Earnings per share more than quadrupled After nine months of 2007, profit before tax more than doubled to €126.1 million (9M/2006: €49.4 million). The 9M/2007 tax expense amounted to €46.5 million and corresponds to a tax ratio of 36.9 %. The German Corporation Tax Reform requires a revaluation of capitalized deferred tax assets and liabilities.
As a result a one time non-cash tax expense of €7.3 million was incurred in Q3/2007. Adjusted for this non-recurring effect, the tax rate for the reporting period amounted to 31.2 % (9M/2006: 37 % adjusted for the ECJ effect). Net profit after minority interests increased from €17.4 million in 9M/2006 to €79.4 million in 9M/2007. With an average number of shares of 63.5 million, earnings per share more than quadrupled to €1.25 (9M/2006: €0.28).
Further improvement in equity ratio and cash flow The balance sheet structure of the SGL Group improved significantly compared to December 31, 2006. The equity ratio rose from 35.3 % to 41.0 %. Net debt increased by €25.8 million to €254.9 million compared to end of 2006 particularly due to the payments related to the new financing.
The gearing also improved from 0.5 to 0.4 compared to the end of 2006. As a result of the excellent business performance, cash provided by operating activities (before antitrust payments) also rose considerably from €69.5 million to €103.8 million.
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
