Intermediate report of the management transmitted by euro adhoc. The issuer
is responsible for the content of this announcement.
1st quarter revenues up 8 % at 115.6 Mio EUR (Q1/2011: 107.3 Mio EUR)
EBIT still down year-on-year, at 3.7 Mio EUR (Q1/2011: 6.9 Mio EUR)
New order-intake record of 154.7 Mio EUR (Q1/2011: 125.6 Mio EUR)
Group key data 1-3/2012 1-3/2011 Change in %
Revenue Mio EUR 115.6 107.3 +8%
EBIT Mio EUR 3.7 6.9 (46%)
EBT Mio EUR 4.6 6.8 (32%)
Net profit for the period Mio EUR 3.8 5.3 (28%)
Cash flow from operation
activities Mio EUR (32.3) (28.9)
Total assets Mio EUR 392.2 334.7 +17%
Equity in % of total assets 39.0% 40.9%
Investments Mio EUR 2.0 1.6 +25%
Earnings per share EUR 0.4 0.5 (20%)
Employees as at 31.3. 2,195 2,076 +6%
Order intake Mio EUR 154.7 125.6 +23%
Order backlog as at 31.3. Mio EUR 734.2 431.5 +70%
Public-sector budgets are being affected by the debt crisis. This is placing
further strain on the already tightly-stretched resources of the public sector,
especially in developed markets, and causing a marked reluctance to place new
In other markets, by contrast, demand has been continuing at a high level. The
differences in the sales opportunities available to the fire equipment sector
around the world have thus become wider still. This is also reflected in today’s
large arena for project business. High oil revenues and the need for catch-up
investments in the field of safety infrastructure are the two main drivers of
capital spending in these markets. What is more, the heightened awareness of
security needs in the wake of global catastrophes and terrorist attacks is
another factor influencing public-sector procurement behavior.
Revenue and results trends
The Rosenbauer Group posted consolidated revenues of 115.6 Mio EUR in the 1st
quarter of 2012, 8% up year-on-year (1-3/2011: 107.3 Mio EUR). Both the parent
company in Leonding, Austria and the Group’s companies in the USA and Germany
were successful in raising their revenues.
In the fire equipment sector, the 1st quarter is generally typified
by lower revenues and margins. This is due to the fact that the
majority of shipments tend to be in the second half of the year.
However, this seasonal dependency during the fiscal year is often
smoothed by centrally directed procurement that does not fall under
public-sector revenue and expenditure budgets.
Earnings At 3.7 Mio EUR, 1st quarter 2012 EBIT was still some way
behind that for the same period of last year (1-3/2011: 6.9 Mio EUR).
As well as to the lower gross margins realized on several of the
orders dispatched during the first quarter, this was due mainly to
the additional in-plant expenditure necessitated in the first quarter
for adapting the production operations to the high level of capacity
utilization and to preparations for fulfilling the large-scale major
A number of measures – such as the additional manufacturing capacity
to be put into service towards the middle of the year – have been
initiated to ensure our ability to deal with the planned production
volumes; the full impact of these measures will start to be felt
during the second half of the year.
Moreover, the result in the same period of last year was favorably
affected by gains on exchange. This explains why the 1st-quarter EBIT
margin of 3.2% was still below the average level of recent years.
The ‚Finance cost‘ improved by around one million euros year-on-year,
largely due to negative value adjustments of futures contracts from
the previous year and to the Group’s higher earnings from joint
ventures. EBT for the 1st quarter of 2012 came to 4.6 Mio EUR
(1-3/2011: 6.8 Mio EUR).
Orders The Group’s order intake rose yet again, reaching a record
high of 154.7 Mio EUR in the 1st quarter, a year-on-year increase of
23% (1-3/2011: 125.6 Mio EUR). At 734.2 Mio EUR (March 31, 2011:
431.5 Mio EUR), the reserve of unfilled orders at March 31, 2012 is
also at an all-time high, thanks to the excellent order trend of
recent months. This means that the Rosenbauer Group can be sure of
good capacity utilization at its manufacturing facilities, and also
gives it a fairly clear view of the likely course of revenues for the
rest of this year.
Outlook The large reserve of unfilled orders, and the favorable
situation regarding project business, are keeping production capacity
fully utilized during the current year 2012. After a year of
consolidation, the growth trend of recent years is set to be resumed,
with expected revenues of well above 600 Mio EUR and a targeted EBIT
margin of over 7%.
end of announcement euro adhoc
issuer: Rosenbauer International AG
phone: +43(0)732 6794 568
FAX: +43(0)732 6794 89
sector: Machine Manufacturing
indexes: WBI, ATX Prime
stockmarkets: free trade: Berlin, Stuttgart, official market: Wien