Binder+Co Aktiengesellschaft

EANS-Information of Significance: In H1/2010, Binder+CoÂ’s key indicators lagged behind those of the preceding year, but showed a marked upturn in order intake.

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Gleisdorf, August 17, 2010. In the first half-year 2010, the Gleisdorf-based processing, environmental and packaging technology specialist once again achieved a clearly positive result, although sales revenues and EBIT remained below the figures for the preceding year. However, especially during the second quarter, positive signals emanated from an upswing in order intake.

“As a company that is traditionally affected by economic trends at a relatively late point in the cycle, in view of the crisis, our sales revenues and EBIT in the first half of 2010 were below the level of the previous year. However, the marked improvement in the orders situation in the second quarter has put us in an optimistic mood.” Karl Grabner, Member of the Binder+Co Management Board

In the first half-year 2010, Binder+Co amassed sales revenues totalling EUR 25.72 million, which represented a decline of 15% over the figure for the preceding year and corresponded roughly with the level achieved in the 2007 financial year (H1/2007: EUR 24.11 million). Consequently, as compared to the 2009 value, EBIT fell by EUR 0.38 million to stand at EUR 2.24 million. Conversely, order intake showed a markedly positive tendency and at the end of the first half-year 2010 was 23% up on the figure for the preceding year at EUR 29.63 million. The sales of single machines continued to develop in a highly satisfactory manner, however with the exception of individual projects in the Environmental Technology Segment, large-volume system and plant business in the first six months of 2010 again failed to live up to expectations.

Clearly positive results in all product segments In the first half of 2010, the Processing Technology Segment, which specialises in drying, screening and sorting machines for the construction materials and minerals industries, achieved sales revenues of EUR 13.18 million (H1/2009: EUR 15.80 million) and thus provided the largest share of total sales revenues (51%). In spite of this dip in sales revenues, the SegmentÂ’s EBIT contribution of EUR 1.11 million remained at the level of the preceding year. Moreover, the order situation stabilised with a sharp rise in intake to EUR 9.65 million (H1/2009: EUR 6.87 million). The Segment was again characterised by solid single machine business, but system business continued to be comparatively weak.

Sales revenues in the Environmental Technology Segment, which focuses on sorting machines for glass and plastics recycling, were also lower than in the preceding year at EUR 8.30 million (H1/2009: EUR 10.59 million). In addition, although EBIT amounted to EUR 0.89 million and was therefore clearly positive, it failed to emulate the value of the preceding year (H1/2009: EUR 1.47 million). New orders consisted of both single machines and medium-sized plant contracts and at EUR 13.93 million order intake was above the EUR 11.59 million of 2009. The newly captured orders continued to demonstrate stable result quality.

During the first half of 2010, the Packaging Technology Segment, which manufactures high-performance, open mouth bagging machinery, was able to clear single machine orders to the value of EUR 4.24 million (H1/2009: EUR 3.72 million). In tandem with solid spare parts business, it was possible to raise EBIT markedly to EUR 0.24 million (H1/2009: EUR 0.04 million). Furthermore, at EUR 6.05 million order intake also improved and was EUR 0.51 million up on the EUR 5.54 million of last year.

Demand picks up markedly in the second quarter Order backlog at the end of June 2010 was largely characterised by the positive trend in the single machine area. At EUR 21.85 million, it was well above the solid level of 2007 (June 30, 2007: EUR 16.64 million) and thus corresponded with the long-term average. The comparable value of EUR 25.16 million as per June 30, 2009 still contained large plant projects, which were largely concluded during the 2009 financial year.

Despite the encouraging intake trend, the management remains cautious with regard to a sustained improvement in the order situation. Within this context, a revival of system and plant business in the Processing Technology Segment would constitute a decisively positive signal of growth.

The Binder+Co share price remains stable During the first half of 2010, the price of the Binder+Co share, which is traded on the mid market of the Vienna Stock Exchange, remained extremely stable. Having started 2010 at a level of EUR 11.10, by June 30, the share price had risen to EUR 11.50.

The Binder+Co Group Binder+Co is a specialist in the field of processing, environmental and packaging technology and the world market leader in the screening and glass recycling segments. The Binder+Co share was introduced on the Vienna Stock Exchange at the end of 2006 and is now traded in the Third Market in the mid market segment. In 2009, Binder+Co was awarded the Austrian National Innovation Prize for its development of the worldÂ’s first industrially mature system for the sorting of heat-resistant, special glass from cullet fragments.

end of announcement                               euro adhoc

Further inquiry note:

Karl Grabner, Member of the Management Board
Tel.: +43/3112/800-363

Branche: Machine Manufacturing
Index: mid market
Börsen: Wien / Third Market

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