ISRA VISION Parsytec AG
Parsytec AG: Profitability further improved: 7 % EAT in Q1
Corporate-news transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Profitability further improved: 7 % EAT in Q1
Q1 2006 revenue slightly up on the prior quarter
Strong cash flow of EUR +0.5 million despite share buyback
Aachen – May 9, 2006. Parsytec AG – the world’s leading producer of surface
inspection systems for strip products – announces its results for the first
three months of financial 2006 as of March 31, 2006. The accounting has
been made according to International Financial Reporting Standards (IFRS).
(EUR million) Q1 2006 Q1 2005
Revenue 6.9 7.5
EBIT 0.7 0.4
EAT 0.5 0.3
Net return 7 % 4 %
RoE (before taxes) 12 % 8 %
Q1 2006 revenue of EUR 6.9 million, 5 % higher than the prior quarter
Revenue in Q1 2006 increased 5 % on the prior quarter (EUR 6.6 million) to
reach EUR 6.9 million. Compared with Q1 2005, revenue dipped 7 %. The scale
of Q1 2006 revenue is in line with the expectations voiced in the 2005
Annual Report for H1 2006. By contrast, Q1 2006 order entries tended
slightly weaker, and at EUR 5.9 million were 24 % down on the strong Q1
2005. The Company attributes this in particular to great volatility in
order entries for the Inspection segment.
Net return rises to 7 %
In Q1 2006, profitability further raised as planned. Compared with Q4 2005
it increased 0.8 % points to 7.0 % EAT. Thus, a major step was taken
towards achieving the planned EAT at a level of 7.5 % of revenue for 2006
as a whole. In comparison to Q1 2005 (3.9 %) an increase of 3.1 % points
was realised. The earnings per share rose by 74 % from 2.3 Cent to 4.0
Cent. The RoE (before taxes) also rose, by 8.0 % in Q1 2005 to 12.1 % in Q1
2006.
Outlook: Parsytec sees its budgeted 2006 targets confirmed
The Company assumes that the net return of 7.0 % EAT achieved in Q1
confirms the validity of the budgeted 2006 target of 7.5 % EAT and
continues to focus on profits growth of a good 50% for 2006. Cash flow is
expected to be at least on a par with the above-mentioned rise forecast in
EAT. Revenue in H1 2006 is expected to remain unchanged with H2 2005, to
rise in H2, and to see an at least moderate growth for 2006 as a whole.
(c)DGAP 09.05.2006
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Language: English
Issuer: Parsytec AG
Auf der Hüls 183
52086 Aachen Deutschland
Phone: +49 (0)2419696-200
Fax: +49 (0)241 9696-500
email: ir@parsytec.de
WWW: www.parsytec.de
ISIN: DE0005089908
WKN: 508990
indices:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin-Bremen, Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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