MBB Industries AG: Revenue and earnings up significantly year-on-year after first nine months of 2011
- Revenue from continuing operations climbs 6.4% to EUR79.5 million
- Consolidated net profit improves significantly on previous year to EUR2.5 million (37 cents per share)
- Cash and cash equivalents of EUR29.0 million as at end of third quarter of 2011
- Acquisition of eld datentechnik as at 1 October 2011
- Good business performance forecast in fourth quarter Berlin, 18 November 2011 - MBB Industries AG (ISIN DE000A0ETBQ4), a family-owned, medium-sized corporation, generated consolidated revenue of EUR79.5 million and earnings per share of 37 cents in the first three quarters of 2011.
Consolidated revenue rose by 6.4% from EUR74.7 million to EUR79.5 million in the first nine months of 2011. Operating earnings (EBITDA) amounted to EUR6.0 million as at the end of September 2011, corresponding to an EBITDA margin of 7.5% - well above the previous year's level of EUR-5.1 million.
It should be noted that earnings in 2010 were greatly reduced by losses on carrying amounts incurred as a result of the sale of the majority holding in the Romanian Delignit companies. As anticipated, after completing its turnaround, Delignit again contributed to the positive results of MBB Industries in the current 2011 financial year. Consolidated net profit after nine months of 2011 amounted to EUR2.5 million (EUR0.37 per share) after EUR-8.4 million (EUR-1.27 per share) in the same period of the previous year. Equity declined from EUR47.4 million as at 31 December 2010 to EUR45.0 million as at the end of September 2011. This corresponds to an equity ratio of 52.1% after 51.7% as at the end of 2010. Cash and cash equivalents including securities and physical gold holdings amounted to EUR29.0 million as at 30 September 2011, net cash (the above cash and cash equivalents less liabilities to banks) amounted to EUR12.2 million as at the same date.
In the third quarter, MBB Industries generated consolidated revenue of EUR27.6 million with EBITDA of EUR1.5 million and a consolidated net profit of EUR0.2 million (EUR0.02 per share). The weaker earnings compared to the two previous quarters is due to normal seasonal progression, higher M&A expenses and the negative trend in cash and cash equivalents. The dividend of 33 cents per share or EUR2.2 million was distributed in the third quarter of 2011. Furthermore, the business activities of eld datentechnik were acquired effective 1 October 2011.
The Managing Board is forecasting that revenue and earnings will exceed the previous quarters in the fourth quarter of 2011. In its opinion, the available equity and liquidity resources provide a good foundation from which to grow in the current market environment by acquiring new equity investments.
MBB Industries AG is a family-owned, medium-sized corporation that has expanded steadily as a result of organic growth and the acquisition of other companies since it was founded in 1995. Achieving a long-term increase in the value of the individual companies and the Group as a whole forms the heart of its business model. This business model has been highly profitable since the outset - substantial growth and sustainable returns will remain MBB Industries AG's goal in future as well. The five Group companies of CT Formpolster, Delignit, Hanke, DTS IT and OBO currently employ 685 people and together generate annual revenue of more than EUR120 million.
Further information on MBB Industries AG can be found on the Internet at http://www.mbbindustries.com