Actual Outlook (as per 28.05.2010)
The EPS Processing business segment continued to show constant growth as the markets stabilized, indicating positive results as at June 30, 2010.
In the Technology business segment, positive trends for the operating result are also to be seen. The high delivery rate and rise in contribution margins for the machines would suggest positive developments for the fourth quarter. In addition, adjustments to the value of receivables and valuations of the inventories enabled appropriate provisions to be made for risks, which will ensure that future results are not compromised.
The search for investors in the two companies GGB-Global Green Built GmbH and Global Green Pallets GmbH was not successful, with the result that planned project sales could not yet be achieved. In an effort to move forward with the restructuring process, the HIRSCH Servo Group's Management and Supervisory Boards decided to reorganize the two project companies. The existing project investments will be spun off, the valuable assets (e.g. licenses and trademark rights, etc.) transferred to other group companies, and the production facilities used in the EPS sector. The project companies will be closed or merged.
Given that final restructuring measures are required and still have to be implemented, Management is assuming the results will be more negative than anticipated. Provisions for risks have however been made. The focus for the current fiscal year will continue to be on ensuring liquidity.
The HIRSCH Servo Group with its business segments and extensive product range has great potential for saving energy and is therefore strategically very well placed for the future.
Actual Outlook (as per 26.02.2010)
On the basis of the current moderate rise in demand and even if the global economy becomes more stable again, the Management is still anticipating slightly negative results for the 2009/10 fiscal year due to the restructuring costs. The focus for the current business year will primarily be on ensuring liquidity. To push the growth planned in the Logistics business segment, investors will be sought for the two companies GGB-Global Green Built GmbH and Global Green Pallets GmbH.
Once the measures in the restructuring concept have been implemented, the turnaround should also be achieved by 2010/11.
With its four business segments, EPS Packaging, EPS Insulation, Technology and Logistics, the HIRSCH Servo Group has great potential for saving energy and is therefore strategically very well placed for the future.
Actual Outlook (as per 25.11.2009)
On the basis of the current moderate rise in demand and even if the global economy becomes more stable again, the Management is still anticipating slightly negative results for the 2009/10 fiscal year due to the restructuring costs. The focus for the current business year will primarily be on ensuring liquidity. To push the growth planned in the Logistics business segment, investors will be sought for the two companies GGB-Global Green Built GmbH and Global Green Pallets GmbH.
Once the measures in the restructuring concept have been implemented, the turnaround should also be achieved by 2010/11.
With its four business segments, EPS Packaging, EPS Insulation, Technology and Logistics, the HIRSCH Servo Group has great potential for saving energy and is therefore strategically very well placed for the future.
Outlook (as per 29.05.2009)
Given the global economic downturn and customers' reluctance to buy as a result, the Management anticipates negative EBIT for the 2008/09 business year from today's perspective. They explicitly stated that the forecasts are subject to risks caused by the financial crisis, which can lead to the actual results differing from the predictions. Definitive developments up to June 30 and also for the coming fiscal year are difficult to predict because of the continuing generally difficult market conditions and the resultant postponement of a major project.
HIRSCH sees itself as a group of companies with four business segments, EPS Packaging, EPS Insulation, Technology and Logistics, which all have great potential for saving energy. They are also strategically well positioned internationally, making them well placed to ride out the recession.
In the medium term the innovations, particularly those in logistics, have huge potential for the future. There are for example excellent market opportunities worldwide for mobile manufacturing plants, especially in emerging markets. They are used to produce EPS formwork blocks locally for building ecological homes quickly and cost effectively (green housing). Similar growth potential is expected for transport pallets made of polystyrene which are lighter and easier to recycle, giving them significant ecological and logistic benefits over other pallets.
Outlook (as per 25.02.2009)
Given the global economic downturn and customers' reluctance to buy as a result, the Management has been forced to reduce the figure of 5.0 MEUR predicted for EBIT at the beginning of the current 2008/09 business year. They always explicitly stated that the forecasts are subject to risks caused by the financial crisis, which could lead to the actual results differing from the predictions. Developments up to June 30 are difficult to predict because of the continuing generally difficult market conditions and the resultant postponement of a major project. However, from today's perspective, the Management expects to post positive EBIT.
HIRSCH sees itself as a group of companies with four business segments, EPS Packaging, EPS Insulation, Technology and Logistics, which all have great potential for saving energy. They are also strategically well positioned internationally, making them well placed to ride out the recession.
Outlook (as per 25.11.2008)
From today's point of view , the management expects EBIT of 5.0 MEUR for the current fiscal year 2008/09 and consequently results that build on the performance already shown. Given the fact that meeting projected targets depends to a great extent on our project business, we wish to stress that on the basis of the information currently available we expect to deliver the forecasted results despite the effects of the financial crisis. However, in view of the global economic downturn, which in our opinion will affect all sectors of industry in the medium term and not therefore lead to any improvements in the market environment for the HIRSCH Servo Group, we cannot predict the actual course of business activities.
On the basis of our new and energy-saving products in the pipeline, such as the mobile satellite plants, pallet manufacturing facilities and a facade panel consisting of a shape-molded part, and our good strategic positioning in Eastern Europe, our Group with its four business segments (EPS Packaging, EPS Insulation, Technology, Logistics) has attractive potential for the future.
Outlook (as per 31.10.2008)
Management expects EBIT of 5.0 MEUR for the current fiscal year 2008/09 and consequently results that build on the performance already shown. Given the fact that meeting projected targets depends to a great extent on our project business, we wish to stress that on the basis of the information available we expect to deliver the forecasted results despite the financial crisis. However, in view of the uncertainty surrounding further global economic developments, we cannot predict the actual course of business activities. Provided that the global economic crisis does not prove worse than would currently appear, we expect new impetus from the project business with satellite plants and pallet plants to improve results in 2009/10.
Further details of the outlook are to be found on pages 38 and 39 of the 2007/08 Annual Report, which can also be downloaded from our website www.hirsch-gruppe.com.
Outlook (as per 30.05.2008)
A slightly negative profit on ordinary activities is anticipated for the full year, assuming that the payments for the project contracts are received as agreed. If there are delays in payments for all the projects in hand, the profit on ordinary activities could fall to minus 3 MEUR.
Regardless of the reporting date considerations at June 30, 2008, the HIRSCH Servo Group's growth process will be secured with innovative products. Not only is the EPS insulation market expanding due to the spiraling oil prices, but a new product with attractive growth potential is also to be rolled out in fall 2008. In the EPS Packaging division profitability should continue to rise in the coming business year with additional orders coming in and better capacity utilization as a result.
Machinery and Plant Engineering should receive the expected contract for a major project over the next few weeks, which will keep the Glanegg plant working to capacity for several months and improve profits.
Natural disasters and high oil prices have increased the demand for eco-friendly building materials, such as ICF systems. A new company is currently being set up, Global Green Built GmbH, that will sell mobile manufacturing facilities for them. A moderate increase is expected for this product group over 2007-08.
Since the pallet manufacturing facilities are now ready for volume production, marketing can start, which should be successful given the strong demand for plastic pallets. Once HIRSCH pallets have been approved in the United States, rapid market entry will also be aimed at there.
The management expects a substantial POA for the coming business year, building on the performance already shown. However, because of the strong dependence on projects it cannot be quantified in more detail.
As insulation activities are developing extremely well, the viability of building a second plant in Romania is currently being examined.