30.04.2015
Deufol SE DE000A1R1EE6
DGAP-News: Deufol SE: Annual results 2014
DGAP-News: Deufol SE / Key word(s): Final Results
Deufol SE: Annual results 2014
30.04.2015 / 14:33
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Deufol SE: Annual results 2014
- Sales EUR 289.9 million (previous year EUR 318.7 million)
- EBITDA EUR 13.5 million (previous year EUR 14.8 million)
- EBIT(A) EUR 6.2 million (previous year EUR 6.0 million)
- Operating cash flow EUR 22.2 million (previous year EUR 17.2 million)
- Net financial liabilities EUR 37.0 million (previous year EUR 50.3
million)
Hofheim, April 30, 2015
Sales trend
In 2014, the Deufol Group realized a negative sales trend on balance, in
line with expectations. Due to a very positive business trend in the USA,
sales increased in the USA / Rest of the World to EUR 68.4 million
(previous year: EUR 62.8 million). In Germany (incl. the holding) sales
declined slightly more strongly than expected and amounted to EUR 156.3
million (previous year: EUR 170.5 million). However, it should be noted
that sales of approx. EUR 5.4 million are no longer included in this figure
due to changes to the consolidated group. Moreover, northern and western
Germany especially suffered due to a moderate level of demand from some
customers. In the Rest of Europe, after scaling back our operation in
Tienen the result was lower than in the previous year (EUR 74.2 million,
compared to EUR 85.4 million), as expected.
Operating result (EBIT) slightly higher
In Germany, the northwestern region in particular was affected by several
customers' restraint. Due to the challenging economic environment our
operation in Italy was affected by the insolvency of a major customer. On
the other hand, in the USA we are highly satisfied with our earnings trend.
Here we have achieved a significant improvement in our earnings following a
successful restructuring program. The same is true for our activities in
China. Overall, the operating result (EBIT) amounted to EUR 6.2 million in
the reporting period (previous year: EUR 6.0 million).
Financial indebtedness reduced - strong operating cash flow
In the past fiscal year the financial liabilities of the Deufol Group
clearly decreased, from EUR 62.8 million to EUR 58.8 million. Net financial
liabilities - defined as the total financial liabilities less financial
receivables and cash - decreased even more strongly, by EUR 13.3 million
from EUR 50.3 million on December 31, 2013 to EUR 37.0 million at the end
of the period under review. This was due to the increase in cash held (+
EUR 11.0 million) and lower financial receivables (- EUR 1.6 million).
The operating cash flow amounted to EUR 22.2 million in the period under
review and was thus significantly higher than in the previous year (EUR
17.2 million).
Key data of the year 2014
figures in EUR million 2014 2013 change (%) Sales 298.9 318.7 (6.2) EBITDA 13.5 14.8 (8.9) EBIT(A) 6.2 6.0 3.0 EBT 3.5 2.7 28.4 Income for the period 0.47 0.48 (2.1) of which attributable to noncontrolling interests 0.24 0.18 30.4 of which attributable to equity holders of parent 0.23 0.29 (22.4) Earnings per share (EUR) 0.005 0.007 (22.4) Operating cash flow 22.2 17.2 29.4 Investments. in tangible assets 5.7 9.0 (36.6) Net financial liabilities 37.0 50.3 (26.6) Equity ratio (%) 44.6 44.9 (0.6) Employees (average) 2,523 2,704 (6.7)Outlook For fiscal year 2015, the Deufol Group plans sales of between EUR 295 million and EUR 315 million. Its operating result (EBITDA) should amount to between EUR 14 and 16 million. Sales should increase in Germany and in the USA / Rest of the World but fall slightly short of the level realized in the previous year in the Rest of Europe. With regard to our results forecast, we expect our core business in Germany to increase significantly. This is attributable to the productivity-boosting measures implemented last year. For the Rest of Europe we envisage a slight increase in earnings. In the USA / Rest of the World segment, we also expect improved results. The Annual Financial Report is available on the internet at http://www.deufol.com. Contact: Deufol SE Claudia Ludwig Johannes-Gutenberg-Strasse 3-5 65719 Hofheim (Wallau) Tel.: +49 (6122) 50 1228 E-mail: [email protected] --------------------------------------------------------------------- 30.04.2015 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 351349 30.04.2015
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