Press release BoxID: 629554 (Scholz Holding GmbH)
  • Scholz Holding GmbH
  • Office Number: 610, 68 King William Street
  • EC4N 7DZ London
  • Contact person
  • Beate Kummer
  • +49 (2224) 9011-480

Scholz AG issues consolidated half-year report 2013

(PresseBox) (Essingen, ) Scholz AG has widely included the balance sheet burdens of the restructuring and realignment in the first half year 2013. In addition, the operational development of the international recycling group has been affected by a worldwide difficult market environment in the steel and metal industry.

- The group's revenues amounted to 2bn Euro in the first six months and were about 21% below the value for the same period last year. The decline is predominantly based on the significant decreased price and tonnage levels.

- The operating earnings before interest, tax, depreciation and amortization (EBITDA) reached 70.2m Euro after 110.4m Euro for the same period last year (-36%). The negative tonnage and price development and the resulting margin pressure affected earnings negatively. The results from ordinary business activities amounted to -3.1m Euro after 23.2m Euro for the same period last year.

- The group reports an extraordinary result of -75.5m Euro, which mainly includes depreciations in the context of the termination of business relations with the Australian recycling corporation CMA. Therewith the expected balance sheet burdens of CMA have been widely included in the first half year report.

- Consequently, the earnings after tax (including extraordinary results) of the first six months totaled to -82.5m Euro (1st half year 2012: +14.4m EUR).

- As of 30th of June 2013 the group reported an equity of 217.9m Euro (31st of December 2012: 300.4m Euro), which corresponds to an equity ratio of 11.9 % (31st of December 2012: 15.8 %).

From today the consolidated half-year report 2013 is available under the section IR / Bond on our homepage