CROSS Industries AG: Successful start into the first quarter 2016

  • Revenues: € 333,4 Mio. / + 7% to previous year
  • EBIT: € 34,3 Mio. / + 22% to previous year
  • Increase in the number of employees: + 105 employees
  • Positive outlook for business year 2016

Revenues and earnings increased in the first quarter 2016

In the first quarter 2016 CROSS Industries Group achieved revenues in the amount of 333.4 m€ (+7%) after 312.4 m€ in the previous year. The EBIT amounted to 34.3 m€ (+22%) after 28.1 m€ in the previous year. The earnings after taxes increased from 16.5 m€ to 22.9 m€ (+39%). The subsidiaries KTM AG, Pankl Racing Systems AG and WP AG made a very promising start to the first quarter of 2016. Each of them is above the previous year’s level concerning revenues and EBIT.

The group companies achieved the following revenues and operating earnings in the first quarter 2016 (in m€):

Revenues EBIT
KTM AG278.8 25.1
Pankl Racing Systems AG48.8 4.9
WP AG40.0 5.0

Furhter increase in the number of employees: + 105 employees

The employee development within the group is very positive. In the first quarter of 2016 additional 105 employees could be hired, thereof 89 in Austria. As of March 31, 2016 the number of employees amounted to 4,658.

Concentration on listing of CROSS Industries AG in the Prime Market

The CROSS Vehicle Group will intensify its focus on the listing of CROSS Industries AG in the Prime Market. A delisting of its two subsidiaries KTM AG and WP AG was initiated in order to establish a leaner capital market structure. As accompanying measures, tender offers are submitted to the free-float shareholders of KTM AG and WP AG who in the course of a delisting wish to exit the companies in order to facilitate an exit from the companies.

Positive outlook for the business year 2016

In the business year 2016 the CROSS Industries Group further concentrates on organic growth in all core areas. Based on the current order situation, the Management expects a continuing positive development of the business performance.

Key figures

Earnings figures              Q1 2015        Q1 2016  Chg. in %
EBITDA marginin %13.7%15.4%
EBIT marginin %9.0%10.3%
Balance sheet figures 31.12.2015   31.03.2016  Chg. in %
Balance sheet totalm€1,177.61,201.32
Equity ratioin %32.8%31.7%
Net debtm€387.4428.511
Gearingin %100.2%112.7%