Adhoc announcement according to article 48d section 1 BörseG: Zumtobel Group AG: Preliminary results for the 2014/15 financial year, Record revenues and substantial improvement in profitability
Dornbirn / Austria – Zumtobel Group AG today announced preliminary results for the 2014/15 financial year (1 May 2014 – 30 April 2015): Revenues reached the highest level in the Group’s history at EUR 1,312.6 million (2013/14: EUR 1,246.8 million), which represents an increase of 5.3% over the previous year and also exceeded expectations. This sound growth was supported, in particular, by the fourth quarter with an increase of 9.0% in revenues. The LED share of Group revenues equalled 49.8% for the reporting year (2013/14: 33.6%).
The strategic reorientation and the implementation of restructuring measures proceeded as planned. In this connection, operating profit (EBIT) was reduced, as expected, by negative special effects of EUR 25.4 million.
Group EBIT adjusted for special effects rose by 39.7% to EUR 66.5 million in 2014/15 (2013/14: EUR 47.6 million), which represents a return on sales (adjusted EBIT margin) of 5.1% (2013/14: 3.8%) and is within the target corridor communicated by the Management Board. The solid improvement in earnings was supported, above all, by positive effects from the adjustment of production capacity, the merger of the previously separate Zumtobel and Thorn sales organisations and the Group-wide bundling of purchasing activities. The share price of Zumtobel Group AG reflected the sound development of business during the reporting year with an increase that outpaced the peer group. This, in turn, led to a higher addition of EUR 4.5 million to the provisions for variable remuneration bonuses.
In terms of the segments, revenues in the Lighting Segment (Zumtobel / Thorn) rose by 5.5% to EUR 989.9 million (2013/14: EUR 938.5 million). The Components Segment (Tridonic) fully offset the declining demand for electronic ballasts and the revenues lost by the exit from magnetic technology and the sale of the connecting clamp business with higher LED revenues. Segment revenues increased 2.4% to EUR 393.8 million (2013/14: EUR 384.5 million). Both segments recorded a significant year-on-year improvement in earnings: adjusted EBIT rose by 66.7% to EUR 63.8 million in the Lighting Segment and by 12.8% to EUR 28.3 million in the Components Segment.
The above results have not yet been verified by the auditors. The full annual financial report and details on the financial year ending on 30 April 2015 will be released on 24 June 2015 as indicated in the financial calendar.
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