Press Release
RENK Aktiengesellschaft
RENK again operates successfully in 2016 RENK GroupAugsburg, July 28, 2016
No. 2/2016
In € million | First half of 2016 | First half of 2015 |
Order intake | 316 | 293 |
Sales revenue | 227 | 240 |
Order backlog1) | 899 | 812 |
Headcount1) | 2,194 | 2,198 |
Operating profit | 33 | 43 |
Operating return on sales (in %) | 14.6 | 17.8 |
Gögginger Str. 73
86159 Augsburg, Germany
Contact:press@renk.bizwww.renk.eu
1) As of June 30, 2016, as against December 31, 2015
In the first six months of fiscal year 2016, RENK generated an order intake of
€ 316 million (previous year: € 293 million). The significant increases in Special Gear Units business, particularly in marine gear units, more than offset the declines in Standard Gear Units and Slide Bearings business. New orders in Vehicle Transmissions business also slightly exceeded the previous year's level.
At € 227 million, the RENK Group's sales revenue in the first half of 2016 was lower than the comparative figure from the previous year of € 240 million. Only the Standard Gear Units business generated sales revenue above the previous year's level, while the other business areas have not yet reached the level of sales revenue they achieved in the previous year.
In the first half of the fiscal year, RENK received orders that were considerably higher than the level of sales revenue generated. The order backlog thus recorded a significant increase from€ 812 million at the beginning of fiscal year 2016 to € 899 million as of June 30, 2016.
In the first half of 2016, RENK generated an operating profit of € 33 million as against
€ 43 million in the previous year, which included different one-time events. The operating return on sales therefore fell to 14.6% in the first six months of 2016 as compared to 17.8% in the same period of the previous year.
The RENK Group employed 2,194 people as of June 30, 2016 (December 31, 2015: 2,198). It also had 39 subcontracted employees (previous year: 39).
RENK AG is a manufacturer of special gear units and transmissions for tracked vehicles, industrial applications and the shipbuilding industry as well as components for propulsion technology and test systems, supplying customers all over the world. On the world market the company holds a leading position for automatic transmissions for tracked vehicles, gear systems for navy vessels and horizontal slide bearings.
MAN SE, Munich holds a majority share of RENK AG. The MAN Group is one of Europe's foremost industrial players in the sector of Transport- Related Engineering.
Expenditures on internally financed research and development projects rose to
€ 5 million in the first six months of 2016, after € 4 million in the same period of the previous year.
RENK invested a total of € 7 million (previous year: € 12 million) in intangible assets and property, plant and equipment up until June 30, 2016. The focus here was on continuing the investments at the Augsburg site.
RENK unalteredly expects the order intake in fiscal year 2016 to be around the same level as in the previous year. Consolidated sales revenue in 2016 is expected to slightly exceed the previous year's figure. Owing to the unfavorable development on key sales markets and the tense competitive situation, a slight decline in operating profit is anticipated in comparison to 2015. The operating return on sales will therefore still be in the double digits, but it will no longer reach the level of the previous fiscal year.
RENK Group - at a glanceIn € million | First half of 2016 | First half of 2015 | Change in % |
Order intake | 316 | 293 | +7.9 |
Sales revenue | 227 | 240 | -5.5 |
Order backlog1) | 899 | 812 | +10.7 |
Headcount1) | 2,194 | 2,198 | +0.2 |
In € million | First half of 2016 | First half of 2015 | Change in € million |
Operating profit | 33 | 43 | -10 |
Profit before taxes | 32 | 41 | -9 |
Profit after tax | 22 | 29 | -7 |
Earnings per share in € | 3.20 | 4.20 | - |
Operating return on sales in % | 14.6 | 17.8 | - |
Capital expenditures2) | 7 | 12 | -5 |
Depreciation and amortization on noncurrent assets | 10 | 11 | -1 |
Internally financed R&D expenditures | 5 | 4 | +1 |
Cash flows from operating activities | 39 | 36 | +3 |
Cash flows from investing activities | -8 | -12 | +4 |
Net cash flow | 31 | 24 | +7 |
Cash and cash equivalents1) | 213 | 197 | +16 |
Equity1) | 358 | 360 | -2 |
As of June 30, 2016, as against December 31, 2015
For property, plant and equipment and intangible assets
RENK Aktiengesellschaft The Executive Board
Renk AG published this content on 28 July 2016 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 28 July 2016 07:41:03 UTC.
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