Financial year 2015: Positive business trend despite headwinds

    August 5, 2016
       Burckhardt Compression, one of the world’s leading manufacturers and service providers of reciprocating compressor systems, again passed in the financial year 2015 (as per March 31, 2016) the CHF 500 mn mark with slightly increased order intake. Sales hit the record high of the previous year with an increase of 3%. Operating income declined by 2% year-on-year and net profit by 4%. An unchanged dividend of CHF 10.00 per share will be proposed at the Annual General Meeting.
     
      Order intake slightly higher than in previous year
     
      Order intake at Burckhardt Compression again passed the CHF 500 million mark and, at CHF?523.2?mn, exceeded the figure reported for the previous year (CHF?514.1?mn). Incoming orders at the Compressor Systems (CS) business were slightly lower at CHF 351.4 mn (CHF?355.6?mn), while the Components, Services & Support (CSS) business reported an increase of 8.4% to CHF 171.8 mn (previous year CHF?158.5?mn). Growth at the CSS business was mainly driven by orders for retrofit and engineering services as well as new customers.
     
      Renewed sales growth
     
      Burckhardt Compression’s sales hit another record high of CHF?487.2?mn in the fiscal year 2015 (plus 2.9%, at constant exchange rates plus 3.9%). Unlike in the previous years, sales were fairly evenly divided between the first and second half of the reporting period. CSS reported a 5.7% increase in sales from CHF?146.5?mn to CHF?154.8?mn, fueled by replacement part orders. Sales at the CS business area grew by 1.6% to CHF?332.4?mn.
     
      Gross profit amounted to CHF?151.7?mn, incrementally below the figure of CHF?152.8?mn reported for the previous year. The resulting gross profit margin was 31.1%, compared to 32.3% in the previous year. The margin at the CS business declined, whereas the CSS business remained at prior year level.
     
      Slight decrease in operating income
     
      Operating income declined by 2.1% year-on-year, from CHF?74.6?mn to CHF?73.0?mn. Net income amounted to CHF?55.5?mn, a decline of 3.6% from the prior-year level (CHF?57.6?mn), and the resulting net income margin was 11.4%. Net income per share amounted to CHF?16.34 (previous year CHF?16.93).
     
      Strong balance sheet
     
      Total assets rose by 3.9% to CHF?708.0?mn in the fiscal year 2015. Shareholders’ equity increased by 4.9%, leading to a slightly higher equity ratio of 50.2% compared to 49.7% in the previous fiscal year. Non-current assets rose by a total of CHF?63.4?mn to CHF?247.2?mn, primarily due to the construction of the two new assembly plants in South Korea and the US. The CHF?58.1?mn decline in the net financial position to CHF?93.2?mn is attributed primarily to the investments made in connection with the increase in manufacturing capacity in the US and South Korea, and to the purchase of a minority interest in Arkos Field Services.
     
      Market position expanded
     
      In December 2015, Burckhardt Compression acquired a 40% stake in Arkos Field Services, a highly experienced provider of compressor services and components to the natural gas industry. Acquiring a stake in the US based Arkos improves the access to the US compressor services
     
      market, which is the world’s largest installed base of reciprocating compressors.
     
      In March?2016, the company signed an agreement to acquire a 60% majority interest in Shenyang
     
      Yuanda Compressor, the number one manufacturer of reciprocating compressors in China. This acquisition extends Burckhardt Compression’s local presence in China to new segments of the market, widens its product range so it can address a broader range of market needs, and gives it direct access to a well-established local supply network from which its other manufacturing sites can benefit.
     
      Growth of the company requires new organizational structure
     
      The company’s growth in recent years requires a revision of its organizational structure. In order to meet customer needs even better, Burckhardt Compression will adopt a new divisional structure consisting of two divisions, effective June?1, 2016. The Systems Division (new compressor business) and the Services Division (service and components business) will be managed by COOs who will report directly to the CEO. At the same time the size of the Executive Board will be reduced from eleven to five members. It will comprise the CEO, the CFO, the CHRO and the two division heads. Sandra Pitt was hired as the new CHRO on June?1, 2015.
     
      Outlook for the fiscal year 2016
     
      The key markets continue to show positive trends despite economic and geopolitical uncertainties.Full-year order intake for Burckhardt Compression Group (excl. Shenyang Yuanda Compressor) is projected to be around the level of the previous year. Group sales are forecast to be well above CHF?500?mn and the operating profit margin (excl. Shenyang Yuanda Compressor) is expected to recede temporarily to 11% to 13% in the fiscal year 2016 before rising again in the fiscal year 2017(excl.?Shenyang Yuanda Compressor) to 14% to 16%. A more detailed financial outlook (including Shenyang Yuanda Compressor) will follow in the coming months when Burckhardt Compression will have made more progress with the implementation of the new organizational structure and the integration of Shenyang Yuanda Compressor.
     
      Unchanged dividend
     
      The Board of Directors will propose an unchanged dividend of CHF?10.00 per share at the Annual General Meeting. This corresponds to a payout ratio of 61.2% (previous year 59.1%) of net income, which is in the middle of the targeted payout range of 50% to 70%.
    主站蜘蛛池模板: 中文字幕色AV一区二区三区| 亚州国产AV一区二区三区伊在| 无码少妇精品一区二区免费动态| 国产成人无码一区二区在线观看| 国产亚洲情侣一区二区无码AV| 国产色情一区二区三区在线播放| 亚洲AV无码一区二区二三区软件 | 国精品无码一区二区三区在线 | 一区二区三区四区在线播放 | 国模大胆一区二区三区| 免费观看日本污污ww网站一区| 一区二区三区免费视频网站| 久久一区二区精品综合| 无码一区二区三区中文字幕| 国产AV国片精品一区二区| 久久一本一区二区三区| 国模无码视频一区二区三区| 日韩精品人妻一区二区中文八零| 国产对白精品刺激一区二区| 国产一区中文字幕| 亚洲一区二区中文| 日韩十八禁一区二区久久| 无码少妇一区二区| 琪琪see色原网一区二区| 亚洲国产美国国产综合一区二区| 国产乱人伦精品一区二区在线观看| 一区二区三区免费视频播放器| 亚洲男女一区二区三区| 一区二区三区精品视频| 精品欧洲av无码一区二区14| 亚洲国产综合无码一区二区二三区 | 亚洲第一区在线观看| 亚洲第一区视频在线观看| 精品一区二区三区免费观看| 无码aⅴ精品一区二区三区 | 海角国精产品一区一区三区糖心| 国产一区二区内射最近更新| 日亚毛片免费乱码不卡一区| 国产精品久久一区二区三区| 国产亚洲一区二区三区在线| 日韩精品一区二区三区视频|