August 1, 2014
The remanufacturer reported increases across the board for the first half of the financial year.
The company reported (German only) that both turnover and operating profit figures for the first half of 2014 “are in line with our expectations and confirm the positive […] trend” after its two acquisitions in the last year, of ILG in December 2013 and Clarity in September 2013.
It noted that its results in 2013 were “formed in the course of further ongoing contract negotiations” in relation to the two acquisitions, with group sales for the first half of the year reaching €53.3 million ($71.3 million), in comparison to last year’s half yearly sales of €37.4 million ($50 million). In turn, sales had increased in the first quarter of the year alone by €1.7 million ($2.2 million).
Additionally, earnings before interest and taxes (EBIT) for the half year came to €5.6 million ($7.4 million), in comparison to last year’s €2.9 million ($3.8 million), with income before taxes reaching €5.2 million ($6.9 million) compared to 2013’s €2.2 million ($2.9 million). Finally, consolidated net income amounted to €3.7 million ($4.9 million), a growth on 2013’s €1.4 million ($1.8 million).
Turbon commented that “based on the current information”, it is adapting its outlook for the full year to expect “consolidated sales” of over €105 million ($140 million), as well as profit before tax of at least €8.5 million ($11.3 million). The company had reported a 33 percent rise in sales in May earlier this year, and recently announced its partnership with Embatex in Europe.
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