Despite the unsettled economic environment, in fiscal year 2012 the Schaltbau Group again managed to surpass both sales revenue and Group net profit compared with the previous year. Preliminary figures show that sales grew by 13.9% to ? 362.8 million. EBIT improved by 7.3% to reach ? 29.5 million. The result is influenced by exceptional factors relating to the first-time consolidation, acquisition costs and upfront expenditure for personnel as well as the cost of research and development. The EBIT margin decreased to 8.1% in the year under report, compared with 8.6% in 2011.
Group net profit for the year rose to ? 22.2 million (2011: ? 21.7 million), despite the previous year having been positively impacted by fair value gains recorded in interest and investment income. The profit attributable to shareholders of Schaltbau Holding AG amounted to ? 19.0 million (2011: ? 18.7 million). At ? 3.09, undiluted earnings per share were higher than the most recently forecast figure. Adjusted to account for the impact of the 1:3 share split that came into force on 20 August 2012, earnings per share for the fiscal year 2011 amounted to ? 3.13.
Despite the significant increase in the balance sheet total, the equity ratio rose to stand at 29.9% on the balance sheet date (2011: 27.9%). Due to a sharp rise in working capital resulting from strong sales in the final quarter 2012 as well as growth in order-book figures, Group net bank liabilities amounted to ? 45.0 million (2011: ? 27.4 million).
Due to the good earnings situation in fiscal year 2012 and the unbroken positive prospects for the future of the Schaltbau Group, the Executive Board will put forward a proposal for the appropriation of profit to the Supervisory Board to pay a dividend of ? 0.77 (2011: ? 0.60).
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