Last checked at 25 Apr 2014 13:00
Moscow, April 25, 2014
HMS Hydraulic Machines & Systems Group plc
(the “Company”, and together with its subsidiaries, the “HMS Group”)
HMS GROUP 1Q 2014 ORDER INTAKE
Moscow, Russia, HMS Group (LSE: HMSG), the leading pump and compressor manufacturer as well as provider of flow control solutions and related services in Russia and the CIS , today releases its order intake for first quarter 2014.
1Q 2014 HIGHLIGHTS:
Total order intake for 1Q 2014 decreased by 12% y-o-y to Rub 6.7bn, In industrial pumps business segment order intake totaled Rub 4.1bn, up 24% y-o-y Oil & gas business segment order intake increased its order intake by 18% y-o-y to Rub 2.1bn In compressor business segment order intake contracted by 79% y-o-y to Rub 0.3bn In EPC business segment order intake decreased by 82% to Rub 0.2bnOrder intake for 1Q 2014
(Rub, mn)
| Industrial pumps | 4,128 | 3,324 | 24% | ||||
| Oil & gas equipment | 2,099 | 1,775 | 18% | ||||
| Compressors | 263 | 1,265 | -79% | ||||
| EPC¹ | 202 | 1,215 | -83% | ||||
| Construction¹ | 0 | 102 | -100% | ||||
| Project and design | 202 | 1,114 | -82% | ||||
| TOTAL¹ ² | 6,692 | 7,579 | -12% |
¹Excl. construction subsidiary SKMN due to its disposal in December 2013
²Totals may differ from the sum of numbers as a result of rounding
The order intake in the amount of Rub 6.7bn was built exclusively by small and medium-sized contracts signed during the first quarter 2014.
The Group’s key business segments – the industrial pumps and oil & gas equipment - showed a stable growth of orders by 24% and 18% year-on-year respectively.
Negative dynamics in portfolio of orders in the compressor business segment was attributable to the high base of the previous period – in the first quarter 2013 Kazankompressormash (KKM) signed a Rub 1.2bn contract with Lenniikhimmash on delivery of a large order of compressor equipment. Excluding this material contract, the order intake in the compressor business segment grew by 484%.
Lack of orders for the construction sub-segment resulted from the Group’s intension to dispose its oil and gas construction business. HMS Group is no longer focused on obtaining new contracts for its construction subsidiary Tomskgazstroy (TGS).
Decline of the order intake in the project and design sub-segment in the first quarter 2014 comparing with the corresponding period of last year is a result of high quarter volatility of business and it does not provide an objective picture of the segment’s performance.
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HMS Group is the leading pump and compressor manufacturer, as well as provider of flow control solutions and related services to the oil and gas, nuclear and thermal power generation and water utilities sectors in Russia and the CIS. HMS Group’s products are mission-critical elements of projects across a diverse range of industries. It has participated in a number of large-scale infrastructure projects in Russia, including providing pumps and modular equipment to the Vankor oil field and pumping stations on recent trunk pipelines projects linking Russia’s core oil producing areas to export ports on the Pacific Ocean and Baltic Sea. HMS Group’s global depositary receipts (“GDRs”) are listed under the symbol “HMSG” on the London Stock Exchange.
For further information, please contact:
| Vera TimoshenkoHead of Investor RelationsTel: +7 (495) 730-66-01 x 1302ir@hms.ru | Nozima KarimovaHead of Press ServiceTel: +7 (495) 730-66-10karimova@hms.ru |
Disclaimer
The information contained herein has been prepared using information available to HMS Hydraulic Machines & Systems Group Plc (“HMS Group” or “HMS” or “Group” or “Company”) at the time of preparation of the presentation. External or other factors may have impacted on the business of HMS Group and the content of this presentation, since its preparation. In addition all relevant information about HMS Group may not be included in this presentation. No representation or warranty, expressed or implied, is made as to the accuracy, completeness or reliability of the information.
Any forward looking information herein has been prepared on the basis of a number of assumptions which may prove to be incorrect. Forward looking statements, by the nature, involve risk and uncertainty and HMS Group cautions that actual results may differ materially from those expressed or implied in such statements. Reference should be made to the most recent Annual Report for a description of the major risk factors. This presentation should not be relied upon as a recommendation or forecast by HMS Group, which does not undertake an obligation to release any revision to these statements.
This presentation does not constitute or form part of any advertisement of securities, any offer or invitation to sell or issue or any solicitation of any offer to purchase or subscribe for, any shares in HMS Group, nor shall it or any part of it nor the fact of its presentation or distribution form the basis of, or be relied on in connection with, any contract or investment decision.
Copyright Business Wire 2014