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HELMA Eigenheimbau AG reports record FY 2015 results; targeted further doubling of sales revenue by 2018

DGAP-News: HELMA Eigenheimbau AG / Key word(s): Preliminary Results

2016-03-03 / 08:29
The issuer is solely responsible for the content of this announcement.

HELMA Eigenheimbau AG reports record FY 2015 results; targeted further doubling of sales revenue by 2018

Lehrte, March 3, 2016 - HELMA Eigenheimbau AG, the specialist for individual solid-construction houses and sustainable energy concepts, raised Group revenue and earnings to a new record level in the 2015 financial year. According to preliminary IFRS figures, the HELMA Group grew its revenue by 23.5 percent to EUR 210.6 million in 2015 (previous year: EUR 170.5 million). As planned, this marked growth was particularly due to subsidiary HELMA Wohnungsbau GmbH, which boosted its revenue contribution from EUR 65.7 million to EUR 110.9 million in the reporting year.

Consolidated EBIT was up by 25.5 percent in 2015, growing from EUR 14.2 million to EUR 17.8 million, and thereby exceeding its budgeted level of EUR 17.5 million by EUR 0.3 million. Accordingly, the EBIT margin on revenue registered a slight improvement to 8.4 percent (previous year: 8.3 percent). The continued very positive trend at the HELMA Group was clouded by an unplanned one-off expense arising from the discovery of fraudulent bookings made by a former employee. The resultant risk provisions were expensed in full under other operating expenses. After a net financial result of EUR -2.8 million (previous year: EUR -2.5 million), earnings before tax (EBT) amounted to EUR 15.0 million in the year under review (previous year: EUR 11.7 million). Consolidated net income after minority interests grew by 22.4 percent, rising from EUR 8.1 million to EUR 10.0 million, thereby reaching a double-digit figure in millions of euros for the first time in the company's history.

Strong order book position expected to continue:

The HELMA Group also achieved significant growth in the sales area in the 2015 financial year, reporting new order intake up 39.6 percent from EUR 193.0 million to EUR 269.4 million. The Management Board of HELMA Eigenheimbau AG assumes that new order intake will register further tangible growth during the current financial year. Based on various projects' planned sales launch dates, it is expected that the final three quarters of the year will be significantly stronger than the first quarter, as in the previous year.

Revenue to double by 2018:

On the basis of a record order book position as of December 31, 2015, and the company's positive business trend, the Management Board of HELMA Eigenheimbau AG confirms its forecast for the current financial year, and anticipates consolidated revenue of EUR 260 million in 2016. Assuming a stable EBIT margin, consolidated EBIT of around EUR 22.0 million is expected. Despite the relatively mild winter, it is assumed on a project-related basis that most revenue and earnings contributions will be generated in the second half of 2016, as in previous years.

Profitable growth is also anticipated for the two subsequent financial years as long as the market environment does not worsen considerably. In other words, successful implementation of the measures deriving from the medium-term growth strategy that was presented for the first time 30 months ago, which has resulted in a well filled and attractive project pipeline for the HELMA Group, feeds through to the expectation that consolidated revenue will grow to EUR 340 million already by 2017. Beyond this, a further increase in consolidated revenue to EUR 420 million for the 2018 financial year is regarded as possible assuming that no unexpected delays were to occur to several projects at the same time. This would be equivalent to an approximate doubling in revenue in the three-year period up to 2018, compared with 2015. As far as the financial years from 2017 are concerned, an EBIT margin in the 8.0 to 11.0 percent range is anticipated assuming that the aforementioned revenue levels are met (previous medium-term planning: 7.0 to 10.0 percent).

Key financials at a glance:

An overview of the preliminary financials for the HELMA Group for the 2015 financial year can be downloaded at the link below. The 2015 annual report and dividend proposal for the 2015 financial will be published on March 31, 2016.

About HELMA Eigenheimbau AG:

HELMA Eigenheimbau AG is a customer-oriented building services-provider offering a full range of services. The focus is on the development, planning, sale, and construction management of turnkey or partially completed detached and semi-detached houses using the solid construction method. Particularly the option of individual planning and individualisation without extra costs, as well as the company's outstanding know-how in the area of energy-efficient construction methods, are perceived on the markets as HELMA Eigenheimbau AG's unique selling propositions. With its persuasive sustainable energy concepts, the company has established itself as one of the leading providers of solar energy-saving homes, and is one of the most experienced companies in the solid construction house sector, having constructed several thousand owner-occupier homes. As a property development company, holiday home builder, and finance broker respectively, HELMA Wohnungsbau GmbH, HELMA Ferienimmobilien GmbH and Hausbau Finanz GmbH round out HELMA Group's product range.

Investor Relations contact:

Gerrit Janssen, Management Board member/CFO
Tel.: +49 (0)5132 8850 113

2016-03-03 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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