02/12/2013

Schuler raises sales and earnings

Positive quarterly figures in first quarter of 2012/13 – whole-year guidance confirmed

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Schuler posted its strongest sales growth in America during the first quarter of 2012/13. The company’s headquarters in the USA are located in Canton, Michigan.

In the first quarter of its fiscal year 2012/13, the Schuler Group achieved a slight year-on-year increase in sales of 1.0 percent to € 279.2 million. The press manufacturer reported growth in North and South America, Europe and Germany. In its Asian markets, revenues were down on the previous year. Asia still accounted for 31.1 percent of total sales and was the Group’s second largest market after Germany (33.5 percent).

The ratio of new orders to sales revenues, or book-to-bill ratio, amounted to 1.2 in the reporting period – indicating further growth in sales. As expected, new orders fell short of the prior-year figure. Consolidated new orders amounted to € 334.5 million and were thus down by 14.5 percent. Compared to the end of fiscal year 2011/12, the order backlog grew from € 1,110.6 million to € 1,165.9 million (December 31, 2012). “This high order backlog makes us confident that we can continue our success story,” stated Stefan Klebert, CEO of Schuler AG.

Pre-tax earnings up 16.8 percent

The engineering group’s success is also reflected in its profitability. Operating earnings before interest, taxes, depreciation and amortization (Ebitda) was identical to the prior-year figure at € 25.2 million. The Ebitda margin amounted to 9.0 percent (prior year: 9.1 percent). Due to an improved interest result, earnings before taxes rose by 16.8 percent to € 17.4 million. “Following the very encouraging progress made in fiscal year 2011/12, earnings in the first quarter of 2012/13 remain strong,” concluded Klebert.

Schuler aims to follow up its strong prior-year sales and earnings figures in fiscal year 2012/13. Although there are signs in some areas that growth is slowing, the company has confirmed its guidance. Schuler expects to reach sales of around € 1.2 billion and an Ebitda margin of almost 10 percent in 2012/13.

In the first quarter of 2012/13, the Group’s positive net financial status improved year on year from € 174.4 million to € 236.1 million. This was largely due to payments on account received from customers. In the reporting period, shareholders’ equity increased by 5.1 percent to € 257.1 million. The equity ratio fell from 27.1 percent at the end of fiscal year 2011/12 to 26.3 percent. This was due to a disproportionately strong increase in the total statement of financial positions as a result of payments on account received.

At the end of December 2012, the Schuler Group employed 5,518 people around the world. This corresponds to moderate growth of around 1 percent compared to the figure three months previously.