Binder+Co Aktiengesellschaft

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Annual Reports
Binder+Co again improves all its key indicators in the first half-year 2008

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6-month report


Ad hoc press release

Binder+Co again improves all its key indicators in the first half-year 2008

Gleisdorf, August 19, 2008. The thoroughly positive market climate and the solid order basis secured in the last quarter of 2008, enabled the Styrian-based Binder+Co, which specialises in processing, environmental and packaging technology, to achieve a marked improvement in its sales and results for the first half of 2008.

Sales up by almost a third, EBIT virtually doubled Binder+Co was able to raise its sales for the first half-year 2008 by 30.9% to EUR 31.55 million (H1/2007: EUR 24.11 million). The main factor in this notable growth rate was the clearing of numerous systems projects in the three product segments, processing, environmental and packaging technology.

Last, but not least, the spare parts and services business in all segments made a major contribution to the successful course of business. The significance of the after-sales area is reflected by its share of sales, which in recent years has remained relatively constant at a level of around 20.0%. In this area, Binder+Co profited from the increasing demand for single machines from the product segments.

During the period under review, foreign sales revenues amounted to 84.7% (H1/2007: 78.6%) of total revenues and thus underlined the importance of export business. The EU (excluding Austria) continued to be the main market with a share of 48.5%, followed by eastern Europe (CEE and CIS) with 17.5%. 13.4% of sales revenues emanated from Asia and Australia, 5.3% from Africa and the Americas.

EBIT was virtually double that achieved in the comparable period of 2007 (H1/2007: EUR 1.45 million) and amounted to EUR 2.76 million (+90.3%). The main factors in this disproportionately large increase as opposed to sales were the improved margins obtained for cleared single machine orders and strong spare part and service business.

Order intake more than doubled With total order intake of EUR 52.12 million, which was more than twice the figure for the previous year (H1/2007: EUR 24.73 million), at the end of June 2008, Binder+Co had an order backlog of EUR 40.64 million. This figure is not only clearly above the comparative totals of the past year (December 31, 2007: EUR 20.07 million, June 30, 2007: EUR 16.64 million), but also creates an excellent basis for the second half of 2008.

With a backlog of EUR 40.64 million, an order volume of just over EUR 16.00 million has already been secured for 2009 and 2010.

Outlook Economic development in Europe (western Europe, CEE) has a marked influence on Binder+Co growth and according to the European Commission (as at April 2008) GDP growth of 1.5% can be expected for 2009 as a whole.

Even if the predictions regarding general economic development are somewhat less optimistic than those originally given, the estimates for Binder+Co remain above these forecasts. On the basis of the solid performance of the first half of 2008, the management of Binder+Co AG expects that sales and EBIT for the whole of 2008 will be higher than the 2007 figures.

The Binder+Co share price follows the market trend In line with the general market trend, during the period under review the price of the Binder+Co AG share, which is listed on the Vienna Stock Exchange, showed a downward trend. On the basis of a level of EUR 12.79 at the beginning of 2008, the price fell by around 7.0% in the first six months of the year and on June 30, 2008, stood at EUR 11.90. As compared to the ATX, which in the same period fell by around 12.0%, the Binder+Co share performed relatively well.

Share buy-back In May 2008, Binder+Co commenced the buy-back of shares up to a volume of 10% of share capital, approved by the Annual General Meeting of Shareholders on March 26, 2008. By the end of May, a package of 40,000 shares had been purchased at a price of EUR 11,75. The repurchased shares are intended for use in the planned employee stock option programme.

Binder+Co Binder+Co AG specialises in processing, environmental and packaging technology and is the world market leader in the field of screening technology (for difficult to screen bulk materials) and glass recycling. The company, which has been listed on the Vienna Stock Exchange since December 2006, was admitted to the newly created mid market segment in June 2007 and in July 2007 was authorised to participate in OTC trading. With an average of 214 employees, in 2007 Binder+Co achieved sales of EUR 53.4 million and hence EBIT of EUR 4.9 million. Accordingly, the EBIT margin amounted to a solid 9.2%.

end of announcement                               euro adhoc

Further inquiry note:

Karl Grabner, Member of the Board
Tel.: 03112/800-363

Branche: Machine Manufacturing
Index: mid market
Börsen: Wiener Börse AG / Regulated free trade

Original-Content von: Binder+Co Aktiengesellschaft, übermittelt durch news aktuell

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