21st Austria weekly - Mayr-Melnhof, Schoeller Bleckmann Oilfield, Porr, Strabag (19/03/2019)

MAYR-MELNHOF – Widerstand bei 84, fallende Highs, Abwärtstrend ???

Mayr-Melnhof: The Mayr-Melnhof Group, producer of cartonboard packages, was able to conclude the year 2018 with a further profit increase in succession. Consolidated sales of the Group totaled Euro 2,337.7 mn and thus were at previous year's level (2017: Euro 2,336.8 mn). A price-related increase in sales at the cartonboard division contrasts with a slight decrease at the packaging division.  At Euro 217.1 mn, an operating profit above the previous year's level was achieved (2017: Euro 215.0 mn). The Group’s operating margin reached 9.3 % (2017: 9.2 %), the return on capital employed 15.5 % (2017: 15.1 %). Profit for the year rose by 5.9 % to Euro 164.2 mn (2017: Euro 155.0 mn). In line with the sound profit development, a recommendation will be made to the 25th Ordinary Shareholders’ Meeting on April 24, 2019, to increase the dividend for the financial year 2018 to Euro 3.20 per share (2017: Euro 3.10). "After another record result was achieved in 2018, our goal is to make 2019 another year of success. High attention will also be paid to the continuation of our acquisition course", the company stated.
Mayr-Melnhof: weekly performance: -1.19%

Schoeller Bleckmann Oilfield: Schoeller-Bleckmann Oilfield Equipment AG (SBO), supplier of tools and equipment for directional drilling, rose sales by 29.6 % to Euro 420.2 mn. Bookings received by SBO in 2018 climbed by 40.9 % to Euro 481.9 mn (2017:  342.0 mn). Order backlog at the end of 2018 was Euro 97.7 mn. Earnings before interest, taxes, depreciation, and amortization (EBITDA) went up from Euro 74.7 mn in 2017 to Euro 120.0 mn in 2018. EBITDA margin stood at 28.6 %, above the long-term average of 24.3 %. Profit from operations (EBIT) before non-recurring items tripled from Euro 23.6 mn in 2017 to Euro 74.6 mn, and the EBIT after non-recurring items totalled Euro 70.7 mn (2017: 25.6 mn). This figure includes expenses resulting from a restructuring program under which SBO is closing two sites in Mexico and England, the company announced. Production capacities will be relocated to other sites to retain them to a large extent. These measures are additional steps for efficiency and productivity enhancements within the Group. The Executive Board will propose to the Annual General Meeting a dividend of Euro 1.00 per share for business year 2018 (compared to Euro 0.50 in the previous year).
SBO: weekly performance: -0.77%

Porr: Austrian construction group Porr AG announced, that the order backlog surpassed the Euro 7,0 bn mark for the first time. CEO Karl-Heinz Strauss: "Porr is powerfully positioned and a decisive player on the market. Given the tense market environment, our results are particularly solid. We face the future with confidence. Demand for construction services is higher than ever before and here we are Best in Class". Based on preliminary figures, Porr increased its production output to Euro 5,592.9 mn, thus exceeding the targets it had set. The order backlog reached a new historic high: at Euro 7,099.6 mn, it grew by 12%, even despite the sharp rise in production output.  The order intake thereby held steady and stood at Euro 6,325.7 mn (previous year: Euro 6,300.9 mn).
Porr: weekly performance: 4.41%

Strabag: The publicly listed construction and technology group Strabag SE has taken advantage of the favourable financing environment to refinance two loans totalling Euro 2.4 bn before their original maturity. The conditions and terms to maturity of the Euro 2.0 bn syndicated surety loan and the Euro 0.4 bn syndicated cash credit line have been redefined. The new five-year terms to maturity – i.e. until 2024 – with two options to extend by one year each will further allow Strabag to secure its comfortable financing position for the long term.
Strabag: weekly performance: 2.77%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (19/03/2019)

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1. MAYR-MELNHOF – Widerstand bei 84, fallende Highs, Abwärtstrend ???

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