EANS-Adhoc: ATB Austria Antriebstechnik AG releases annual results 2011

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ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide
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announcement.
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30.04.2012

Ad-hoc Information

ATB Austria Antriebstechnik AG releases complete financial year 2011
results

– Solid business development – sales increase by 10 %

– Significant improvements of all key financial figures

– Increased demand for energy-efficient motors

– Positive outlook for 2012

Vienna, April 30th 2012; The economic development of
ATB Austria Antriebstechnik AG (ISIN AT0000617832) has been
affected by uncertainties resulting from the opening of insolvency
proceedings by A-TEC Industries AG in the first half of 2011.
Despite this negative impact, the ATB Group experienced a sales
increase of almost 10% in financial year 2011 and the Group
also managed to significantly improve its key financial figures.

The positive development is attributable to the consistent and
systematic active market development as well as to the change in
ownership structure completed in the 4th quarter of 2011. The
industrial and financial group Wolong Holding Group Co. Ltd
currently holds 98.93% of the share capital of the ATB Group. The
Wolong Group is based in Shangyu, China, and ranks among the leading
electric motor manufacturers in China.

1 Aufgrund des Verkaufs der ATB Technologies GmbH, Lustenau,
wurden die Vorjahreszahlen angepasst. Significant improvements in
sales revenues and net income

In comparison to last year, the ATB Group sales revenues in 2011
increased by 9.7% to EUR 337.4 million (2010: EUR 307.5 Mio.) An
analysis of the individual Business Units shows that the Industrial
Motors division managed to increase its revenues by 11.7 % to
EUR 171.6 Mio. (2010: EUR 153.5 million.) Revenues in the Project
Motors Division rose by 7.7 % to EUR 165.9 Mio. (2010: EUR 154
Mio.)

The ATB Group also considerably improved its EBITDA by 84.9 % to
EUR 24.6 Mio. (2010: EUR 13.3 Mio.) EBIT also increased
significantly. Following an operating loss in financial year 2010
the ATB Group experienced an operating profit in 2011 amounting
to EUR 45.2 Mio. (2010: EUR – 88.2 Mio.)

The 2010 financial year was negatively impacted by
impairments seen in intangible assets as well as in property
plant and equipment amounting to EUR 88.5 million. Due to a
concurrent impairment reported in property plant and equipment
equaling EUR 2.5 million and a fair value remeasurement
resulting from the Wolong Group acquisition, the 2010 impairments
were partially reversed in financial year 2011 amounting to EUR 29.8
million.

Adjusted for one-off effects, the EBIT margin increased to 5.9 %
(2010: 1.1 %.) The reported EBIT margin equals 13.4 % (2010: – 28.7
%.)

The primary cause for the impairments in financial year 2010 was
the strong deterioration in the cooperation with banks, credit
insurers, suppliers and clients of ATB Group as a result of
the insolvency proceedings of A-TEC Industries AG. The sudden
loss of trust in the ATB Group significantly reduced possibilities
for financing, thus financials and order intake deteriorated.

Order intake and order backlog above previous year’s volumes

Due to the increased order intake in the Industrial Motors
Division in the first half year of 2011 and the disproportionally
high growth in the Project Motors Division in the second half
year, new orders in the ATB Group in financial year 2011
increased to EUR 352.5 million (previous year:
EUR 321.2 million.) The order backlog amounted to EUR 131.6 million,
up by 1.5% from the previous year’s level (EUR 129.6 million.)

Solid capital structure

The balance sheet total rose by 30% to
EUR 313.3 million (2010: EUR 241.1 million.) Due to a new short
term loan, the cash position in the balance sheet as well as
the current financial liabilities position, increased by EUR 40
million. Property, plant and equipment as well as intangible
assets changed as a result of impairments and also reversed
impairments by EUR 27.4 million.

Equity, including minority interest, increased by EUR
42.7 million to EUR 81.9 million (2010: EUR 39.2 million.) The
equity ratio improved due to positive net income and
equity-enhancing measures by the former owner amounted to EUR 11.3
million to 26.1 % (2010: 16.3%.)

Gearing (net financial debt to equity) also improved markedly
to 60.6 % (previous year: 147.0%.)

Outlook 2012

With these positive results and the Wolong Group as strategic
partner, the ATB Group emerges stronger from the challenging
financial year of 2011 and will continue to seize major market
opportunities in its core markets as well as its proximate markets.
The Group will benefit from latest developments in regard to
energy-efficient products. In combination with the stable
development of core markets, the management of the ATB Group
expects a rise in revenues that exceeds 10%. The use of
synergies resulting from the new shareholding structure in
combination with the continuing use of tight cost management should
make for profitable operative performance.

In the Industrial Motors division, increasing demand for
energy-efficient motors shaped by higher energy prices as well as
regulatory and environmental protection efforts at the European
level will render this trend sustainable. The strong operative
performance in the highly competitive Industrial Motors segment
creates preconditions for further optimization.

Large customer-specific motors in the Project Motors divisions are
consistently positioned in attractive niches. The strategic target
is to focus on core competences as well as global market
potential and reap the benefits arising from strong-margin
business in the Project Motors Division.

Contact:

Christina Klein
Investor Relations
ATB Austria Antriebstechnik Aktiengesellschaft
Donau-City-Straße 6, Top 15A
A-1220 Wien
Phone: +43 1 90250-240
Cell:+43 676 83 75 7240
Email: klein@atb-motors.com
www.atb-motors.com

Further inquiry note:
Christina Klein
Investor Relations
ATB Austria Antriebstechnik Aktiengesellschaft
Donau-City-Straße 6, Top 15A
A-1220 Wien
Phone: +43 1 90250-240
Cell:+43 676 83 75 7240
Email: klein@atb-motors.com
www.atb-motors.com

end of announcement euro adhoc
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issuer: ATB Austria Antriebstechnik AG
Wächtergasse 1
A-1010 Wien
WWW: www.atb-motors.com
sector: Technology
ISIN: AT0000617832
indexes: Standard Market Auction
stockmarkets: official market: Wien
language: English

Quelle: http://www.presseportal.de/pm/66539/2244411/eans-adhoc-atb-austria-antriebstechnik-ag-releases-annual-results-2011/api