FRANKFURT, Germany, August 13, 2014 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Today, Earnings Review released its research reports regarding Tipp24 SE (ETR: TIM), Vossloh AG (ETR: VOS), Deutsche Annington Immobilien SE (ETR: ANN), C.A.T. oil AG (ETR: O2C) and Schaltbau Holding AG (ETR: SLT). Private wealth members receive these notes ahead of publication. To reserve complementary membership, limited openings are available at: http://earnings-review.com/5677-100free.
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Tipp24 SE Research Reports
On August 6, 2014, Tipp24 SE (Tipp24) announced its H1 2014 financial results. Tipp24 generated revenues of €68.2 million, versus €76.4 million during H1 2013. Consolidated EBIT amounted to €6.0 million, significantly lower than the prior year EBIT of €21.4 million. Tipp24 attributed the fall to increased employee and other operating expenses as well as a high winning payout of MyLotto24 Limited of around €6.7 million in March 2014. Consequently, the half yearly EBIT margin declined to 8.8% from 28.1% in H1 2013. Tipp24 continues to expect its full year 2014 revenues to grow between €135 million and €145 million, but has reduced its EBIT forecast to between €15 million and €25 million, from €25 million and €35 million, forecasted earlier. The full research reports on Tipp24 are available to download free of charge at:
http://earnings-review.com/5677-TIM-12Aug2014.pdf
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Vossloh AG Research Reports
On July 24, 2014, Vossloh AG (Vossloh) reported H1 2014 results that were significantly weighed down by restructuring, expenses in connection with the realignment of the Group and revised assessment of risks. The Company reported results before interest and income taxes (negative EBIT) of €145.4 million, versus an EBIT of €12.1 million, during the H1 2013 period. Sales revenues, however, rose by 2.2% YoY to €626.0 million in H1 2014. Incoming orders too exceeded the corresponding amount in the prior year by 12.4% YoY to €661.6 million. The order backlog as of June 30, 2014 amounted to €1.8 billion, up 15.8% YoY. For full year 2014, Vossloh expects a negative EBIT of €150 million to €180 million. Vossloh also said that the previously planned sales revenues growth target of 10% YoY for full year 2014 is no longer achievable and that it is striving to return the operations of the Company to profitability in 2015. The full research reports on Vossloh are available to download free of charge at:
http://earnings-review.com/5677-VOS-12Aug2014.pdf
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Deutsche Annington Immobilien SE Research Reports
On July 31, 2014, Deutsche Annington Immobilien SE, (Deutsche Annington) revised its full year 2014 financial guidance, building upon a strong set of H1 2014 numbers. The Company expects FFO 1 to total €275 million - €285 million in 2014, versus €250 million - €265 million, as forecasted earlier. For H1 2014, FFO 1 went up by 26.0% YoY to €130.3 million, primarily due to decrease in interest expense and the DeWAG portfolio being incorporated from April 1, 2014 as scheduled. Taking the DeWAG portfolio into account, the monthly in-place rent per square metre rose 3.9% YoY to €5.56 at the end of H1 2014 and the vacancy rate dropped 0.1% YoY to 3.8%, all confirming the operational strength of the Company. Furthermore, the Company has increased its investments once again in modernization by €10 million to €160 million for 2014, more than doubling its last year's investments of around €70 million. The full research reports on Deutsche Annington are available to download free of charge at:
http://earnings-review.com/5677-ANN-12Aug2014.pdf
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C.A.T. oil AG Research Reports
On August 6, 2014, C.A.T. oil AG's (C.A.T. oil) stock fell 3.39% from its previous day's close to end the trading session at €13.66. The stock opened at €13.91, touched an intraday high of €14.00 and a low of €13.04. The stock has a 52-week low of €11.65 and a high of €24.58. Over the past 12-months, the stock has gained 6.72%. As per the Financial Calendar page on the official website of C.A.T. oil, the Company will announce its Q2 2014 financial results on August 28, 2014. Cat Oil is an Austria-based holding Company, which is active in the oil industry. The full research reports on C.A.T. oil are available to download free of charge at:
http://earnings-review.com/5677-O2C-12Aug2014.pdf
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Schaltbau Holding AG Research Reports
On July 24 2014, Schaltbau Holding AG (Schaltbau) announced preliminary financial results for H1 2014. Sales were up marginally by 1.6% YoY to €196.7 million. According to Schaltbau, sales generated by the Polish subsidiary RAWAG, which has been fully consolidated since April, and by ALTE Technologies, the operations of which have been included since the end of April, were the primary sources of growth. Adjusted for the impact of first-time consolidation, the order book grew by 3.2% YoY, while sales went down by 4.5 YoY. The Company attributed the modest organic sales performance during the period largely to project postponements. Earnings too were held down in particular by substantial upfront expenditure for future growth as well as by expenses for projects that are to be recognized from 2015 onwards. Acquisition-related expenses, in addition to the impact of project postponements, also had a negative impact on earnings. However, these negative factors were more than compensated by the revaluation gain recognized on the 42.6% shareholding in RAWAG, resulting in an EPS of €2.93 in H1 2014, as against €1.71 in H1 2013. The full research reports on Schaltbau are available to download free of charge at:
http://earnings-review.com/5677-SLT-12Aug2014.pdf
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