Zumtobel: Earnings Doubled
The Austrian lighting company announced its results for the first nine months of 2010/11. EBIT rose by 66%.
Zumtobel reports rising sales as well as earnings: net earnings improved from € 21.3m to € 52.6m, EBIT increased from € 21.3m to € 52.6m. Sales grew by 10.2% up to € 980.9m. For 2010/11, Zumtobel expects sales beyond € 1.2bn. Sales of 2009/10 amounted to € 1.115bn. For the fourth quarter, the company expects slightly decreasing dynamics.
In the third quarter (November 2010 until January 2011), sales rose by 11.7%. Regarding LED-products, sales could even realize a growth rate of 74.5%. Sales in the new growth market in the first nine months accounted for € 67.3m (+37.2% in the first three quarters).
Zumtobel stated that the upswing returned after two and a half years. According to Zumtobel, this delay is due to the late business cycle in the lighting industry.
By the end of January, Zumtobel employed about 7630 workers, which is a surplus by 4.1% against the previous year.