The impressive sales increase shown in the preliminary numbers can be mainly (19%) contributed to organic growth. While sales in the 4th quarter reached record numbers due to continuous strong demand in Germany, profits did not reach the same levels. Weaker demand in the rest of Europe, extraordinary one time charges for moving and start-up costs in connection with the completion of new plants at 5 existing coating sites in Europe and exceptional restructuring costs caused by the budget freeze in defense spending at the US-plant in Baltimore, were main contributors.
The fact that 15 of the 21 plants reached or exceeded the corporate goals of 20% EBITDA resp. 12% EBIT in addition to new capacities, coating lines, processes and new high volume orders already in place for additional organic growth, prompts management to remain quite optimistic for 2012, despite lower growth projections for the world economy. As a continuation of the “Buy & Build” strategy manage-ment plans the acquisition of an additional 2 – 3 coating companies in 2012. At the annual shareholder meeting the board will propose a dividend of € 0,20 per share for 2011. Expected sales for 2012 are € 90 Million.
With 21 coating sites in 10 countries Impreglon is one of the worldwide leaders in surface technology.
|31.12.2011||31.12.2010||+ / -|
|Sales (TEUR)||74,701||55,194||+ 35%|
|EBITDA (TEUR)||13,418||9,784||+ 37%|
|EBIT (TEUR)||7,525||4,573||+ 65%|
|EBT (TEUR)||6,326||3,234||+ 96%|
|Net Result (TEUR)||4,428||2,305||+ 92%|
|Earnings per Share (EUR) *|
*Number of shares 2010: 6.052K, 2011: 7.782K