DGAP-Information: INDUS Holding AG / Key phrase(s): Annual Report/Funding 
INDUS Holding AG: INDUS acquires hidden champion in rising development business 
2021-03-23 / 07:43 
The issuer is solely chargeable for the content material of this announcement. 
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INDUS acquires hidden champion in rising development business 
  . Stable monetary yr 2020 in keeping with expectations 
  . Proposed dividend of EUR 0.80 at prior yr stage 
  . Noticeable restoration anticipated in transition yr 2021; good begin to the yr 
Bergisch Gladbach, 23 March 2021 - INDUS Holding AG, a German exchange-listed firm, will purchase 70 % of the 
shares in WIRUS Fenster GmbH & Co. KG (WIRUS) headquartered in Rietberg-Mastholte within the district of Gütersloh. 
Using some 245 individuals, the extremely worthwhile window producer generated gross sales revenues of approx. EUR 56 million 
in 2020. The WIRUS product vary includes plastic and aluminum home windows, sliding, entrance and aspect entrance doorways as effectively 
as privateness shields and solar safety techniques. Following the newest acquisitions of JST and WIRUS, INDUS now has 48 
investments in its portfolio. 
"The final situations for enticing acquisitions have improved noticeably," says Dr. Johannes Schmidt, Chairman of 
the Board of Administration of the INDUS Group. "By making the second acquisition throughout the previous 4 months, we clearly 
underline our development ambitions." WIRUS enhances the INDUS portfolio within the Development/Infrastructure phase. 
There's nonetheless good potential for development within the development business. "With an above-average stage of digitalization 
in gross sales, manufacturing and logistics in addition to sturdy development, WIRUS embodies the hidden champion we're on the lookout for in 
our portfolio," says Dr. Schmidt. "Lean manufacturing, just-in-time supply with out intermediate storage and the 
networking of the entire provide chain by way of the ERP system make the group of WIRUS so environment friendly." Christoph 
Ruoff, Managing Director and principal proprietor since 2002, will keep on the firm's helm as Managing Director. The 
Ruoff household will proceed to carry 30 % of the shares in WIRUS. The acquisition is topic to approval by the 
antitrust authorities. 
Stable enterprise efficiency in FY 2020 because of broad-based portfolio 
Within the monetary yr 2020, INDUS Holding AG generated gross sales of EUR 1.56 billion (earlier yr: EUR 1.74 billion) and 
thus achieved its forecast (EUR 1.45 billion - EUR 1.6 billion) confirmed within the interim report for the third quarter 
of 2020 despite the sharp drop attributable to the coronavirus disaster. In opposition to the background of the COVID-19 pandemic 
and the structural transformation within the automotive business, earnings earlier than curiosity and taxes (EBIT) stood at EUR 
25.1 million (earlier yr EUR 117.9 million). The EBIT margin was 1.6% (earlier yr 6.8%). Non-cash impairment 
losses on goodwill, property, plant and tools and intangible belongings totaling EUR 40.6 million had been acknowledged in 
the INDUS Group's revenue/loss already within the second and third quarters. The EBIT margin earlier than impairment losses stood 
at 4.2% (earlier yr 7.8%). 
Earnings earlier than taxes (EBT) got here in at EUR 9.6 million (earlier yr EUR 99.0 million). Earnings after taxes amounted 
to EUR -26.9 million (earlier yr EUR 60.1 million). 
Complete belongings stood at EUR 1.73 billion on the reporting date, and had been thus beneath the prior yr stage (EUR 1.81 
billion) attributable to impairment losses, a intentionally restrictive funding coverage within the COVID-19 yr in addition to energetic 
working capital administration. With fairness at EUR 676.4 million (earlier yr EUR 727.7 million), the fairness ratio 
reached 39.1%, which was solely barely decrease than within the earlier yr (40.2%). Internet debt amounted to EUR 518.9 million 
on the finish of the yr (earlier yr EUR 546.2 million). The compensation time period (internet debt/EBITDA) is 3.3 years (earlier 
yr 2.4 years), whereas gearing (internet debt/fairness) is 77% (earlier yr 75%). "INDUS was capable of keep excessive money circulate 
and secure steadiness sheet ratios even within the troublesome monetary yr 2020," says Rudolf Weichert, Chief Monetary 
Officer of INDUS. "That is additionally the results of the measures outlined within the PARKOUR technique program geared toward growing 
monetary excellence." 
Investments within the complete quantity of EUR 53.5 million (earlier yr EUR 107.5 million) targeted on the selective 
enchancment of value-added processes via investments in property, plant and tools (EUR 44.1 million). An quantity 
of EUR 8.4 million was invested in intangible belongings similar to new ERP techniques. 
