KHD Humboldt Wedag International AG releases Q3 2011 figures
- Much stronger order intake in Q3 of EUR 127.8 million
- YTD order intake of EUR 215.2 million
- Order backlog at EUR 353.0 million
- EBIT of EUR 15.7 million after nine months
- Consolidated net income of EUR 13.8 million as of September 30, 2011
- Revised revenue guidance for 2011
KHD Humboldt Wedag International AG ("KHD"), one of the world's leading providers of equipment and services for the cement industry released its third quarter 2011 interim results today. New orders came in strongly in the third quarter and the Group was able to book an order intake of EUR 127.8 million. This is well above the half year figure of EUR 87.4 million. With the new orders KHD now has a solid order backlog of EUR 353.0 million (H1 2011: EUR 284.4 million).
On the revenue side uncertainty in the markets, especially in India, has led to customer postponements in project execution forcing the Group to revise its revenue guidance for the current fiscal year with revenues reaching EUR 165.5 million for the first nine months of 2011 (previous year: EUR 188.6 million). KHD was still able to achieve an EBIT of EUR 15.7 million (Q3 2010: EUR 17.8 million). This corresponds to an EBIT margin of 9.5%. KHD was also able to improve net income from EUR 9.5 million (Q3 2010) to EUR 13.8 million. The earnings figures also include other operating income of EUR 4.1 million (Q3 2010: EUR 2.0 million), which includes a positive one-off effect of EUR 2.4 million resulting from a revaluation of subsidiary shares from OOO KHD Humboldt Engineering, Moscow, Russia. In October 2011 the Group successfully acquired the remaining 50% of its Moscow entity.
KHD management still expects a positive order trend in the fourth quarter. This will however strongly depend on how the economic environment develops. Due to the above mentioned customer postponements in project execution KHD expects that the previously projected revenues (August 2011) of EUR 270 million for financial year 2011 will not be attained. Nevertheless, the Group retains its EBIT guidance of EUR 16 million to EUR 19 million for the current financial year.
KHD Humboldt Wedag International AG's full interim report for the third quarter 2011 will be available today under www.khd.com/investor relations.
KHD Humboldt Wedag International AG
KHD is a global leader for cement plant technology, equipment and services with over 150 years of experience in the cement industry. Process engineering and project management are among the core competencies of the technology-focused group. KHD offers a wide spectrum of products and aftermarket services for the cement industry and is a leader in energy-efficient and environmentally friendly products for the cement grinding and pyro processing sections of the plants. The holding company KHD Humboldt Wedag International AG is based in Cologne, Germany. The group has over 750 employees worldwide with customer service centers in growing markets like India, Russia and the Asia Pacific region. Other major customer service centers include the USA covering both North and South America and Cologne is home to the EMEA (Europe, Middle East and Africa) customer service center. KHD Humboldt Wedag International AG (ISIN: DE0006578008, WKN: 657800) is listed on the Frankfurt stock exchange (General Standard).
More information: www.khd.com