Group targets for 2017 confirmed

The Neutraubling-based company communicated in a press release dated 25 October 2017 that order intake increased 10.0 per cent to EUR 2,696.8 million in the first three quarters. Adjusted for acquisitions, the increase was 5.9 per cent. The orders growth was especially strong in Western Europe. Orders on hand at the end of September 2017 were up 14.2 per cent year-on year, from EUR 1,167.0 million to EUR 1,332.6 million.

The company’s revenue in the first nine months of 2017 increased 5.4 per cent year-on-year, from EUR 2,380.1 million to EUR 2,508.9 million. Adjusted for acquisitions, revenue growth came to 3.1 per cent. Revenue growth was stronger than average in the Western Europe, Asia-Pacific, North and Central America, and South America/Mexico sales regions.

The EBT increased to EUR 168.0 million for the first three quarters and the EBT margin was 6.7 per cent (previous year: 6.9 %). After taxes, consolidated net income was EUR 114.6 million for the period from January to September (previous year: EUR 114.3 million). That corresponds to earnings per share of EUR 3.68 (previous year: EUR 3.65).

The ratio of average working capital for the past four quarters to sales revenue was up slightly in the first nine months of 2017, from 26.3 per cent in the previous year to 26.5 per cent. The return on capital employed (ROCE) decreased to 14.6 per cent (previous year: 15.5 %).

From July to September 2017, revenue was down 10.5 per cent year-on-year to EUR 733.7 million. The relatively low revenue figure is also reflected in third-quarter earnings. In the period from July to September 2017, earnings before taxes (EBT) were down 16.5 per cent year-on-year, from EUR 56.3 million to EUR 47.0 million. Order intake was very strong in the third quarter. The contract value of new orders rose 7.9 per cent year-on-year to EUR 917.5 million.

The company expects a strong fourth quarter and confirms its targets for 2017, despite a slightly weaker third quarter. They expect four per cent revenue growth and an EBT margin stable at seven per cent. For its third financial performance target, working capital to revenue, the company is forecasting 27 per cent for the current financial year. Acquisitions are not included in these forecasts.