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Wednesday, 08. August 2012 R. STAHL publishes figures for the first half of 2012

Double-digit increase of order intake and sales – EBT significantly improved – Optimistic view to the future

Waldenburg, 8 August 2012 – After a good start into the year 2012, R. STAHL could again win numerous major projects in the second quarter as well. The expert in explosion protection, based in Waldenburg, increased order intake by 20.9% to € 153.0 million (previous year: € 126.6 million). At the end of June, order backlog achieved € 82.9 million (previous year: € 57.9 million).

After the first six months, sales was higher by 17.3% compared to the previous year and rose up to € 135.8 million (previous year: € 115.8 million). Despite the downturn of the global economy, R. STAHL could record increase in sales in all regions. These increases were particularly substantial in the overseas markets.

EBT significantly improved

On this basis, the group also improved earnings – with an increase of 43.7%, earnings before taxes (EBT) amounted to € 9.6 million (previous year: € 6.7 million). EBT margin related to sales revenues achieved 7.1% (previous year: 5.8%). At € 1.18, earnings per share significantly exceeded last year’s value (€ 0.78). Earnings during the first six months include special effects, which, on balance, led to an increase of € 1.1 million. Taking these effects into account, operating EBT amounts to € 8.5 million and operating EBIT margin is 6.2%. Decisive factor for the improvement in earnings was the optimized production processes in our Waldenburg plant and the improvement in productivity that could thus be achieved. Furthermore, the fact that integration costs and expenses for process optimization cease to exist, has a positive effect.

Solid financing

In the period under review, cash flow of R. STAHL increased to € 11.2 million (previous year: € 9.0 million) due to earnings. Business activities also increased the company’s equity. On 30 June 2012, it amounted to € 92.3 million and completely covers long-term assets (€ 90.8 million). After the Annual General Meeting in May, R. STAHL AG distributed a dividend of € 4.1 million to the shareholders, so the group’s equity temporarily declined to 42.6% (year-end 2011: 44.7%). Available funds of € 14.3 million offer a good liquidity situation. So the company’s financing is still on a solid basis.

Confident future prospects

The success during the first half of 2012 makes R. STAHL confident. Despite the flagging global economy, the major customer industries still develop positively. At the same time, the group observes growing demand from the overseas markets. For this reason, the expert in explosion protection still intends to invest in the most important markets. At the same time, the company wants to be successful in the market with innovative products.

R. STAHL is in an excellent situation and is very well positioned in regard to finance and strategy. Winning numerous major projects confirms success, so sales forecast for the current year will be increased to a value between € 255 million and € 265 million. For EBT, the Executive Board expects an amount between € 14 million and € 16 million.

Key figures of R. STAHL Group (given in € million)

 

 

1-6/2012

 

1-6/2011

Changes
in %

Order intake

153.0

126.6

+20.9

Sales

135.8

115.8

+17.3

EBIT

11.4

8.4

+35.8

Earnings before taxes (EBT)

9.6

6.7

+43.7

Earnings in the period

6.9

4.7

+48.8

EBT margin (in % of sales)

7.1

5.8

-

Earnings per share (in €)

1.18

0.78

+51.3

Equity ratio (in %)

42.6

44.7*

-

Employees (record date, excl. trainees)

1,591

1,529

+4.1

* as at 31 December 2011

You will find the detailed interim report on the internet at http://www.r-stahl.com/investor-relations/financial-reports.html

Information on R. STAHL – www.stahl.de

R. STAHL is one of the world’s leading suppliers of electrical and electronic products and systems for explosion protection. These products and systems prevent explosions in hazardous areas and thus contribute to the safety of man, machine and environment. The spectrum ranges from tasks like switching/distributing, installing, operating/monitoring, lighting and signalling/alarming up to automating. Typical customers are the growth industries like the oil & gas industry, the chemical and pharmaceutical industry and the food industry. The share in the market for marine equipment continuously increases. In 2011, more than 1,500 employees generated sales of € 243 million world-wide.
R. STAHL AG is listed on the stock exchange.

If you have any questions please contact:

R. STAHL AG
Communications / Investor Relations
Kerstin Wolf
Am Bahnhof 30
74638 Waldenburg (Württ. )

Phone: 07942.943-4300
fax: 07942.943-40 4300
e-mail: kerstin.wolf@stahl.de