Binder+Co Aktiengesellschaft

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Binder+Co achieves considerable growth in 2015

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Financial Figures/Balance Sheet


Press Release / Main Company Information
Gleisdorf, 2 March 2016

Binder+Co achieves considerable growth in 2015 

-	At EUR 95.50 million 2015 sales revenues set a new record   
-	EBIT up by 38% at EUR 5.93 million
-	EBIT margin raised from 4.9% to 6.2% 
-	Order backlog of EUR 45.06 million provides a satisfactory basis for 2016

Karl Grabner, from the Binder+Co Management Board: “Following the conclusion of
the unsatisfactory 2014 financial year, we undertook everything possible to
revert to our traditional strengths. These aims have been partially realized, as
evidenced by sales revenues in 2015 of EUR 95.50 million, which constituted a
new record and a roughly 38% improvement in EBIT to EUR 5.93 million. Therefore,
although as yet we have not quite reached our final objectives, we have taken a
significant step forward.”

A mixed market environment 
In general, Binder+Co’s main markets demonstrated hesitant growth during 2015.
The industries served by the group continued to show little inclination to
invest and particularly in the EU demand remained at a low level throughout the
year. This resulted in a further deterioration in margins in the plant
engineering area. By contrast single machine business in the USA developed in a
positive manner, especially in the recycling segment. There was also stronger
demand from the base materials industry and the global potash sector generated a
marked increase in demand worldwide. The demand for packaging technology in the
petrochemicals industry declined sharply, but remained stable in the foods and
feedstuffs industries.     

New sales record, EBIT markedly higher
During the 2015 financial year, the Binder+Co Group had consolidated sales
revenues of EUR 95.50 million (2014: EUR 87.94 million) and thus achieved a new
record. EBIT amounted to EUR 5.93 million (2014: EUR 4.30 million) and was
therefore also considerably higher, although the peak values of previous
financial years were still not reached. This was due to more intensive
competition in the European market and the negative contributions to the results
of three of the subsidiaries purchased or founded in recent years. 

Sales growth in all three segments  
In 2015, the Processing Technology Segment, which includes the screening, wet
processing, drying and comminution areas, was characterized by increased
competition that led to a fall in the attainable margins. Furthermore, the
losses at the fully owned Comec-Binder S.r.l., Bublon GmbH and Binder+Co
Machinery (Tianjin) Ltd. subsidiaries had a negative effect on the segment
result. Segment sales revenues amounted to EUR 47.08 million (2014: EUR 46.58
million) and thus constituted 49.3% of total sales revenues (2014: 53.0%). Owing
to strong single machine and spare part business results, segment EBIT totalled
EUR 2.09 million (2104: EUR 1.01 million). Order intake for the period was down
on the record level of 2014 at EUR 42.72 million.   

The demand for Environmental Technology Segment products, which consist mainly
of sorting machinery for glass cullet, paper and plastics recycling,
strengthened considerably during 2015. This upturn, which was due primarily to
the US market, had a positive effect upon result quality. Sales revenues were
higher at EUR 23.23 million (2014: EUR 18.87 million) and EBIT rose to EUR 1.00
million (2014: EUR 0.30 million). Order intake also improved notably to EUR
25.45 million.       

The Packaging Technology/Miscellaneous Segment raised its sales revenues in 2015
to EUR 25.19 million (2014: EUR 22.49 million) although its EBIT eased slightly
to EUR 2.84 million (2014: EUR 2.99 million). Owing to the fall in the price of
crude oil, the propensity to invest in the petrochemicals industry declined
sharply with the result that at EUR 18.26 million, order intake was lower than
in 2014.  

Asia/Australia becomes the largest sales market for the first time

In 2015 the Binder+Co Group obtained 92.6% of its sales revenues from exports.
With a share of sales revenues of 38.1% Asia and Australia became the largest
sales market for the first time and was followed by Western Europe (excluding
Austria) with 34.0%, while the Americas provided 9.0%, Central and Eastern
Europe (CEE and CIS) 6.7% and Africa 4.8% of sales revenues.

Stable demand trend
Binder+Co was able to obtain new orders with a value of EUR 86.43 million in
2015 and therefore as at 31 December 2015, possessed order backlog of EUR 45.06
million, which represented a satisfactory basis for the 2016 financial year. 

Binder+Co share price development
Starting from a level of EUR 18.85 at the beginning of 2015 a sizeable price
increase led to a high for the year of EUR 21.00 on 9 April. On 21 December the
share fell to its yearly low and ended 2015 at EUR 17.50. All in all, the value
of the Binder+Co share declined by 7.2% in 2015, but nonetheless remained 175.0%
above the value of the initial quotation on 27 December 2006. 

Binder+Co assumes that sales revenue growth in the coming years will
increasingly emanate from Asia and North and South America. At the same time,
the sales revenues from key and target accounts are to be expanded worldwide.
With order backlog of EUR 45.06 million at the beginning of 2016, it should be
possible to maintain the sales growth of last year.  

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 company was listed on the Vienna Stock Exchange at the
end of 2006 and is now part of the Third Market in the mid market segment. The
Binder+Co Group consists of Binder+Co AG, the three fully owned subsidiaries
Comec-Binder S.r.l., Bublon GmbH and Binder+Co Machinery (Tianjin) Ltd., as well
as the Statec Binder GmbH joint venture (50.7%). 

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

end of announcement                               euro adhoc 

issuer:      Binder+Co Aktiengesellschaft
             Grazerstraße  19-25
             A-8200 Gleisdorf
phone:       +43 3112 800-363
FAX:         +43 3112 800-320
sector:      Machine Manufacturing
ISIN:        AT000BINDER3
indexes:     mid market
stockmarkets: Third Market: Wien 
language:   English

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