euro adhoc: Eybl International AG / quarterly or semiannual financial statement / Eybl International publishes its results for the first half-year 2006/07:
Geschrieben am 24-10-2006 |
-------------------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------------------
24.10.2006
- Increased sales to EUR 173.3 million - Satisfactory order situation due to significant new intakes - Possible fall in sales during the second half-year
Krems, October 24, 2006. During the first six months of the 2006/07 financial year, Eybl International AG, which is listed on the Vienna Stock Exchange and manufactures components for automotive interiors, was able to maintain its positive sales development with an increase from EUR 169 million in the first half of the preceding year to EUR 173.3 million.
However, this satisfactory situation is overshadowed by the general situation in the European sub-supplier industry, which in recent months has suffered a further intensification of already massive price pressure. EBIT in the first half year was slightly up on the figure for the previous year (EUR 4.2 million) at EUR 4.3 million. The EBIT margin remained at the level of the preceding at 2.5%, while EBITDA was some 10% higher at EUR 11.3 million. The EBITDA margin stood at 6.5% (first half-year 2005/06: 6.0%).
Balance sheet and equity demonstrate stability
As in the first quarter of the current year, the result for the first half-year was subject to the negative effects of the closing date evaluation of a EUR/HUF swap. The ordinary business result amounted to EUR 0.5 million (1st half-year 2005/06: EUR 2.0 million) and the result for the period of EUR 1.1 million was also down on the EUR 2.6 million of the preceding year. At EUR 7.2 million, operating cash flow attained the level of the previous year and following the payment of a dividend of EUR 0.85 per share for the 2005/06 financial year, equity was held steady through a profit for the period of EUR 1.1 million. On the closing date of September 30, 2006, equity stood at EUR 50.9 million and when compared to the figure on the balance sheet closing date, at 20.2% the equity ratio for the first half-year 2006/07 was virtually constant. New orders in the premium class confirm company quality and reliability The companys establishment of a position as a competent and stable process partner to the automotive industry, particularly in Germany and France, is reflected by a series of new orders captured during the first half of 2006/07. In total, these led to order intake amounting to EUR 160 million, which resulted in adjusted order backlog on the closing date of EUR 1,048 million. The decline in order intake mirrored the trend among automotive manufacturers, who are increasingly replacing long-term contracts with three-year agreements. The most important new orders in 2006/07:
- Following a multi-stage process, General Motors has nominated Eybl International as the most competent global textile supplier for the Vectra platform. This is the first time that a single supplier has been selected by General Motors for global production. Serial production will commence in 2008.
- From autumn 2006, the Krems plant (later Hungary and Romania) will start to produce fabric and leather covers for the three-door, coupé and convertible models from the BMW 1 range. Subsequent serial production will also be supplied by Eybl International.
- The Eybl competence centres in Deta/Romania and Nagykanizsa/Hungary are also producing gear and brake lever bellows for BMW.
- Eybl has also captured another major order from Peugeot, involving the future supply of fabric seat covers for the 308 and 207 models from the plant in Deta/Romania.
- Eybl is participating in the face-lifting of the Renault Scenic with seat covers in leather and a fabric/leather combination. Unfortunately, problems with item numbers are having a negative effect on existing orders.
Outlook for the current financial year
The economic researchers from Global Insight anticipate that 14.6 million cars will be produced by Western European manufacturers in the 2006 calendar year, which represents further market stagnation. Moreover, the expected advance purchases in Germany awaited in the run-up to the increase in value added tax in 2007 have not made themselves felt at Eybl International in the shape of order call-ups. The pressure on costs in the operative business area continues to dominate in the European sub-supply industry and in particular, has led to operative losses among suppliers responsible for complete systems.
Eybl International has reacted to this persistently difficult market situation with an earnings optimisation concept and ongoing quality improvements. CEO, Johannes M. Elsner, "The cost pressure applied by the automotive manufacturers is noticeable at all levels of the value-added chain. Although the first half-year progressed satisfactorily for Eybl International, weak call-up and the trend among the OEMs towards in-house production, mean that a decline in sales during the second half-year is possible."
The result of the first half-year 2006/07 at a glance: (in EUR m)
Key indicators 2006/07 2005/06 2004/05 Sales 173.3 169.0 167.8 EBIT 4.3 4.2 5.1 EBIT margin in % 2.5 2.5 3.1 EBITDA margin in % 6.5 6.0 6.3 Profit for the period 1.1 2.6 3.4 Order intake 160 246 401 Order backlog 1,048 1,302 1,342 Employees 4,308 3,995 4,315 Eybl International in brief Eybl International AG, which is listed on the Vienna Stock Exchange, is an internationally recognised manufacturer of interior components for automotive interiors, specialising in the production of automotive textiles, the manufacture of seat covers in cloth or leather and cloth/leather combinations and the lining of special interior parts. The company, which is domiciled in Krems, Austria, employs some 4,000 people at 14 locations in Austria, Hungary, Romania, Germany, France and Slovakia, as well as in Spain and U.K. Today, Eybl International is Austria's largest company in the automotive sub-supplier sector, as well as being Austria's largest textile manufacturer in terms of sales.
end of announcement euro adhoc 24.10.2006 12:05:10 --------------------------------------------------------------------------------
ots Originaltext: Eybl International AG Im Internet recherchierbar: http://www.presseportal.de
Further inquiry note: Eybl International AG Investor Relations Robert Gabriel Tel.: +43 (0) 2732 881-300 Fax: +43 (0) 2732 881-79 mailto:robert.gabriel@eybl-international.com
Branche: Speciality stores ISIN: AT0000908157 WKN: 914117 Index: WBI, ATX Prime Börsen: Wiener Börse AG / official market
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