KHD Humboldt Wedag International AG: Publishes 2011 Half Year Report
- Net result for the period increased by € 1.3 million up to € 6.4 million
- Lower than expected order intake and revenue in H1 2011
- Significant increase in order intake in the second half of 2011 expected
Cologne – August 12, 2011. KHD Humboldt Wedag International AG (“KHD”), one of the world’s leading providers of equipment and services for the cement industry, publishes its 2011 half year report today. After winning several new jobs KHD was able to gain strength in the second quarter and booked an order intake of € 51.4 million after a slow start in Q1 with € 36 million. As the revenue cycle for large industrial projects is 12 – 36 months the revenue line in H1 2011 felt the dip from the orders taken in during 2009 economic crisis. Thus, group revenue fell from € 135.4 million in H1 2010 to € 106.6 million in H1 2011. Nevertheless, KHD continues to show a strong order backlog of € 284.4 million as per June 30, 2011. The group notes EBIT of € 7.2 million as of June 30, 2011, which corresponds to a 6.8% margin. Despite the lower revenues the group was able to improve net income by an additional € 1.3 million bringing it up to € 6.4 million for H1 2011.
For the second half of 2011 KHD management expects a significant increase in order intake. The company has already booked a major order of € 80 million in July 2011 for two new cement lines. Order intake that was previously planned for H1 2011 is shifting to H2 2011. Management also expects the group revenue for the full year 2011 at around € 270 million with an anticipated EBIT margin in between 6% and 7%. KHD Humboldt Wedag International AG’s full 2011 half year report will be available today under www.khd.com / investor relations.
KHD is a global leader for providing equipment and services to cement producers with over 150 years of experience in the cement industry. Process engineering and project management are among the core competencies of the technology-focused group. KHD offers a wide spectrum of products and services for the cement industry and is a leader in environmentally friendly and energy-efficient products for the grinding and pyro processing sections of the plants. The holding company KHD Humboldt Wedag International AG, based in Cologne, Germany, coordinates its internationally operating subsidiaries. The group employs more than 750 employees worldwide, including customer service centers in growing markets like India, Russia and the Asia Pacific region. KHD Humboldt Wedag International AG (ISIN: DE0006578008, WKN: 657800) is listed on the Frankfurt stock exchange (General Standard). More information: www.khd.com.
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