Rheinmetall AG, Q1 2013 Earnings Call, May 08, 2013

Rheinmetall AG announced earnings results for the first quarter of 2013. For the period, the company generated total sales of EUR 962 million, which equates to a decline of 13%, EUR 1,109 million on the first quarter of 2012. In addition to the considerably lower sales, increased development costs in automotive and uncovered cost structures and an altered product mix in Defence resulted in an operating loss (EBIT before restructuring costs) of EUR 14 million. Including the expenses recorded for restructuring measures of EUR 5 million, the consolidated loss before interest and taxes (EBIT) is EUR 19 million, down EUR 62 million year on year. The company reaffirmed earnings guidance for fiscal 2013. Rheinmetall expected sales of between EUR 4.8 billion and EUR 4.9 billion and earnings before interest and taxes (EBIT) and before restructuring costs of between EUR 240 million and EUR 260 million.

Rheinmetall AG reported consolidated earnings results for the year ended December 31, 2012. For the year, the company reported sales of EUR 4,704 million compared to EUR 4,454 million a year ago. Net operating income was EUR 283 million compared to EUR 336 million a year ago. Earnings before taxes were EUR 239 million compared to EUR 295 million a year ago. Net income was EUR 190 million compared to EUR 225 million a year ago. Earnings per share were EUR 5.00 compared to EUR 5.55 a year ago. EBITDA was EUR 495 million compared to EUR 538 million a year ago. EBIT was EUR 301 million compared to EUR 354 million a year ago. Net income was EUR 190 million compared to EUR 225 million a year ago. Cash flows from operating activities were EUR 359 million compared to EUR 290 million a year ago. Investments in property, plant and equipment, intangible assets and investment property was EUR 234 million compared to EUR 197 million a year ago. Net financial debts of Group was EUR 98 million compared to EUR 130 million a year ago. The Executive Board and Supervisory Board will propose a dividend payment of EUR 1.80 per share against EUR 1.80 per share a year ago. The dividend is subject to approval of the annual general meeting to be held on May 14, 2013. The dividend will be paid on May 15, 2013. For the year 23013, the company expects to achieve sales of between EUR 4.8 billion and EUR 4.9 billion. EBIT in 2013 of between EUR 240 million and EUR 260 million. Group EBIT for 2013 is forecast at between EUR 170 million and EUR 190 million.