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Vanderlande Industries reports strong increase in growth


Vanderlande Industries (automated material handling systems), achieved net sales of EUR 436 million in the financial year ending 31 March 2006, an increase of 31% over the preceding year

Veghel - Net income more than doubled to EUR 14.1 million from last years EUR 6.6 million, while order intake increased by 12% to EUR 402 million. The company expects further increases in net sales and net income in the coming financial year 2006/2007.

The number of employees, which rose by 144 (12%) to 1 345 in the past year, will continue to increase in the year ahead.

Peter Gerretse, President and CEO of Vanderlande Industries, commenting on these results:
We can look back on an extremely strong year with a 12% growth in order intake, net sales 31% higher and a more than doubled result. We have been successful in all business areas. For example in the market for distribution systems we have gained important orders including one from the fashion retail chain Next in the UK. Orders for a number of projects, both large and small, were again won in baggage handling.

In addition, we are proud of the progress that has been made in very large projects including the new Terminal 5 at London Heathrow. Work on this project is proceeding on schedule, and we are now carrying out the commissioning and testing of the system.

These developments underline the global leadership position of Vanderlande Industries. We expect growth to continue in the coming financial year 2006/2007.

Growth in all business areas
Vanderlande Industries booked new orders worth EUR 402 million compared with EUR 358 million in the preceding year, an increase of 12%. This success was achieved partly because of the continuing growth in the market for baggage handling systems, for which the Company is among the top 3 suppliers worldwide. Various orders were received from countries including Russia and Turkey, as well as for airports like Cairo, Vancouver and Hyderabad. Also additional orders were received from Amsterdam Airport Schiphol as part of a long-term partnership agreement.

The increase in orders received was also attributable to higher sales of maintenance and services. The renewed growth in the market for sorting systems for express parcel services also contributed to the increase.

Even though the European market for distribution systems remained difficult, the Company was able to win a number of substantial orders, including a major project for the fashion chain Next Ltd. in the UK.

Strong profit increase
Net sales increased by 31% to EUR 436 million (EUR 332 million in the preceding year). An important contribution to this increase was made by the Heathrow Terminal 5 project, one of the worlds largest baggage handling systems.

Operating profit (EBIT) increased to EUR 24.0 million from EUR 10.4 million last financial year due to growth in net sales and as a result of process improvement initiatives.

Net income last year was influenced by an exceptional item, resulting in a net income of EUR 1.4 million. Excluding this exceptional item, net income increased by 113% from EUR 6.6 million to EUR 14.1 million.

The order book declined from EUR 635 million to EUR 601 million as a result of the progress on the BAA contract for Heathrow Terminal 5. Excluding this contract the order book increased by 27% to EUR 499 million (last year EUR 393 million).

Excellent outlook
Based on the expected market growth, the continuing investments in R&D and the above-industry-average order book, the Company expects a further increase in net sales and net income in the coming financial year.

Profile of Vanderlande Industries
Vanderlande Industries provides automated material handling systems and accompanying services. It focuses on improving its customers business processes and strengthening their competitive position.

The Company is active in the markets for Baggage Handling at airports, Distribution Centres and Express Parcel sortation facilities.

The Company implements material handling systems of all sizes, ranging from many local sorting depots, airports and distribution centres to the worlds largest facilities. The company ranks among the top 5 worldwide in its field, and in baggage handling is even among the top 3.

In every case the emphasis is on close partnership with the customer, extending from initial analysis of the underlying business processes through to total life-cycle support.
To achieve this, the Company possesses core competences in all the relevant disciplines, ranging from system design and engineering, through supply chain management and manufacturing, to information and communication technology, system integration, project management and customer services. The company employs 1 345 people of whom more than 50% have a higher vocational (HBO) or graduate (WO) education.

Vanderlande Industries is a global player with a presence in all key regions of the world. The company has subsidiaries in the Netherlands, Belgium, Germany, France, Great Britain, Spain, PR China, South Africa and the USA. These Customer Centres handle all key business functions and maintain direct contacts with customers.

For more information
Vanderlande Industries

P. Gerretse
President and CEO
Tel: +31 (413) 38 55 54

E. Boudewijn
Managing Director and CFO
Tel: +31 (413) 38 52 02

F. van Duren
Manager Corporate Communications
Tel: +31 (413) 38 54 29

Appendix: Principal financial data of Vanderlande Industries

Principal financial data of Vanderlande Industries
(in millions of EUR)

  • Financial year 2006/2005 2005/2004 2004/2003
  • Order intake 402.0 358.4 329.8
  • Net sales 436.3 332.3 264.7
  • Order book (at 31 March) 600.8 635.1 609.0
  • Operating profit (EBIT) 24.0 10.4 13.0
  • Net income excluding exceptional item 14.1 6.6 7.3
  • Net income 14.1 1.4 7.3
  • Depreciation 5.2 4.6 4.5
  • Cash flow 19.3 6.0 11.8
  • Capital investments 6.7 7.6 5.5
  • Dividend(1) 3.9 - 1.8
  • Balance sheet data at 31 March 2006 2005 2004
  • Assets
  • Fixed assets 34.6 33.2 30.3
  • Current assets 123.9 112.3 106.7
  • Total 158.5 145.5 137.0
  • Equity and liabilities
  • Group equity 51.1 48.7 52.2
  • Provisions 8.9 6.3 6.1
  • Short-term debts 98.5 90.5 78.7
  • Total 158.5 145.5 137.0

(1) Dividend on ordinary shares

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