A-TEC Industries AG

euro adhoc: A-TEC Industries AG
quarterly or semiannual financial statement / A-TEC INDUSTRIES unveils results for first quarter of 2007

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14.05.2007

A-TEC INDUSTRIES unveils results for first quarter of 2007

Following record results for 2006, Vienna listed and based A-TEC   Industries  AG (ISIN AT00000ATEC9) put in another positive performance in the first quarter  of 2007.  The  industrial  group   returned  marked  year-on-year  improvements    in revenue, earnings and order intake for the period. Meanwhile  an  agreement  for the full acquisition of a major manufacturer of semi-finished  copper   products, Gindre Duchavany  during  the  quarter  marked  another   milestone  for  A-TEC's strategy of complementary acquisitions.

Sharp improvements in revenue and earnings

First-quarter revenue climbed by 50.4% year on year to EUR  452.7   million  (m). The underlying figure, excluding acquisitions, progressed by about 28%,  to  EUR 386.5m, driven by the favourable trading environment  in  A-TEC's  core  markets and high world commodity prices.

The Plant  Construction  Division  contributed  41  %,  the  Drive   Technologies Division 23%, the Mechanical Engineering Division  7%   and  the  Metal  Industry Division 29% of consolidated revenue.

The strong revenue performance was accompanied by improvements in   key  earnings indicators.  Earnings  before  interest,  tax,   depreciation  and    amortisation (EBITDA)  almost  doubled  to  EUR   22.3m  (Q1  2006:  11.2m).  Even  with    the acquisitions stripped out EDBITDA growth  was  an  impressive  73%,  taking  the adjusted quarterly figure  to  EUR  19.3m.  The  Plant  Construction  and   Drive Technologies divisions were chiefly responsible for this sharp rise.

Earnings before income and tax (EBIT) grew more than twofold to reach EUR  13.3m (Q1 2006: EUR 6.4m), while like-for-like EBIT  was  up  by about  106%  to  EUR 13.2m.

Earnings before tax (EBT)  also  soared  -  by  147.3%  to  EUR 7.6m (Q1  2006: EUR 3.1m). Profit for the period before minority interests increased  by  79.2% to EUR 4.1m, and earnings per share were EUR 0.60.

Record order intake and backlog

These highly satisfactory results reflected robust volume growth across all  the group's divisions - particularly Plant Construction. The A-TEC Group  registered a 54.1% year-on-year increase in order intake to EUR  478.4m.  As  at  31  March 2007 order backlog was a record EUR 1.7 billion (bn) -  about  110%  up  on  the previous year's comparative figure of EUR 0.8bn. The  surge  in  order   bookings will mean that the group continues to enjoy good revenue visibility  and  strong capacity utilisation.

Strong showing from all four divisions

All A-TEC's four  sub-groups  -  Austrian  Energy  &  Environment,   ATB  Austria Antriebstechnik, Montanwerke Brixlegg and  EMCO  -   contributed  to  the  strong performance posted by the international industrial group.

The Plant Construction Division (AE&E Group) was  particularly  quick off  the blocks at the start of  the  new  financial  year,  picking up  major  foreign contract wins that buoyed order intake to EUR 294.1m, compared to EUR 199.8m in the first quarter of 2006. The division's order backlog as at 31 March 2007 was at an all-time high of almost EUR 1.6bn. Revenue almost doubled year  on  year, advancing by EUR 90.6m to EUR 187.1m.

Following last year's launch of restructuring and consolidation programmes, and action to integrate new subsidiaries,  the  Drive   Technologies  Division  (ATB Group) likewise posted big increases in order  intake  and  backlog.  Incoming orders jumped by about 86% to EUR 128.1m (Q1 2006: 68.8m),  while  order  books expanded to EUR 102.3m as of 31 March 2007 - more than twice  as  high  as  the figure at the end of the like period of 2006. Further gains  in   market  shares boosted the division's consolidated revenue by 69.2% to EUR 103.5m.

In the first quarter of 2007 the Mechanical Engineering  Division   (EMCO  Group) returned a 34.5% year-on-year increase in  order   intake  to  EUR  56.2m.  Order backlog was EUR 66.8m at the end of the quarter, for a gain of some 63%  on  the comparative figure for the previous year. Divisional revenue decreased  by  5.1% to EUR 31.6m, mainly as a result of the strength of the  euro  and  a  shift in customer demand towards high margin, low volume products.

During the quarter A-TEC succeeded in rounding out the product portfolio of  the Metal Industry Division by acquiring one of Europe's  leading  manufacturers  of copper semi-finished products,   and  electrical  parts  and  components,  Gindre Duchavany, subject   to  clearance  by  the  competition  authorities  concerned. Continued strong world copper demand and resultant escalating   prices,  combined with increased volume raised the division's revenue by 18.3% to EUR 130.4m.

Outlook

Management sees organic growth running at about  30%,  meaning  that the  A-TEC Industries Group is on course to set a new revenue record of some EUR 2.1bn  for the year as a whole (excluding any future acquisitions). On  the  basis  of  its growth forecast the A-TEC Management Board is targeting  a  further  improvement in earnings, and expects the EBIT margin for 2007 to come in between 5.0-5.5%.

A-TEC constantly monitors potential acquisition targets that are a   good  match for existing operations and could contribute to growth.

Disclaimer

This announcement contains forward  looking  statements  which  are   subject  to risks  and  uncertainties.  These  statements    employ     expressions    such    as "believes", "is of the opinion that", "assumes", "plans" and "anticipates",  and reflect management's views and expectations.  These forward  looking  statements are made subject to certain risks and uncertainties, which  could  cause   actual results to differ materially from  those  presented  in  these forward  looking statements. Readers are cautioned not to place undue reliance on  these  forward looking statements. This announcement should not be construed as legal,  tax  or investment advice.

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ots Originaltext: A-TEC Industries AG
Im Internet recherchierbar: http://www.presseportal.ch

Further inquiry note:
Pressestelle A-TEC Industries AG
Mag. Claudia Müller-Stralz
Pleon Publico Public Relations & Lobbying
Tel: +43-1-71786-107
E-Mail: claudia.mueller@pleon-publico.at

Branche: Holding companies
ISIN:      AT00000ATEC9
WKN:        
Index:    ATX Prime
Börsen:  Wiener Börse AG / regulated dealing/prime standard



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