SEG Immo AG

EANS-Adhoc: Zumtobel AG
The Zumtobel Group announces results for 2008/09

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annual report

29.06.2009

Dornbirn, 29 June 2009

The Zumtobel Group announces results for 2008/09:

@@start.t2@@. Group revenues decline 8.4% to EUR 1,174.0 million (FX-adjusted - 5.1%)
      . Adjusted EBIT reaches EUR 78.9 million (-35.8% / EBIT margin equals 6.7%)
      . Management and Supervisory Boards recommend suspension of dividend
      . Outlook: further deterioration in market environment expected;  efficiency
         improvement programme increased to EUR 100 million@@end@@

Dornbirn / Austria - Revenues recorded by the Zumtobel  Group  for   the  2008/09 financial year (1 May 2008 to 30  April  2009)  declined 8.4%  to  EUR  1,174.0 million (2007/08:  EUR  1,282.3  million).   After  an  adjustment  for  negative currency translation effects  of EUR 43.0 million,  Group  revenues  were  5.1% lower than in the previous year.

EBIT adjusted for special effects totalled EUR  78.9  million,  which is  35.8% below the comparable prior year level of EUR  123.0   million.  The  EBIT  margin reached 6.7% in 2008/09  after  an   adjustment  for  special  effects  (2007/08: 9.6%). Special effects amounted to EUR 21.9 million and were related  above  all to personnel and structural adjustments that were  implemented  in   reaction  to the global economic crisis. The early introduction of measures to  improve  cost efficiency reduced fixed costs by EUR 16.3 million during the second half-year.

Profit before tax fell by 66.7% to EUR 29.3 million and net profit for the  year declined to EUR 13.3 million (2007/08: EUR 93.5 million). For  the  shareholders of Zumtobel AG, earnings per share equalled EUR 0.53 (2007/08:  EUR  2.09).  The equity ratio fell to 43.3% in  comparison  with  the  level  on  30  April  2008 (46.5%). The  strategic  focus  on  liquidity  and  cash    flow    resulted     in satisfactory free cash flow of EUR 57.8  million  in  this   difficult  operating climate.

Against the backdrop of the unfavourable economic  environment,  the Management Board and Supervisory Board of Zumtobel AG will ask the Annual  General  Meeting on 24 July 2009 to approve the suspension of the dividend. These  two  corporate bodies believe  the  improvement of  the  company's  financial  power  has  top priority under the current circumstances.

The Management Board of the Zumtobel Group expects a  further   deterioration  in the  operating  environment  for  the  construction industry  and  assumes  the lighting industry will only reach the low point of  this  crisis  in  2010.  The 2009/2010 financial year is expected to bring further negative foreign  exchange effects with a corresponding unfavourable impact on revenues and earnings.

Since  all  current  economic    forecasts    are    connected    with     significant uncertainty, the Management Board does not  consider  it possible  to  issue  a reliable outlook for revenues and earnings at the  present  time.  Nevertheless, the Zumtobel Group is striving  to hold  free  cash  flow  in  2009/2010  at  a positive level even under these adverse economic  conditions.  In  view  of  the expected deterioration in the  market  environment,  the  Management  Board   has doubled the cost reduction targets  for  the  efficiency   improvement  programme implemented in the past year from the previous EUR 50 million to an upper  level of EUR 100 million by the end of 2010/11.

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ots Originaltext: SEG Immo AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Pressekontakt                                         Kontakt Investor Relations
Astrid Kühn-Ulrich                                 Harald Albrecht
Head of Corp. Communications                 Head of Investor Relations
Tel. +43-(0)5572 509-1570                      Tel. +43-(0)5572 509-1125
astrid.kuehn@zumtobel.com                      harald.albrecht@zumtobel.com

Branche: Technology
ISIN:      AT0000837307
WKN:        
Index:    WBI, ATX Prime, ATX
Börsen:  Wien / official market



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