HMS Group Announces Financial Highlights for 3M Ended March 31, 2013
OREANDA-NEWS. HMS Group plc (the “Group”) (LSE: HMSG), the leading pump and compressor manufacturer and provider of flow control solutions and related services in Russia and the CIS, today announces its interim management statement and financial highlights for the three months ended March 31, 2013. The financial data is based on management accounts only and hasn’t been reviewed by external auditors.
THE THREE MONTHS OF 2013 HIGHLIGHTS
Backlog grew by 26% year-on-year and amounted to RUB 23,521 million
Order intake grew by 17% from RUB 7,840 million in Q1 2012 to RUB 9,162 million in the reporting period
Revenue for the three months 2013 was flat (-0.3% YoY) and amounted to RUB 7,285 million
Adjusted EBITDA1 for the three months of 2013 amounted RUB 854 million, down 38% year-on-year with EBITDA margin of 11.7%
Profit for the period totaled RUB 26 million
Total debt grew by 51% from RUB 10,034 million in Q1 2012 to RUB 15,195 million
Net debt grew by 158% to RUB 14,150 million, while Net Debt to EBITDA (LTM) ratio reached 2.47
Artem Molchanov, Managing Director (CEO) of HMS Group, commented:
"In the first quarter of 2013, we continued to enjoy a healthy order flow for execution during the rest of the year, and managed to book more than Rub 9 bn of new orders. However, these orders mainly consisted of mid- and small- size contracts for production and delivery of standard equipment.
As a result, we saw profitability in the first quarter of 2013 at a lower level than in the same period of 2012. EBITDA margin of 11.7% appeared to be weaker, compared to what, we believe, can be a long-term sustainable level. However, we prepared a set of measures to be taken in the near future, which would help us to improve profitability in the second half of the year. In addition, we prepare for a number of large-scale projects, which were delayed due to consolidation in the oil and gas industry. These projects are expected to commence in the late 2013 - early 2014
We stay properly cautious about the economic uncertainties around us, though keep confidence in strong fundamentals, which will allow us to benefit from the growth prospects of our main end-markets.”
Комментарии