Hansen Transmissions International reports Q4 and Full Year 2009 results, Hansen Transmissions
Release Date: 2009-05-15
Edegem, Belgium - London, UK - 15 May, 2009 - Hansen Transmissions International NV ("Hansen", "the Group" or "the Company") (LSE ticker 'HSN') today announces its results for the 3 months ended 31 March 2009 and for the 12 months ended 31 March 2009.
HIGHLIGHTS FINANCIAL YEAR 2009
· Revenue growth of +45%
o Revenue of EUR 609 million, from EUR 421 million prior year
o Revenue from Wind turbine Gearboxes +52% to EUR 515 million
o Revenue from Industrial Gearboxes +15% to EUR 94 million
· EBITDA margin of 15.38%
o EBITDA1 of EUR 93.7 million from EUR 61.1 million last year, increase of 53%
o EBITDA margin of 15.38%, from 14.50% prior year
· Net profit growth of +44%
o Net Profit of EUR 45.0 million, from EUR 31.3 million last year
o Basic EPS2 of 0.067 EUR (+17%)
· Whilst contracted 2009 order book remains unchanged, Hansen is working with long term
customers to manage their requirements in line with current operating and credit environment.
· Capacity expansion plan to 14,300 MW in financial year 2013 on-track and fully-financed.
· Ongoing developments in India and China position the Company well for the future
· Continuing to actively pursue cost measures to adapt to the current environment and support EBITDA margins and cash flow
1 EBITDA = earnings before interest, tax, depreciation & amortisation
2 Basic EPS = Basic Earnings Per Share calculated as Net Profit for the year divided by the weighted average number of ordinary shares
Ivan Brems, Hansen Transmissions's Chief Executive Officer, commented:
"Despite considerable economic turmoil during the year, Hansen has achieved significant progress. In the wind gearbox business, we have outperformed the overall wind market with 52% revenue growth. This success was driven by a solid first year of operations at the expanded factory in Lommel, Belgium. The delivery of our first gearboxes from the new factories in India and China has set the foundation for Hansen to build a strong position in these growth regions."
OUTLOOK
The Company remains confident in the projected medium and long term growth prospects of the international wind power market. Hansen's strong product offering and the quality of its customer base ensure that the Company remains well positioned in this market.
The Company expects that the volume and pricing pressure resulting from the difficulties experienced in the credit markets will continue to cause volatility in 2009.
For the financial year 2010, Hansen expects its overall markets to show low to moderate growth, and the company targets its full year revenue growth accordingly.
| Type: | NORMAL |
| Company: | Hansen Transmissions |
| Country: | Belgium |