Record earnings in the first three quarters of 201512/09/2015
- Revenues: € 912.8 Mio. / + 12% to previous year
- EBIT: € 89.7 Mio. / + 19% zum Vorjahr
- Increase of the number of employees: + 429 employees
- Positive outlook for the end of the business year 2015
Revenues and earnings in the first three quarters of 2015
In the first three quarters of 2015 the CROSS Industries Group achieved revenues in the amount of 912.8 m€ (+12%) after 812.6 m€ in the previous year and an EBIT in the amount of 89.7 m€ (+19%) after 75.5 m€ in the previous year. The group companies achieved the following revenues and operating earnings in the first three quarters of 2015 (in m€):
|Pankl Racing Systems AG||129.6||8.0|
Increase of the number of employees: + 429 employees
The employee development within the group is very positive. In the first three quarters of 2015 additional 429 employees could be hired in the three group companies, thereof 175 in Austria. As of September 30, 2015 the number of employees amounted to 4,481.
Restructuring of the long-term financing
After the merger of CROSS Industries AG had been completed, in July 2015 the long-term financing was restructured and debt capital (with maturities between 5 and 10 years) in the amount of 86.5 m€ was raised. This liquidity mainly served to prematurely repurchase the perpetual bond in the amount of 59 m€, which had been classified as equity capital until the repayment.
Positive outlook for the end of the business year 2015
For the remaining three months CROSS Industries AG assumes a continuing positive development of the business performance. The current growth rates of revenues and operating earnings are expected to be achieved again in the fourth quarter.
|Earnings figures||Q1-3 2015||Q1-3 2014||Chg. in %|
|EBITDA margin||in %||14.8%||14.4%||–|
|EBIT margin||in %||9.8%||9.3%||–|
|Balance sheet figures||30.09.2015||31.12.2014||Chg. in %|
|Balance sheet total||m€||1,131.7||1,031.1||10|
|Equity ratio||in %||32%||36%||–|