Bookmark 08-25-2011

Simona: Growth in Revenue and Earnings in First Half

The Simona Group, Kirn, Germany, managed to maintain its forward momentum in sales volumes and revenue over the course of the second quarter of 2011. Sales revenue generated during this period stood at EUR 85.4 million, which corresponds to year-on-year growth of EUR 15.4 million or 22%. In total, revenue for the first half of 2011 rose to EUR 162.3 million, up EUR 32.6 million or 25.1% on the figure posted in the first half of 2010. The percentage increase in sales volumes was also in double figures in the first half of 2011, albeit slightly less pronounced than in the case of revenue, which benefited from price adjustments in response to spiraling commodity costs. The group reaped the rewards of substantial investment spending by customers in key target segments within the chemical, mechanical engineering and photovoltaic industries in particular.

Despite the continued rise in the overall cost of materials, the Group managed to drive EBIT up by 74.4% to EUR 10.6 million. Within this context, optimized capacity utilization and stringent price management proved decisive. The Group’s EBIT margin also improved markedly, rising to 6.5% (prev. year: 4.7%).

Compared to 31 December 2010, total assets increased by EUR 17.2 million to EUR 262.2 million. At EUR 7.1 million (prev. year: EUR 2.9 million), Simona expanded its capital expenditure by a significant margin in the first half.