Deufol AG Reports Earnings Results for the Full Year of Fiscal 2011; Provides Earnings Guidance for 2012
April 20, 2012 at 01:41 pm
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Deufol AG reported earnings results for the full year of fiscal 2011. Sales were EUR 315.2 million against EUR 303.0 million last year. EBITDA was EUR 19.5 million against EUR 20.6 million last year. EBIT was EUR 10.7 million against EUR 11.9 million last year. EBT was EUR 7.4 million against EUR 7.5 million last year. Income from continuing operations was EUR 3.9 million against EUR 4.5 million last year. Income attributable to equity holders of parent was EUR 0.1 million against EUR 2.9 million last year. EPS was EUR 0.002 against EUR 0.067 last year. Operating cash flow was EUR 4.6 million against EUR 19.9 million last year. This decline is predominantly due to the cut-off date-related EUR 10.9 million increase in trade receivables. In the previous year, trade receivables decreased by EUR 6.4 million while increasing cash flow. Investments in tangible assets were EUR 7.3 million against EUR 8.1 million last year. If the sales trend is adjusted for the acquisitions, this shows organic growth of 2.8%. If one also takes into consideration the US dollar's depreciation against the euro of around 5% on average, this represents adjusted growth of 3.6%. On the results side, in Germany Export & Industrial Packaging suffered due to rising wood prices and thus recorded lower results. In the USA, the volumes provided by battery packaging were lower, so that the expected results were not achieved. In the Rest of Europe, the Italian subsidiary and Belgian companies exceeded expectations.
In view of a weaker economic environment for the fiscal year 2012, the company plans sales in a corridor between EUR 315 million and EUR 330 million. The operating result (EBITA) should amount to between EUR 12 million and EUR 14 million. With regard to the sales trend, the company predicts a clear increase in the USA, driven by the growth of Data Packaging. In Germany and the Rest of Europe, the company predicts stable or slightly falling sales. In terms of results forecast, the company predicts a significant improvement in business in the USA. In line with sales planning, this will mainly be provided by Data Packaging division. In Germany, the company expects all of services to report significantly improved results. For the Rest of Europe, the company envisages stable or slightly falling operating results.
Deufol SE is a Germany-based holding company engaged in the fields of packaging, logistics and related services. It operates across various sectors with focus on mechanical engineering, consumer goods, automotive, chemicals and air cargo sectors. The Company divides its business activities into three service-oriented segments. The core segment Export & Industrial Packaging comprises specific logistics activities for capital and investment goods manufactures, including construction, production and export of packaging, logistics and long-term packaging, among others. Consumer & Data Packaging offers logistics services, such as packaging design and production, automated and manual packaging, among others. Supplementary Services segment includes planning, management, storing, spare-parts logistics, just-in-time logistics and value-added services. Deufol SE operates through its subsidiaries in Germany, Italy, Belgium, Austria, the Czech Republic and the United States.
DEUFOL SE 