Development/Infrastructure phase once more posts document outcomes; efficiency of different segments impeded by COVID-19 
The INDUS portfolio comprised 46 corporations as of the reporting date. Unimpressed by the coronavirus disaster, the EBIT 
margin in probably the most worthwhile phase, Development/Infrastructure, reached a brand new excessive of 16.8% in 2020. Against this, 
the Automotive Know-how phase's gross sales and incomes had been adversely affected by sturdy results of the coronavirus 
pandemic and the structural transformation of the automotive business. Within the context of the INTERIM SPRINT program, 
one direct funding and one sub-subsidiary had been offered. The repositioning workout routines of the 2 largest sequence suppliers 
proceed to proceed in keeping with plan; new contracts have been received, additionally within the essential e-mobility phase. Whereas 
portfolio corporations within the Engineering phase held up effectively through the disaster, they had been unable to completely offset the 
COVID-related market stoop within the second quarter though the market began to get better within the fall. The Medical 
Engineering / Life Science phase additionally felt the consequences of the 2 lockdowns on gross sales and earnings. The Metals 
Know-how phase, which now generates the best gross sales revenues of all segments, suffered solely slight losses in 2020 
as worldwide gross sales of carbide merchandise picked up. The measures taken within the context of the shutdown of BACHER AG 
lowered the phase's working end result. The shutdown might be accomplished by mid-2021. 
Excessive working money circulate secures liquidity additionally in instances of disaster 
Working money circulate prior to now monetary yr elevated to EUR 174.4 million (earlier yr EUR 167.7 million). This 
is primarily attributable to the truth that working capital declined noticeably by approx. EUR 64 million because of the 
discount in inventories. The corporate intentionally constructed up a liquidity buffer in 2020 as a precaution in opposition to the 
potential results of the coronavirus pandemic. Money and money equivalents totaled EUR 194.7 million as of the reporting 
date (earlier yr EUR 135.1 million). The INDUS Group used a part of these fund to finance the acquisition of management 
room specialist JST in January 2021. 
Divided at prior yr stage 
In opposition to the background of the sturdy money circulate and the improved outlook for the monetary yr 2021, the Board of 
Administration and the Supervisory Board will suggest a dividend on the prior yr stage of EUR 0.80 per share to the 
Annual Shareholders' Assembly on 26 Could 2021. Because of this round 55% of INDUS Holding AG's distributable revenue will 
be paid out. The dividend proposal takes into consideration the forecast for 2021 and thus a major enchancment of the 
monetary place in contrast with the earlier yr. 
Outlook on 2021: Noticeable restoration whereas uncertainty stays excessive 
"2021 might be a yr of transition for the INDUS Group - with the enhancing macroeconomic pattern and the consequences of the 
INTERIM SPRINT set of measures offering tailwind for our portfolio corporations," says Dr. Johannes Schmidt, Chairman of 
the INDUS Board of Administration. "We goal to additional improve the efficiency of our portfolio corporations in 2021 with the 
assist of our PARKOUR technique program. Apart from the core factors of this system, "Strengthen the portfolio construction", 
"Promote innovation" and "Enhance efficiency", we'll place a fair stronger deal with selling sustainable 
operation in all INDUS corporations." 
Given the general setting, the forecast for the monetary yr 2021 remains to be topic to uncertainty. In view of the 
good begin in January and February 2021, the Board of Administration initiatives gross sales of between EUR 1.55 billion and EUR 
1.70 billion and a return to obviously larger earnings earlier than curiosity and taxes (EBIT) of EUR 95 billion to EUR 110 
billion. This forecast doesn't keep in mind new acquisitions on the first and second tier. "The latest 
acquisitions of JST and WIRUS present that the M&A market is choosing up once more and affords additional enticing targets for 
our Group," says Dr. Johannes Schmidt. 
Click on right here for the total Annual Report of INDUS Holding AG. An outline of the important thing efficiency indicators is obtainable 
right here. 
Contact: 
Nina Wolf, Jana Külschbach & Dafne Sanac 
Public Relations & Investor Relations 
INDUS Holding AG 
Kölner Straße 32 
51429 Bergisch Gladbach 
Germany 
Tel +49 (0) 022 04 / 40 00-73, -35 
Tel +49 (0) 022 04 / 40 00-32 
E-mail [email protected] 
E-mail [email protected] 
www.indus.de 
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2021-03-23 Dissemination of a Company Information, transmitted by DGAP - a service of EQS Group AG. 
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Language:     English 
Firm:      INDUS Holding AG 
              Kölner Straße 32 
              51429 Bergisch Gladbach 
              Germany 
Telephone:        +49 (0)2204 40 00-0 
Fax:          +49 (0)2204 40 00-20 
E-mail:       [email protected] 
Web:     www.indus.de 
ISIN:         DE0006200108 
WKN:          620010 
Indices:      SDAX 

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March 23, 2021 at 2:45 am ET (6:45 am GMT)