Business News
Hönle Increases Net Income by 90 %
Thursday 15. May 2008 - The revenue of the Hönle Group increased in the first half year by 41.2 % to 18,036 T. The Earnings before interest and taxes (EBIT) rose by 64.5 % to 3,416 T. Earnings before taxes (EBT) climbed by 53.7 % to 3,702 T. Net income rose even more strongly by 89.1 % to 2,785 T; this corresponds to earnings per share of 0.51 (PY: 0.27 ) in the first six months. Net profit on sales reached 15.4 % compared with 11.5 % in the previous year.
The Panacol Group and PrintConcept GmbH were consolidated for the first time in the second quarter of 2007/2008. Hönle acquired the two companies in January 2008. Furthermore the positive business development in digital print and coating applications contributed to the sales and profit increase.
Outlook
The recent Eltosch GmbH acquisition represents a further significant milestone in the Hönle Groups corporate development. For more than 30 years now, Eltosch has developed, produced and sold drying plants for the sheet-fed offset printing industry. Through the acquisition, Hönle succeeded in tapping directly into one of the largest UV markets. Moreover, Hönle acquired powerful, high quality products, fully fledged equipment technology that is secured through several patents, and longstanding competence in the UV, infrared, and hot air drying segments.
The business environment continues to be very positive for UV technology. Incoming orders and the orders portfolio of the Hönle Group are above the previous years level. Hönle expects positive effects on revenue from the largest printing machine trade fair of the world, DRUPA, where Hönle will present a new generation of UV dryers. The equipment, which is based on a patented reflector geometry, is characterised by higher UV intensity with simultaneously reduced temperature development. In addition, new micro controllers for controlling plants and, in particular, compact dryers for small plants will be exhibited.
Given the present stable economic environment and the acquisitions undertaken, Hönle is aiming to achieve an 85% sales increase and a 40 % increase in the operating result (EBIT) for the current financial year. Hönle expects income-increasing effects from the Eltosch GmbH acquisition to be felt as early as in the coming financial year.