KHD Humboldt Wedag International AG releases Q3 2011 figures
- Much stronger order intake in Q3 of € 127.8 million
- YTD order intake of € 215.2 million
- Order backlog at € 353.0 million
- EBIT of € 15.7 million after nine months
- Consolidated net income of € 13.8 million as of September 30, 2011
- Revised revenue guidance for 2011
Cologne, November 11, 2011 – KHD Humboldt Wedag International AG (“KHD”), one of the world’s leading providers of equipment and services for the cement industry released its third quarter 2011 interim results today. New orders came in strongly in the third quarter and the Group was able to book an order intake of € 127.8 million. This is well above the half year figure of € 87.4 million. With the new orders KHD now has a solid order backlog of € 353.0 million (H1 2011: 284.4 million).
On the revenue side uncertainty in the markets, especially in India, has led to customer postponements in project execution forcing the Group to revise its revenue guidance for the current fiscal year with revenues reaching € 165.5 million for the first nine months of 2011 (previous year: € 188.6 million). KHD was still able to achieve an EBIT of € 15.7 million (Q3 2010: € 17.8 million). This corresponds to an EBIT margin of 9.5%. KHD was also able to improve net income from € 9.5 million (Q3 2010) to € 13.8 million. The earnings figures also include other operating income of € 4.1 million (Q3 2010: € 2.0 million), which includes a positive one-off effect of € 2.4 million resulting from a revaluation of subsidiary shares from OOO KHD Humboldt Engineering, Moscow, Russia. In October 2011 the Group successfully acquired the remaining 50% of its Moscow entity.
KHD management still expects a positive order trend in the fourth quarter. This will however strongly depend on how the economic environment develops. Due to the above mentioned customer postponements in project execution KHD expects that the previously projected revenues (August 2011) of € 270 million for financial year 2011 will not be attained. Nevertheless, the Group retains its EBIT guidance of € 16 million to € 19 million for the current financial year.
KHD Humboldt Wedag International AG’s full interim report for the third quarter 2011 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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