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Press release BoxID: 106287 (ATB Austria Antriebstechnik AG)
  • ATB Austria Antriebstechnik AG
  • Donau-City-Straße 6, Top 15a
  • 1220 Wien
  • http://www.atb-motors.com/
  • Contact person
  • Claudia Müller-Stralz
  • +43 (1) 71786-107

ATB Austria Antriebstechnik AG announces results for first quarter of 2007

(PresseBox) (Spielberg , ) Following last year's restructuring and consolidation exercises and the integration of new subsidiaries, during the first quarter of the current financial year Vienna listed ATB Austria Antriebstechnik AG succeeded in capitalising on the good economic conditions on its main markets to post big improvements in revenue, order intake and order backlog.

Strong gains in revenue and orders The ATB Group recorded a 69.2% surge in revenue to EUR 103.5 million (m) (Q1 2006: EUR 61.2m), driven by organic growth and consolidation of the Lindeteves-Jacoberg (LJ) Group, in which a majority was acquired in May 2006. The revenue contribution from the Serial Motors business unit 06: was EUR 56.6m (Q1 2006: 31.2m) or 55% of the total. The Project Motors business accounted for EUR 24.6m (Q1 06: 2006: 9.3m) or 24% of revenue, while the Home appliances business generated a further EUR 21.5m (Q1 06: EUR 19.3m) or 20%, and the New Businesses unit EUR 0.8m (Q1 06: 2006: EUR 1.4m) or about 1% of the total.

The ATB Group has been radically restructured this year to adjust to ongoing expansion, and group companies have been reassigned among the various business units. The latter were renamed during the third quarter of 2006 when the former Industrial Motors business became Serial Motors, the Explosion-proof Motors business was renamed Project Motors, and the previous House and Garden and ATB Technologies GmbH units were rechristened Home Appliances and New Businesses, respectively. Due to reorganisation the business units' revenue performance is not fully comparable with the like period of 2006.

The strong market shares that the ATB Group has claimed on international markets were also reflected in sharp increases in order intake and backlog. Order intake was up by 86.3% to EUR 128.1m (Q1 2006: EUR 68.8m), and all the group's subsidiaries performed in accordance with expectations. Order backlog more than doubled to stand at EUR 102.3m on 31 March 2007, guaranteeing excellent capacity utilisation for some time to come.

EBITDA and EBIT more than doubled
As in 2006, the ATB Group's earnings were impacted by - in some cases massive - material price increases. Profitability improved despite these difficult trading conditions.

Earnings before interest, tax, depreciation and amortisation (EBITDA) more than doubled, from EUR 3.2m to EUR 7.2m in the first three months of 2007 (gain of 126.2%), and earnings before interest and tax (EBIT) were also up by over 100%, from EUR 1.3m to EUR 2.9m. Like-for-like EBIT, excluding EUR 1.8m in personnel reduction charges arising from restructuring at ATB Sever, was a still more impressive EUR 4.6m. Earnings before tax (EBT) worsened by EUR 2.7m to turn negative by EUR 1.9m, due to the LJ Group acquisition which weighed on finance cost.

Outlook for 2006 as a whole
"The successful integration of the acquisitions and the majority stake in the LJ Group are the latest milestones in the ATB success story. We will be pressing ahead fast with the ongoing integration of LJ over the next few months. Due to the related drive to break into new markets in the Far East, the UK, Central and Eastern Europe, and Australia, we are confident that we will hit our revenue and earnings targets for financial 2007," said ATB Austria Antriebstechnik CEO Christian Schmidt, who expressed optimism about prospects for continued growth.

The detailed report on the first quarter of 2007 is posted on http://www.atb-motors.com.

Financial highlights for the first quarter of 2007 (according to IFRS, in EUR '000)

EUR '000 1. Q1 2007 1. Q1 2006 % change
Revenue 103.5 61.2 69.2% EBITDA 7.2 3.2 126.2% EBIT 2.9 1.3 118.9% EBIT margin 2.8% 2.1% - EBT -1.9 0.8 -
Order intake 128.1 68.8 86.3% Order backlog
(as at 31 March 2007) 102.3 49.6 106.3%Investment* 1.7 8.8 -81.0% Employees 6,717 3,603 86.4%

* Investment comprises additions to intangible and financial assets, as well as property, plant and equipment

ATB Austria Antriebstechnik AG

Die an der Wiener Börse notierte ATB Austria Antriebstechnik AG mit Zentrale in Spielberg und den Tochtergesellschaften ATB Antriebstechnik in Welzheim/Deutschland, ATB Motorentechnik in Nordenham/Deutschland, ATB Technologies in Lustenau/Österreich, ATB COMPONENTS in Ostrau/Tschechien, ATB SELNI in Nevers/Frankreich, ATB MORLEY in Leeds/Großbritannien, ATB SEVER in Subotica/Serbien, ATB MOTORS in Shanghai/China und Lindeteves-Jacoberg Ltd. in Singapur ist einer der führenden Hersteller elektrischer Antriebssysteme für Industrie- und Geräteanwendungen. Mehr im Internet unter www.atb-motors.com