Annual result 2010 – solid results – Good start into 2011
Consolidated statement of results
|in EUR million||2010||%||2009||%||Change|
*before extraordinary items
The first six months of 2010 were weak and EBIT declined by 29.2% during that period. The second half saw a strong rebound in order intake and sales, underpinning an increase in EBIT of more than 20%.
The stability of the gross margin resulted from continued sourcing in Asia and further growth in the maintenance business.
Personnel and other operating costs grew in line with sales. The net result declined due to exchange rate losses of EUR 1.1m and a non-recurring provision.
The balance sheet continued to strengthen, with shareholders’ equity totalling EUR 142.2 m, cash of EUR 25.1 m and financial liabilities of EUR 12.9 m (gearing of -8.6%).
At the Annual General Meeting to be held on 6 June 2011, a dividend of CHF 0.63 per share will be proposed, the same as last year.
First quarter sales
|in EUR million||2011||2010||Change|
|of which maintenance||22.10||20.14||+9.7%|
Growth in first quarter 2011 sales benefited from the rebound during the second half of 2010. Order intake was strong (+10.1% versus the prior year quarter).
The group managed to improve gross margin through a better product mix and increased assembly in China.
The group targets organic growth of 5-6% in sales and 10-12% in EBITA.
Next media release: Half-year sales, on 27 July 2011 (after trading)
About agta record:
Ranking among the top players in the global market for automatic pedestrian doors, agta record calls on its integrated technological and commercial know-how. The Group’s extensive expertise covers the design, production, marketing, installation and maintenance of a large range of automatic doors.
Based in Switzerland, agta record is present with subsidiaries in 50 countries around the world. agta record is listed on Euronext Paris, foreign stocks. ISIN: CH0008853209
Hubert Jouffroy – Chairman of the Board
Tel. +33 6 07 44 56 12
Actus Lyon – Financial Public Relations:
Amalia Naveira – Investor & Analyst Relations
Tel. +33 472 180 497
Marie-Claude Triquet – Press Relations
Tel. +33 472 180 493