HONG KONG, Aug. 16, 2013 /PRNewswire/ --
| Key figures of DKSH (in CHF millions) |
H1 2013 | H1 2012* | Change |
| Net sales | 4,754.5 | 4,160.0 | 14.3% |
| Operating profit (EBIT) | 142.8 | 125.9 | 13.4% |
| Profit after tax | 104.9 | 80.2 | 30.8% |
| Free cash flow | 170.8 | 50.8 | 236.2% |
| Earnings per share (in CHF) | 1.60 | 1.23 | 30.1% |
| Specialists (end of June 2013 and December 2012) |
26,263 | 25,882 | 1.5% |
*2012 restated to reflect the adoption of IFRS 11 and IAS 19 revised
DKSH (SIX: DKSH), the leading Market Expansion Services provider with a focus on Asia, reported today another successful half-year 2013. Publicly listed on the SIX Swiss Exchange since March 20, 2012, DKSH achieved net sales and profit after tax growth of 14.3% and 30.8%, respectively, compared to the first half 2012.
Again, DKSH exceeded the projected long-term growth rate of 8.3% of its addressable Market Expansion Services industry, confirming further market share gains.
95% of net sales growth were achieved organically, i.e. excluding M&A activity.
Earnings before interest and taxes (EBIT) increased by 13.4% (+CHF 16.9 million) to CHF 142.8 million, despite the strong depreciation of the Japanese Yen.
Free cash flow increased by 236.2% to CHF 170.8 million, which is extraordinary in light of the strong sales growth of CHF 594.5 million in the first half of 2013.
Dr. Joerg Wolle, President & CEO of DKSH, commented: "Thanks to the consistent implementation of our strategy for sustainable profitable growth we have been able to achieve very positive results also in the first half of 2013. With an organic growth significantly above the market we have once again increased our market share and continued our course of success in the first six months of the year."
DKSH's strategy for sustainable profitable growth is centered on growing organically, through expanding business with existing clients, multiplying success stories from country to country, and new business development, complemented by strategic bolt-on acquisitions. At the same time, DKSH is continuously strengthening the service offering and increasing the efficiency and performance of its business processes.
Strategic acquisition in Indonesia
This week, DKSH signed an agreement to acquire PT Primatek Technologies, a well-established Indonesian distributor of capital investment goods, with Swiss origin. This acquisition will provide DKSH with a solid basis for the market entry in Indonesia with its Business Unit Technology. DKSH thereby expands its existing presence with Business Unit Performance Materials in one of the fastest-growing markets in ASEAN.
With this move, DKSH is driving forward the ongoing consolidation of the rapidly growing, yet highly fragmented Market Expansion Services industry.
More than 26,000 employees
People are DKSH's most important asset and the company continues to invest in the skills and training of its employees. By June 30, 2013, DKSH employed 26,263 specialists worldwide, representing an increase of 381 people or 1.5% vs. year-end 2012.
Somboon Prasitjutrakul, Head of Business Unit Consumer Goods and one of DKSH's longest-serving Members of Group Management will go into retirement at the end of 2013. Dr. Joerg Wolle, President & CEO of DKSH, comments: "The Board of Directors and the Group Management would like to sincerely thank Somboon Prasitjutrakul for his valuable contribution over two decades and wish him all the best for the future." The succession plan will be communicated in detail at a later stage.
Outlook for 2013 remains positive
In spite of more and more negative comments and the proliferation of economic news about a less positive development with slower growth in emerging markets, DKSH expects its main markets to perform favorably. This growth is driven by the rising middle class in Asia, increasing trade flows to and within Asia and the trend for companies to outsource non-core activities. From today's perspective the company is optimistic that 2013 will be another record year with double-digit profitable growth, whereby sales are expected to grow at least in line with the addressable market.
Analyst and investor webcast
Recording will be available at
http://www.dksh.com/htm/1453/en/Presentations.htm.
Half-Year Report
The Half-Year Report 2013 report is available for download at http://www.dksh.com/htm/1450/en/Reports-and-presentations.htm.
About DKSH Group
DKSH is the leading Market Expansion Services provider with a focus on Asia. As the term "Market Expansion Services" suggests, DKSH helps other companies and brands to grow their business in new or existing markets.
Publicly listed on the SIX Swiss Exchange since March 2012, DKSH is a global company headquartered in Zurich. With 680 business locations in 35 countries -- 660 of them in Asia -- and 25,900 specialized staff, DKSH generated net sales of CHF 8.8 billion in 2012.
The company offers a tailor-made, integrated portfolio of sourcing, marketing, sales, distribution, and after-sales services. It provides business partners with expertise as well as on-the-ground logistics based on a comprehensive network of unique size and depth. Business activities are organized into four specialized Business Units that mirror DKSH fields of expertise: Consumer Goods, Healthcare, Performance Materials, and Technology.
With strong Swiss heritage, the company has nearly a 150-year-long tradition of doing business in and with Asia, and is deeply rooted in communities and businesses across Asia Pacific.
For further information please contact:
DKSH Holding Ltd.
Gilgian Eisner
Head Investor & Media Relations
Phone +41-44-386-7298
gilgian.eisner@dksh.com