R. STAHL, leading supplier of products and systems for explosion protection, today published its first preliminary results for fiscal year 2013:
- Order intake up 2.4% to € 304.1 million (previous year: € 297.1 million).
- Year-on-year sales growth of 4.6% to € 304.4 million (€ 290.9 million).
- Earnings before interest and taxes (EBIT) unchanged at € 24.9 million (€ 24.9 million), EBIT margin of 8.2% (8.6%)
- Earnings before taxes (EBT) up 0.9% to € 21.3 million (€ 21.1 million), EBT margin of 7.0% (7.3%).
The results almost reached the forecast last confirmed in August 2013 with regard to sales and met the company's target for pre-tax earnings in full.
The CEO of R. STAHL, Martin Schomaker, stated: "With sales growth of 4.6%, we were just below our own expectations and targets for 2013. The reasons for this slower growth were, above all, weaker demand in the Canadian oil and gas sector as well as lower volumes in the Asia-Pacific region. By contrast, R. STAHL continued to enjoy strong demand from the North Sea region. Adjusted for currency fluctuations, we raised sales by 7.3% - well ahead of our forecasts." At the same time, the opening of new markets for the European standards for explosion protection IECEx, e.g. in the Gulf of Mexico, has laid the foundation for future sales opportunities. Across all sectors, the strongest sales growth was generated in the Americas with +11.1%, followed by Germany with +6.7% and Europe (without Germany) with +5.2%. The Asia-Pacific region, however, suffered a fall in sales of 4.7%.
"In view of the development of sales, we are particularly satisfied to have reached our EBT target," stated CFO Bernd Marx. "This positive earnings trend reflects the impact of our efficiency enhancement programme, which has helped to optimise our order lead-times. A further positive effect was achieved by our targeted pricing policy. However, earnings growth was slowed by negative currency translation effects."
Positive outlook for 2014
As of 31 December 2013, order backlog stood at € 66.0 million, compared to € 70.7 million on the same day last year. For the year as a whole, order intake set a new record of € 304.1 million. Against the backdrop of further improvements in the economic climate, the Executive Board expects an increase in the pace of growth for the current year. Sales are likely to rise by 6% to 7%.
Full results for financial year 2013 will be published on 11 April 2014.
Corporate calendar 2014
|11 April||Publication of annual results 2013|
|Analyst conference in Frankfurt|
|08 May||Publication of Q1 report|
|23 May||Annual General Meeting in Neuenstein|
|07 August||Publication of H1 report|
|06 November||Publication of Q3 report|
About R. STAHL - www.stahl.de
R. STAHL is one of the world's leading suppliers of electrical and electronic products and systems for explosion protection. These products and systems prevent explosions in risk areas, and contribute to the safety of people, machines and the environment. The portfolio ranges from products used in switching/ distributing, installing, operating/monitoring, lighting and signalling/alarming, up to automation. Typical customers operate in growth industries, such as the oil & gas industry, the chemical and pharmaceutical industries and the food industry. In 2013, global revenues of € 304.4 million were generated with over 1,850 employees.
The shares of R. STAHL AG are traded on the Regulated Market/Prime Standard of Deutsche Boerse (ISIN DE000A1PHBB5).
For more information:
R. STAHL AG
Am Bahnhof 30, 74638 Waldenburg (Württ. )
Bernd Marx (CFO)
Phone: +49 7942 943-1271
Nathalie Dirian (Investor Relations)
Phone: +49 7942 943-1395
Frank Schwarz (Investor Relations)
Phone: +49 611 1745-39 811
e-mail: [email protected]