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Vanderlande Industries sets new records
Strong increases in net sales and net income
The company expects a further increase in net sales in the coming financial year 2008/2009.
The number of employees, which rose by 209 to 1 742 (+14%) in the past year, will also continue to grow in the year ahead.
Peter Gerretse, President and CEO of Vanderlande Industries, commenting on these results:
"Once again we can look back at our best year ever with net sales 23% higher and an even stronger growth in net result at 28%. We have been successful in all business areas and were able to secure a large number of new orders.
In baggage handling, for which the Company is one of the industry leaderswe again succeeded in obtaining orders from customers located as far afield as Russia, the Far East, the USA and Saudi Arabia.
The new Terminal 5 at Heathrow airport was handed over to BAA to their full satisfaction. Contrary to some media reports, the system performed well right from the start, while the end-to-end baggage handling process rapidly improved after initial start-up problems during the first few days.
The market for distribution systems in Europe remained stable at the high level of last year. This was reflected in an increased order intake. Companies such as Kaufland, Amazon, van den Ban and Tesco.com contributed to the order intake in this segment.
With orders received from FedEx, UPS, DHL, TNT, Bartolini and many others we clearly improved our position in the Express Parcel segment, although this year investments in this industry were at a lower level. We are also very proud of the successful implementation of the new DHL Leipzig hub, a contract we completed in record time.
And last but not least, service sales once again reached a record level, and these activities have become a major contributor to our turnover.
These developments underline the excellent position of Vanderlande Industries worldwide. We expect growth to continue in the coming financial year 2008/2009."
Continuously looking for new people
Over the last five years the number of employees has increased by 60% to the present 1 742. The expectations for the future will lead to a further increase in this number. For example the company currently has some 80 vacancies, particularly for technicians and IT specialists at college and university graduate level.
The good standing of Vanderlande Industries as employer has been confirmed by the nominations to "Top Employer 2008" and to "Golden Winner" in the recent employee satisfaction survey by the Dutch national paper "De Volkskrant".
There is much uncertainty as to how the worldwide economy will develop in financial year 2009. This makes it difficult to predict the market development. In financial year 2009 the Company is targeting a moderate growth in order intake.
Based on the current order book, net sales are expected to increase significantly. Net income is expected to remain at a comparable level due to a different mix of the projects in execution.
Based on these expectations we will continue to invest in new people, in improving the capabilities of the existing workforce and in innovation. We expect to release several new products to the market in financial year 2009.
Vanderlande Industries' overall position further improved
Total order intake in the financial year was EUR 573 million (last year EUR 723 million). Excluding last year's major contract from United Parcel Service (UPS) of EUR 360 million, this year's order intake signified a 52% increase from EUR 363 million to EUR 551 million.
Net sales increased by 28% to EUR 611 million (EUR 496 million in the preceding year). An important contribution to this increase was made by the subsidiaries in the UK and USA. Sales in Services for our systems were also a major contributor and reached a record level.
Operating profit (EBIT) increased to EUR 54.1 million from EUR 46.3 million last financial year, due mainly to the growth in net sales.
Net income has risen substantially over the last three years, from EUR 14.1 million two years ago through EUR 26.6 million last year to EUR 34.1 million in financial year 2007/2008.
Excluding the UPS and BAA contracts, the order book increased to EUR 608 million from EUR 499 million last year, an increase of 22%. In total, the order book at EUR 790 million remained at a very satisfactory level (last year EUR 828 million).
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