Schuler reports 3-month sales of €260 million
Press manufacturer Schuler AG has reportedly achieved revenues of €258.8 million for its short fiscal year 2013 from the period October to December 2013. As of January 2014 Schuler has changed its fiscal year to the calendar year. New orders received amounted to €210.6 million.
The most important markets were Germany, China and the US. As part of the Group’s strategic project “Growing Together 2.0”, Schuler is aiming to strengthen its internationalisation and adapting its manufacturing and administration structures in Germany. The Board of Management and second-tier management level were already downsized in 2013 and several German companies were recently merged. The company has earmarked expenses of around €50 million for its corporate transformation program. In the short fiscal year 2013, € 43.2 million of this total were already recognised.
As expected, there was a corresponding negative EBITA and Group profit of -€27.2 million and -€25.0 million, respectively. Adjusted for all special items, EBITA amounted to €18.2 million in the short fiscal year. The adjusted EBITA margin was 7.0% while the adjusted EBITDA margin reached 9.0%. It was therefore as high as in the very successful comparative fourth calendar quarter of 2012.
“Following the implementation of the changes, we aim to achieve the targeted EBITA margin of 8.5 percent again in the medium term, which we had in our record year 2012/13,“ says Schuler’s CEO Stefan Klebert. He confirmed the company’s sales forecast for the fiscal year 2014. Schuler expects consolidated revenues of around €1.1 billion. The order backlog of €1.0 billion and the current stable economy provide a solid basis for achieving this target.