary modules. Contributions from Schaltbau’s Italian subsidiary SPII in the Components segment, which were not yet included in Group figures the previous year, provided additional momentum. Compared with 2015, order intake rose by 23.0 per cent to EUR 319.1 million for the first six months of the year, the highest half-year figure ever recorded in the history of the company. At EUR 395.5 million, the order book also marked an all-time high at the half-way stage of the year.

Sales for the period went up by 5.1 per cent to EUR 247.7 million. Sales figures for the Mobile Transportation Technology segment were slightly down on the high volume seen the previous year, which was characterised by the processing of a major order at RAWAG. Growth was driven partially by the positive order situation in the Brake Systems business field and for signal technology products and also by the first-time consolidation of SPII in the Components segment.

Despite project delays in the second quarter, EBIT more than doubled compared with the first three months of the year and came in at EUR 8.4 million (April to June 2015: EUR 11.2 million). EBIT for the six-month period therefore dropped to EUR 12.4 million, compared with EUR 19.6 million one year earlier.

The sales target for the full year 2016 has been moderately adjusted from EUR 550 million to EUR 530 million, as the consolidation of Albatros had originally been planned to take place earlier. The full consolidation of Albatros, which is now scheduled for the second half of the current year, will give rise to positive contributions within the Group, particularly due to a one-off revaluation gain in the result from investments. The management team therefore reaffirms its earnings targets for the full year 2016. Project delays from the third into the fourth quarter 2016 have already been taken into account, which means the third quarter is also likely to end with an EBIT down on that of the previous year.

With annual sales approaching EUR 500 million and 3,000 employees worldwide, the Schaltbau Group is a leading supplier of components and systems in the field of transportation technology and the capital goods industry. The companies of the Schaltbau Group supply complete level crossing systems, train formation and signal technology, door and boarding systems for buses, trains and commercial vehicles, sanitary systems, interior fittings, communications and safety systems for railway vehicles, industrial brakes for container cranes and wind turbines, and also high- and low-voltage components for rolling stock as well as for other fields of application. Its innovative and future-oriented products make Schaltbau a key industrial business partner, particularly in the field of transportation technology.

2016-07-26 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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