CENTROTEC Sustainable AG: Revenue and earnings growth continues - full-year forecast confirmed
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Revenue and earnings growth continues - full-year forecast confirmed
Brilon, November 14, 2016: The CENTROTEC Group maintained its organic growth in the third quarter and increased its revenue by 2.4% compared with the prior-year period, to EUR 151.9 million (previous year EUR 148.4 million). Taking into account the Croatian subsidiary PRO-KLIMA, which was only included in consolidation from mid-2015, revenue for the first nine months of the current financial year rose by 4.7% to EUR 415.7 million (previous year EUR 396.9 million). All three segments posted higher revenue both in the quarter under review and cumulatively for the first three quarters. The EBIT operating result for Q3 was up 5.9% at EUR 14.6 million (previous year EUR 13.8 million). In the first nine months of the current year, EBIT thus rose by 4.2% to EUR 23.2 million (previous year EUR 22.3 million). Earnings per share (EPS) at the nine-month mark reached EUR 0.78 (previous year EUR 0.74). The third quarter saw a positive development in heating market internationally, among other factors thanks to newly introduced products, compensating for a slight downturn in Germany. The ERP Directive, which took effect in September 2015, as well as EU notification of the German CHP Act which only took place a few days ago resulted in a fall in business for calorifier units and combined heat and power units over the year to date. The solar thermal market, too, continues to decline. On the other hand CENTROTEC was able to increase its sales of condensing boiler systems and heat pumps. The condensing boiler system developed specifically for the international markets made a positive contribution to revenue growth. The forecast for the 2016 financial year is confirmed, and revenue of EUR 550 to 570 million along with EBIT of between EUR 32 and 35 million are expected.
CENTROTEC Sustainable AG CENTROTEC Sustainable AG enjoys a presence in around 50 different countries through subsidiaries and sales partners. The principal group companies are Wolf, Brink Climate Systems and Ned Air in the Climate Systems segment, specialising in heating, climate control and ventilation technology e.g. in the form of solar thermal systems, CHP units and home ventilation systems with heat recovery, as well as Ubbink and Centrotherm in the Gas Flue Systems segment, with their focus on gas flue and air piping systems. CENTROTEC is consequently Europe's only listed full-service provider of heating and climate control technology, solar thermal systems and energy- saving solutions for buildings.
CENTROTEC Sustainable AG, Am Patbergschen Dorn 9, D-59929 Brilon, Germany ISIN: DE0005407506, WKN: 540750, home stock exchange: Frankfurt/ Main; indices: Prime All Share, Prime Industrial For further information, contact: CENTROTEC Sustainable AG, Carsten Vogt, Tel.: +49 (0)2961 96631-103 or MetaCom GmbH, Georg Biekehör, Tel.: +49 (0)6181 98280-30
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Language: English Company: CENTROTEC Sustainable AG Am Patbergschen Dorn 9 59929 Brilon Germany Phone: +49 (0)2961 96631-0 Fax: +49 (0)2961 96631-100 E-mail: firstname.lastname@example.org Internet: www.centrotec.de ISIN: DE0005407506 WKN: 540750 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service