Hansen Transmissions International NV has announced its Interim Management Statement for the 3 months ended 30 June 2010. Revenue amounted to € 107 million compared to € 136 million for the same period of the previous year.
The reported revenue decline of 21% was mainly due to a reallocation of scheduled deliveries in wind turbine gearboxes as Hansen worked with customers to manage their requirements in line with the current operating and credit environment. EBITDA was € 6.7 million and the EBITDA margin was 6.2%, up from 5.2% for the first quarter of the previous financial year. On 30 June 2010, the company had a net financial debt position of € 110 million, calculated as long-term and short-term financial debts minus cash and cash equivalents. Cash and cash equivalents as at 30 June 2010 were € 134 million. Hansen continues to expect revenue for the financial year 2011 to be back-end loaded. Against this backdrop, the company reiterated expected revenue growth for the full financial year 2011 of around 5 to 10%, compared to the financial year 2010.
The reported revenue decline of 21% was mainly due to a reallocation of scheduled deliveries in wind turbine gearboxes as Hansen worked with customers to manage their requirements in line with the current operating and credit environment. EBITDA was € 6.7 million and the EBITDA margin was 6.2%, up from 5.2% for the first quarter of the previous financial year. On 30 June 2010, the company had a net financial debt position of € 110 million, calculated as long-term and short-term financial debts minus cash and cash equivalents. Cash and cash equivalents as at 30 June 2010 were € 134 million. Hansen continues to expect revenue for the financial year 2011 to be back-end loaded. Against this backdrop, the company reiterated expected revenue growth for the full financial year 2011 of around 5 to 10%, compared to the financial year 2010.
