Drees & Sommer increases net income despite economic crisis

At EUR146.5 million, Drees & Sommer AG group sales were up slightly on prior year. As a result of market focus, the operating result was increased by EUR0.8 million to EUR13.2 million. The positive trend in 2010 is attributable both to a slight improvement in the market environment and to a range of services tailored to national and international clients. International business now accounts for nearly 30 percent of total sales.

The balance sheet total for 2010 is EUR70.8 million (prior year EUR104.0 million). The reduction is largely attributable to the passing of the (German) Accounting Law Modernisation Act (BilMoG). Net income totaled EUR7.7 million, consolidated net profits EUR7.2 million.

With subscribed capital, capital reserves and revenue reserves, the transfer of the balance sheet profit of EUR7.2 million results in equity of EUR22.8 million. The equity ratio is 32 percent.

The 2010 operating result was achieved by 1,125 employees at 32 locations in the partner-managed company. This underscores the success of the strategy of systematically expanding innovation leadership in the areas of sustainable and economical construction combined with strong interaction between the broad range of services offered. The company's international presence has been further strengthened by the Drees & Sommer Nordic: Located in the Danish capital Copenhagen, the subsidiary will further develop business in Scandinavia and the Baltic region.

Outlook for 2011: Aiming for continued growth
Drees & Sommer expects to achieve continued moderate growth in fiscal 2011. "In addition to new construction for the pharmaceutical, health care, automotive and industrial sectors, we will achieve this primarily through optimization of established buildings. The focus here is on the numerous industrial and commercial properties that have to be rehabilitated to remain competitive," explains Peter Tzeschlock, Member of the Executive Board of Drees & Sommer AG.

The company also sees potential in the area of electricity generation, storage and distribution in coming years. "We have been successfully engaged in green building - and thus in the reduction of energy consumption and carbon emissions - for decades. This will have a positive impact in fiscal 2011," according to Dierk Mutschler, Member of the Executive Board of Drees & Sommer AG.

In addition to energy optimization of buildings and entire property portfolios, Drees & Sommer sees opportunities in the further expansion of the electricity grid. The combination of in-house competencies and networking of these in the areas of commercial and technical & economic consulting, project management and engineering means that Drees & Sommer offers holistic expertise in the area of sustainability that addresses both economy and ecology.

For more information, see the annual balance sheet 2010.

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