DGAP-News: KHD Humboldt Wedag International AG / Key word(s): Final
Results
KHD Humboldt Wedag International AG: KHD Humboldt Wedag International
AG closes 2014 financial year with positive EBIT
19.03.2015 / 16:00
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KHD Humboldt Wedag International AG closes 2014 financial year with
positive EBIT
- Order intake brought down by market conditions
- Revenue amounting to EUR 240 million slightly down
- EBIT and EBIT margin positive
- Robust liquidity position and stable equity ratio
Cologne, Germany, March 19, 2015 - KHD Humboldt Wedag International AG
(KHD), one of the world's leading suppliers of equipment and services for
the cement industry, achieved positive EBIT (EUR 1.1 million) in the 2014
financial year, despite slightly lower revenue.
KHD's order intake fell to EUR 101.3 million thanks to continued slow
investment in the cement industry and the corresponding delays in awarding
new orders.
The slight drop in revenue of 3.8% to EUR 240.2 million is connected with
the lower order backlog at the beginning of 2014. The Parts & Services
business developed well and contributed EUR 59.2 million to revenue. The
gross profit margin improved from 11.8% to 13.4%.
Despite costs related to intensified research and development activities,
EBIT was nearly stable at EUR 1.1 million (previous year: EUR 1.2 million).
Group net profit for the year rose to EUR 1.6 million (previous year: EUR
0.7 million), resulting in earnings per share of EUR 0.02 (previous year:
EUR 0.01). This increase is mainly due to interest income from intercompany
loans extended to AVIC during the reporting year totaling EUR 100 million.
The extension of the loans, in particular, contributed to the reduction in
cash and cash equivalents from EUR 228.2 million to EUR 123.6 million,
which is still a comfortable level for the operating business. The equity
ratio rose from 53.2% in the previous year to 57.3% as of December 31,
2014.
As a result of focused market activity in the emerging economies, and
provided that the political situation related to Russia eases, KHD expects
significantly higher order intake for the 2015 financial year. However, as
a result of the low order backlog going into 2015, revenue will be
significantly below the level of the 2014 financial year. As the execution
of projects with low margins continues, EBIT for the current year will
likely come in negative.
The complete Annual Report for KHD Humboldt Wedag International AG for the
2014 financial year is available at www.khd.com under Investor Relations.
About KHD
KHD ranks as one of the world's top equipment suppliers and service
companies for the cement industry and has over 150 years' experience in
cement plant construction. The technology-focused Group's core competencies
include process engineering and project implementation. KHD offers a wide
range of products and services for the cement industry and is a
front-runner in environmentally friendly and energy-efficient products for
grinding and pyro-process technologies. The holding company KHD Humboldt
Wedag International AG headquartered in Cologne, Germany, manages the
internationally operating subsidiaries. The Group employs over 750 staff
members worldwide and is represented by Customer Service Centers in growth
markets such as India, Russia, and the Asia-Pacific region. KHD Humboldt
Wedag International AG (ISIN: DE0006578008, WKN: 657800) is listed on the
Frankfurt Stock Exchange (General Standard). More information is available
at www.khd.com.
Contact
KHD Humboldt Wedag International AG
Michael Nielsen
Investor Relations
Tel.: +49 (0)221 6504 1500
Email: michael.nielsen@khd.com
Website: www.khd.com
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Language: English
Company: KHD Humboldt Wedag International AG
Colonia-Allee 3
51067 Köln
Germany
Phone: +49 (0)221 6504 1500
Fax: +49 (0)221 6504 1409
E-mail: michael.nielsen@khd.com
Internet: www.khd.com
ISIN: DE0006578008
WKN: 657800
Listed: Regulated Market in Frankfurt (General Standard);
Regulated Unofficial Market in Berlin
End of News DGAP News-Service
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335127 19.03.2015
DGAP-News: KHD Humboldt Wedag International AG: KHD Humboldt Wedag International AG closes 2014 financial year with positive EBIT
| Source: EQS Group AG