Deufol AG with a stronger operating first half year 2012
Aug 15, 2012. Total sales in the first six months of 2012 were at € 158.0 million 3.9 % higher than in the same period in the previous year. Adjusted for the 10 % average appreciation of the US dollar versus the euro, this growth amounts to 2.0 %.
Aug 15, 2012. /Lesprom Network/. Total sales in the first six months of 2012 were at € 158.0 million 3.9 % higher than in the same period in the previous year. Adjusted for the 10 % average appreciation of the US dollar versus the euro, this growth amounts to 2.0 %, as the company said in the press release received by Lesprom Network.
With a 56.4 % share of Group sales, the proportion accounted for by Germany remained stable compared to the previous year. The share of sales realized elsewhere in Europe decreased, from 28.4 % to 25.6 %, and the USA’s share of sales fell by 2.6 percentage points to 17.9 %.
Adjusted operating result 20% above previous year
The operating result (EBITA) adjusted by one-off expenses amounted to € 5.16 million and thus exceeded the previous year’s figure of € 5.07 million. One-off expenses of € 2.65 million arose predominantly in connection with the € 26 million action for damages against former managers of the company. But included are also costs associated with the conversion into a European public limited company (SE) and for the introduction of registered shares. In the first half of 2012, the unadjusted EBITA amounted to € 2.51 million. Including a one-off effect in Belgium in the second quarter of 2011 (release of liabilities to employees in the amount of € 0.78 million), the comparative operating basis amounted to € 4.29 million. Hence, the comparative operating result is around 20.3 % above the previous year.
The individual segments performed as follows in the first six months: In Germany we recorded a welcome increase in EBITA from € 2.67 million to € 3.89 million. This development reflects initial success for the reorganization and integration measures launched by the company. In the Rest of Europe, EBITA declined by 34.1 % to € 2.36 million, mainly due to the discontinuance of the one-off effect in Belgium (see above). The USA / Rest of the World segment realized a result of € 0.16 million (previous year: € 0.18 million). This reflected expenses associated with the expansion of capacity in the Data Packaging division. The EBITA loss of Deufol AG (Holding), were most of the one-off expenses occurred, was € 3.87 million (previous year: € 1.35 million) as a consequence of the one-off expenses.