Rosenbauer International AG Provisional Figures 2018
Business news for the stock market
Leonding (pta006/12.02.2019/07:00) - * Consolidated revenues increase to Eur 900.1 million
* Earnings significantly improved to Eur 47.9 million
* New record incoming orders of Eur 1.1 billion ensures capacity utilization in 2019
* Photo finish: Q4 2018 was all-time highest individual quarter
|GROUP KEY FIGURES||2017||2018 provisional|
|Order intake||Eur million||970.0||1,107.7|
|Order backlog as of December 31||Eur million||882.6||1,052.3|
In the past 2018 financial year, the Rosenbauer Group resumed its growth trajectory and increased revenues to Eur 900.1 million (2017: Eur 847.6 million). With revenues totaling Eur 345.9 million, the last three months were by far the strongest single quarter in the company's history. The target for an improvement in profitability was successful, with Eur 47.9 million (2017: Eur 21.1 million), EBIT has more than doubled compared to 2017. As of the end of the year, the EBIT margin amounted to 5.3%.
In 2018, the global fire fighting industry benefited from the overall positive economic environment and showed a robust development. Against this backdrop, Rosenbauer also expanded its business volume. In particular, Western Europe and the Near and Middle East saw significantly higher volumes; Stationary Fire Protection as well as Germany and Austria also increased. However, Rosenbauer's business in Asia decreased as the largest individual markets of China and India stagnated.
In the past financial year, Rosenbauer applied the new IFRS 15 accounting standard for the first time, thereby switching from recognition of revenues over time to recognition at a specific point in time. Unlike in the past, revenues and partial profits in vehicle construction are no longer accounted for in accordance with the degree of processing of the construction contracts, but only when the product is delivered to the customer. Very dynamic incoming orders during the year, resulted in a continuing increase in the inventory of finished goods and work in progress as well as in higher costs of goods and personnel.
The financial result was significantly more negative year-on-year, which is primarily attributable to the losses in the carrying amount from hedging relating to the reporting date, higher US rates and increased need for financing. Earnings before taxes (EBT) therefore amounted to Eur 43.0 million (2017: Eur 21.1 million).
The Rosenbauer Group reported record incoming orders of Eur 1,107.7 million again in the past year (2017: Eur 970.0 million). The largest contribution to growth was made by the MENA (Middle East and North Africa) area, which included winning a tender from the General Department of Civil Defence in Kuwait. The major order with a volume of about Eur 35 million includes 55 vehicles, thereof seven aerial ladders and five Panther 6x6. The order intake also grew strongly in the APAC (Asia-Pacific) area and in the Stationary Fire Protection.
As of December 31, 2018, the order backlog amounted to Eur 1,052.3 million, also a new all-time high, up 19% on the previous year's figure (2017: Eur 882.6 million). With this massive order book, the Rosenbauer Group's production facilities will have excellent capacity utilization in the coming months.
Based on this, the Executive Board expects the stable growth in consolidated revenue to continue in 2019, while increasing profitability at the same time.
The above figures are based on advance calculations in accordance with IFRS. The final figures for 2018 will be published on April 5, 2019.
emitter: Rosenbauer International AG
address: Paschinger Straße 90, 4060 Leonding
contact person: Mag. Tiemon Kiesenhofer, MBA
phone: +43 732 6794-568
ISIN(s): AT0000922554 (share)
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