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HELMA Eigenheimbau AG publishes 2008 annual report and presents its ecoSolar-House


HELMA Eigenheimbau AG / Final Results

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HELMA Eigenheimbau AG publishes 2008 annual report and presents its ecoSolar-House

Lehrte, April 30, 2009 - HELMA Eigenheimbau AG today presented its final IFRS results for the 2008 financial year. In a difficult market environment, the HELMA Group accordingly grew revenue in 2008 by 13.1% to EUR 56.6 million (2007: EUR 50.0 million). This significant revenue growth is particularly due to the successfully completed expansion programme, as well as to a reduction in average lead times ('lead time' refers to the period from the signing of a purchase agreement to the handing over of a house to the customer) to 10.8 months (2007: >12 months).
SIGNIFICANT PROFITABILITY IMPROVEMENT:

The HELMA Group's profitability presented a significantly improved picture year-on-year in 2008. EBITDA improved by EUR 4.80 million to reach EUR 0.73 million, thereby marking a scheduled return to profitability. In addition to the higher revenue level, particular factors that played a major role in this respect included a reduction in the materials expense ratio (materials expense expressed as a percentage of revenue) to 77.9% (2007: 82.4%), and the expense savings arising from structural and cost-saving measures. At the same time, the gross profit margin improved to the targeted level of 21-22%.

On the cost side, and given a simultaneous rise in total output, personnel expense was cut by EUR 0.63 million to EUR 5.85 million in 2008, and other operating expenses, which also contain sales commissions, were reduced by EUR 0.21 million to EUR 5.62 million. Particularly in the case of other operating expenses, corporate planning envisaged an even greater reduction for 2008, however, so that although EBIT of minus EUR 0.4 million (2007: minus EUR 7.69 million) represented a significant improvement, it was still below the targeted break-even level on an EBIT basis.
Along with a further increase in revenue and a stabilisation of the gross profit margin at the achieved level, boosting cost efficiency will remain one of the HELMA Group's core objectives in the future. Consequently, further cost-reduction measures were implemented in 2008, from which an even greater reduction in other operating expenses is anticipated.
HELMA CONTINUES TO GAIN MARKET SHARE:

The HELMA Group also achieved significant growth in terms of orders in 2008 as a result of its innovative product portfolio and marked growth rates in the new sales regions, despite a further 6.7% decline in planning permission figures for detached and semi-detached houses in Germany. Net order intake rose 15.4% to a record level of EUR 69.0 million in 2008, and the average net sales price was up from TEUR 153 to TEUR 163. As a consequence, the HELMA Group reports a comfortable order backlog of EUR 53.8 million as of December 31, 2008 (2007: EUR 47.9 million).
The HELMA Group has also started the 2009 financial year with strong sales figures. Net order intake in the first quarter of 2009 was EUR 20.5 million, representing a year-on-year increase of around 40% (Q1 2008: EUR 14.7 million). The HELMA Group consequently commands a highly solid foundation for its targeted profitable growth in 2009.
PRODUCT PORTFOLIO EXPANDED IN THE ENERGY-SAVING HOUSES AREA:
HELMA Eigenheimbau AG has expanded its product portfolio to include the ecoSolar-House, thereby underpinning its strong position in the area of energy-efficient construction methods. The ecoSolar-House combines the use and storage of free solar energy with one or several other energy sources such as gas or pellets, and thus, offers an optimal cost/benefit relationship. With heating energy cost savings of around 30% the ecoSolar-House is positioned between the KfW40-House and the Solar House in terms of its environmental audit performance. As a result of the success of its Solar House, HELMA Eigenheimbau AG is thereby offering interested parties the opportunity to benefit from the advantages of the innovative Solar House technology from a lower entry price, and simultaneously opens up attractive additional sales potential.

POSITIVE OUTLOOK:

Based on the continuing success of sales, the Management Board of HELMA Eigenheimbau AG expects revenue to grow to at least EUR 60.0 million in 2009, EBIT to at least EUR 1.0 million, as well as a positive consolidated net result for the year, in line with the realisation of further cost-reduction measures that have already been implemented. This budget also reflects, in particular, greater economic uncertainties relating to the current financial and economic crisis.

HELMA Eigenheimbau AG's complete annual report can be downloaded from the company's website at www.helma.de under the menu item Investor Relations.
ABOUT HELMA EIGENHEIMBAU AG:

HELMA Eigenheimbau AG is a customer-oriented, full-service construction service provider. The company's focus lies in the development, planning, sale, and construction management of turnkey or partly finished detached and semi-detached houses in solid construction or element solid construction. The tailored planning and individualisation that the company offers at no extra cost, as well as its in-depth expertise in the field of energy-efficient construction, are perceived by the market as a particularly unique selling point of HELMA Eigenheimbau AG. As a property developer, the HELMA Wohnungsbau GmbH & Co. KG subsidiary complements the service range of the HELMA Group.


Investor Relations contact:
Gerrit Janssen
Tel.: +49 (0)40 - 6378 - 5414
ir@helma.de


30.04.2009  Financial News transmitted by DGAP

 
Language:     English
Issuer:       HELMA Eigenheimbau AG
              Zum Meersefeld 4
              31275  Lehrte
              Deutschland
Phone:        +49 (0)5132/8850-0
Fax:          +49 (0)5132/8850-111
E-mail:       info@helma.de
Internet:     www.helma.de
ISIN:         DE000A0EQ578
WKN:          A0EQ57
Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart; Entry               Standard in Frankfurt
 
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