DGAP-News

INDUS intends to grow again in 2016 - Seite 2

results in the Construction/Infrastructure, Medical Engineering/Life
Science and Engineering segments reached an above-average level; at 14.2%,
14.9% and 13.3%, respectively, the EBIT margins in these segments clearly
exceeded the Group-wide target of 10%. The Automotive Engineering segment
and the Metals Technology segment posted lower EBIT margins of 5.8% and
7.9%, respectively, than in the previous year (6.9% and 9.2%,
respectively). The earnings positions of both segments were adversely
affected by start-up problems of new series products as well as by negative
effects arising from the strong appreciation of the Swiss franc (the Metals
Technology segment comprises two Swiss companies).

Investments reach record level of over EUR 100 million

INDUS acquired a total of five companies in 2015: RAGUSE and automation
specialist IEF-Werner joined the Medical Engineering/Life Science segment.
The subsidiaries made three strategic complementary acquisitions in the
Medical Engineering/Life Science segment and the
Construction/Infrastructure segment. Including investments in property,
plant and equipment as well as intangible assets, INDUS invested a total of
EUR 107.3 million in 2015 (previous year: EUR 97.2 million). In the context
of the ongoing optimisation of the portfolio, the business activity of a
smaller company (SEMET) was discontinued.

Net worth position: Gearing improves in spite of growth

The balance sheet relations of the INDUS Group remained stable in 2015. Net
debt amounted to EUR 356.3 million. At the same time, equity increased by
EUR 45.5 million to EUR 595.4 million. At 41.9%, the equity ratio stayed at
the prior year level. Net-debt-to-EBITDA improved slightly to 1.9 years
(previous year: 2.0), while gearing (net-debt-to-equity) improved to 60%.

Cash flow statement: Cash flow up by roughly EUR 44 million

Cash flow from operating activities increased sharply in 2015, primarily
due to greatly improved operating cash flow, and amounted to EUR 130.9
million (previous year: EUR 87.0 million). Cash and cash equivalents of EUR
132.2 million (previous year: EUR 116.5 million) will cover the planned
fixed asset investments of roughly EUR 75 million as well as additional
acquisitions. INDUS plans to invest up to EUR 50 million in acquisitions in
2016. In the first few months of the year, the INDUS Group already acquired
COMPUTEC (which complements the BUDDE investment) and MBH Solutions (for
the ANCOTECH investment).

Forecast: Moderate growth planned for 2016

INDUS CEO Jürgen Abromeit is cautiously optimistic about 2016 and sees both
opportunities and risks. "I believe that the recovery in the eurozone and