New orders up by around 20 percent – slight growth in consolidated earnings
“With its first-quarter results, Schuler has got off to a successful start in the new fiscal year 2014,” explained CEO Stefan Klebert on presentation of the company’s interim report in Göppingen. From January to March 2014, orders were up 19.8 percent year on year to € 319.8 million. The press manufacturer made strong gains in Asia, and especially China, as well as in South America and the Gulf region. In Europe, Schuler received its largest-ever service order. At € 258.0 million, sales were 16.0 percent below the corresponding prior-year figure. As expected, sales suffered from falling orders in the previous year.
Due to this decline in revenue, earnings before interest, taxes and amortization (Ebita) of € 17.5 million fell short of the prior-year figure of € 26.4 million. The Group profit for the period, however, rose from € 10.7 to € 11.3 million year thanks to lower interest expenses and taxes.
At the end of the quarter, Schuler’s net financial status improved to € 307.8 million. Equity rose by 4.2 percent to € 286.3 million.
“Over the past few years, Schuler has worked hard to establish a strong market position and solid financial basis. We must now continue along this successful path,” stated Klebert with reference to the company’s key financial figures.
The company has also confirmed its guidance for the fiscal year 2014. Schuler continues to expect total sales of around € 1.1 billion in 2014 with an Ebita margin of 6 to 7 percent. “The high order backlog of around € 1.1 billion provides a solid basis for our 2014 sales and earnings forecast,” concluded Klebert. At the end of March 2014, the Group employed 5,494 people.
Photo Source: Schuler