Binder+Co AG

Binder+Co order intake in Q1–3/2010 shows a clear upturn

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Source: Binder+Co AG

Gleisdorf -- During Q1–3/2010, Binder+Co, the innovative machine and plant manufacturer from Gleisdorf in Austria, was able to increase its order intake by a notable 50% over the previous year. However, company sales revenues and EBIT remained below the 2009 level.

In view of these facts, Karl Grabner, from the Binder+Co Management Board is not dissatisfied: “Although our sales revenues and EBIT figures for Q1–3/2010 were still below the levels of 2009, the powerful upswing in order intake allows an optimistic view into the coming year.”

Binder+Co, which is an internationally successful specialist in the fields of processing, environmental and packaging technology, was also able to close the third quarter of 2010 with a positive result. As anticipated, due to the after-effects of the economic crisis, at EUR 40.71 million and EUR 4.08 million respectively, sales revenues and EBIT remained some 15% and 14% down on the figures for the preceding year. However, order intake again demonstrated a marked upward trend. In the first three quarters of 2010, this key indicator, which is the most important of all with regard to the future outlook, totalled EUR 48.92 million and was thus roughly 50% higher than the comparable figure for the preceding year. Indeed, in the third quarter order intake even emulated the new business level of the record 2008 financial year.

Clearly positive results in all product segments
In the first three quarters of 2010, the Processing Technology Segment, which specialises in drying, screening and sorting machines for the building materials, stone and earth industries, achieved sales revenues of EUR 19.33 million and thus again provided the largest share of total sales revenues (47.5%; Q1-3/2009: EUR 22.12 million). In spite of a dip in sales revenues, the Segment’s EBIT contribution rose to EUR 1.63 million (Q1–3/2009: EUR 1.41 million). Moreover, thanks to the vast improvement in order intake, which stood at EUR 19.99 million (Q 1-3/2009: EUR 10.71 million), the situation with regard to new orders also stabilised. Single machine sales have remained solid throughout the year to date and in the third quarter there was also a tangible upturn with regard to system business.

At EUR 15.01 million, sales revenues in the Environmental Technology Segment, which focuses on sorting machines for glass and plastics recycling, were down on those of the preceding year (Q 1-3/2009: EUR 18.75 million). In addition, although EBIT amounted to EUR 2.12 million and was therefore again clearly positive, it failed to reach the EUR 2.69 million of the preceding year. New contracts consisted of a first-rate mix of single machines and medium-sized system business and at EUR 20.61 million, order intake was well above the EUR 13.99 million of 2009. Orders also continued to demonstrate stable result quality.

During the first three quarters of 2010, the Packaging Technology Segment, which manufactures high-performance open mouth bagging machinery, was able to clear orders to the value of EUR 6.37 million (Q1-3/2009: EUR 7.17 million). Solid spare parts business helped to maintain EBIT at a clearly positive level of EUR 0.33 million (Q1-3/2009: EUR 0.65 million). Furthermore, at EUR 8.32 million order intake in the first three quarters was EUR 0.46 million up on the EUR 7.86 million of last year.

Marked improvement in the order situation during Q3
Binder+Co order backlog at the end of September 2010 stood at EUR 26.14 million. This was 65.5% above the comparable value of the previous year (September 30, 2009: EUR 15.79 million) and thus again in line with the long-term average. The executive management assumes that this positive trend will be maintained during the coming months.

Workforce numbers again on the increase
In terms of a yearly comparison, the streamlining of internal structures initiated in 2009 resulted in a fall in employee numbers to 233 as at September 30, 2010 (September 30, 2009: 245). However, owing to the marked rise in order intake, the third quarter witnessed a continual increase in the size of the workforce (June 30, 2010: 221).

The Binder+Co share price demonstrates a stable trend
During the third quarter of 2010, the price of the Binder+Co share, which is traded on the mid market of the Vienna Stock Exchange, remained extremely stable. Having started 2010 at a level of EUR 11.10, by September 30, the share price had risen to EUR 12.25, which corresponds with an increase of over 10%. 

The Binder+Co Group
Binder+Co AG is a specialist in the field of processing, environmental and packaging technology and the world market leader in the screening and glass recycling segments. The company was listed on the Vienna Stock Exchange at the end of 2006 and is now part of the third market in the mid market segment. In 2009, Binder+Co was awarded the Austrian National Innovation Prize for its development of the world’s first industrially mature system for the sorting of heat-resistant glass from cullet.

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