A-TEC Industries AG

EANS-Adhoc: A-TEC Industries AG
Financial report Q1-Q3 2009

-------------------------------------------------------------------------------- ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. -------------------------------------------------------------------------------- 9-month report 10.11.2009 Highlights: - Order backlog down again at EUR 2.4 billion (bn) as of 30 September 2009 (30 June 2009: EUR 2.7bn), due to low order intake, particularly in the Plant Construction Division (the comparative period was marked by an unusually large number of major contracts in the division). - Revenue for the first nine months down by 10.4% year on year to EUR 2,138.1 million (m) due to lower copper prices and declining investment as a result of the economic crisis. - EBITDA up by 20.1% to EUR 134.3m (Q1-Q3 2008: EUR 111.8m), due to a strong performance from the Minerals & Metals Division and rapid execution of cost reduction programmes across all divisions. - Group EBIT up by 28.3% to EUR 97.4m in Q1-Q3 2009 (Q1-Q3 2008: EUR 75.9m). Q3 EBIT surged by 187.5% year on year to EUR 27.6m (Q3 2008: EUR 9.6m). EBIT margin for first three quarters 4.6% (Q1-Q3 2008: 3.2%). - Net finance costs down to EUR 11.7m in the third quarter due to lower borrowings and interest rates (Q3 2008: EUR 16.2m). Increase in Q1-Q3 reflects the positive one-off effects of the disposal of the interests in copper companies Cumerio SA and Norddeutsche Affinerie AG in 2008. - Earnings before tax (EBT) up by 4.3% in the first three quarters to EUR 58.8m (Q1-Q3 2008: EUR 56.4m). - Consolidated profit for Q1-Q3 2009 down by 3.8% to EUR 35.6m. Q3 profit of EUR 13.0m following a loss of EUR 9.1m in Q3 2008. - Cash flow from operating activities positive by EUR 60.5m in first three quarters of 2009 (Q1-Q3 2008: EUR 89.5m) due to profit for the period and improved management of working capital. - Net debt up from EUR 288.1m at year-end 2008 to EUR 326.5m at 30 September 2009. Net gearing 91.7% as at 30 September 2009 (31 Dec. 2008: 92.5%; 30 June 2008: 85.5%). - Use made of the favourable climate on the capital market despite the economic crisis to place a EUR 110m convertible bond issue in order to strengthen the Group´s capital and financial structure. - Guidance for 2009 revenue unchanged at about EUR 3bn, Group EBIT margin was revised during the investors day to around 3.5%. Group Highlights (unaudited) Q3 Q3 % Q1-Q3 Q1-Q3 % A-TEC Group (EUR m) 2009 2008* change 2009 2008* change Revenue 675.4 766.2 -11.9 2,138.1 2,386.7 -10.4 EBITDA 39.9 21.2 88.2 134.3 111.8 20.1 EBIT 27.6 9.6 187.5 97.4 75.9 28.3 EBIT margin 4.1% 1.3% 4.6% 3.2% EBT 15.9 -6.6 - 58.8 56.4 4.3 Profit for the period 13.0 -9.1 - 35.6 37.0 -3.8 Order intake 247.5 1,437.6 -82.8 976.6 2,985.6 -67.3 Order backlog (as at 30 September) 2,393.8 3,473.7 -31.1 Average Capital Employed 942.1 1,091.9 -13.7 926.7 1,165.5 -20.5 Return on Capital Employed 2.9% 0.9% 10.9% 6.5% (ROCE**) Investment*** 25.5 18.9 34.9 56.2 55,7 0.9 Employees**** (as at 30 September) 12,114 12,881 -6.0 30 September 2009 31 December 2008 % change Net debt 326.5 288.1 13.3 * The comparative period was adjusted for the changes arising from discontinued operations. ** ROCE = EBIT / average capital employed. *** Investment comprises additions to intangible assets, and property, plant and equipment. **** Full-time equivalent including staff at discontinued operations and apprentices. Outlook: In the light of the trading conditions and expectations for the various divisions, the A-TEC Industries Group is looking for revenue of around EUR 3bn for the 2009 financial year. At the investors´ day our guidance on the EBIT margin was upgraded from about 3% to 3.5%. If the financial and economic crisis deepens in 2009 and persists into 2010, in all probability additional restructuring will be necessary, and the resultant expenses will affect earnings. Conference Call: A conference call will be held for analysts and institutional investors at 14.45pm CET respectively 13.45 (UK) to mark the announcement of the results for the third quarter. The dial-in numbers are available from the IR Department. For more details please read our report Q1-Q3 2009 on our website under www.a-tecindustries.com end of announcement euro adhoc -------------------------------------------------------------------------------- ots Originaltext: A-TEC Industries AG Im Internet recherchierbar: http://www.presseportal.ch Further inquiry note: Contact Investor Relations: Gerald Wechselauer Phone: +43 1 22760 - 130 Email: ir@a-tecindustries.com Press Office A-TEC Industries AG Claudia Müller-Stralz Pleon Publico Public Relations & Lobbying Phone: +43-1-71786-107 E-Mail: claudia.mueller@pleon-publico.at Branche: Holding companies ISIN: AT00000ATEC9 WKN: Index: ATX Prime Börsen: Wien / Regulated free trade

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