SHW AG announced group earnings results for the third quarter and nine months ended September 2016. For the quarter, the company reported sales of EUR 96.956 million against EUR 118.343 million a year ago. EBITDA adjusted was EUR 10.714 million against EUR 10.025 million a year ago. EBIT adjusted was EUR 4.567 million against EUR 4.064 million a year ago. Net income for the period was EUR 3.371 million against EUR 2.735 million a year ago.

For the nine months, the company reported sales of EUR 312.219 million against EUR 358.454 million a year ago. EBITDA adjusted was EUR 32.469 million against EUR 32.996 million a year ago. EBIT adjusted was EUR 14.126 million against EUR 16.540 million a year ago. Net income for the period was EUR 9.907 million against EUR 12.351 million a year ago. ROCE was 11.6% against 14.3% a year ago. Earnings per share came to EUR 1.54 against EUR 1.95 a year ago.

The company confirmed earnings guidance for the year 2016. The outlook for 2016 as a whole remains unchanged on the financial report for the first six months of the year as at 29 July 2016. Assuming a stable order situation, SHW AG expects group sales at the lower end of the EUR 410 million to EUR 430 million range for 2016. It is forecasting sales of between EUR 320 million and EUR 340 million in the Pumps and Engine Components business segment and sales of around EUR 90 million in the Brake Discs business segment (previous year EUR 98 million), taking into account the lower material surcharges. The company continues to expect a year-on-year improvement in the EBITDA margin and adjusted EBITDA at the lower end of the EUR 43 million to EUR 47 million range in 2016. In particular, this reflects the positive effects of the implementation of the efficiency-boosting measures to improve business process structures in both business segments.