A-TEC Industries AG

EANS-Adhoc: A-TEC Industries AG
Interim report on the first half of 2010

@@start.t1@@--------------------------------------------------------------------------------   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. --------------------------------------------------------------------------------@@end@@

6-month report/Interim report on the first half of 2010

10.08.2010

Highlights:

- Rising order intake in Q2 2010 at EUR 313.0 million (m) (Q2 2009: EUR 302.5m); the persistent decline in order bookings by the Plant Construction Division was more than offset by growth in Drive Technology and Minerals & Metals. - Order backlog was EUR 1.8 billion (bn) as at end-June 2010 - 14.3% down on year-end 2009 (EUR 2.1bn). - Group revenue edged down by 2.5% year on year to EUR 1,426.6m (H1 2009: 1,462.7m). - Earnings before interest, tax, depreciation and amortisation (EBITDA) were down by 39.0% to EUR 57.6m (H1 2009: EUR 94.4m). Cost overruns on a turnkey project led to weaker earnings from the Plant Construction Division, which were not fully offset by a 19.5% improvement in the contribution of the Minerals & Metals Division. - Group earnings before interest and tax (EBIT) were down by 54.0% to EUR 32.1m (H1 2009: EUR 69.8m); the EBIT margin was 2.3% (H1 2009: 4.8%). - Net finance costs rose to EUR 27.9m (H1 2009: EUR 26.9m); higher finance costs due the convertible bond and increased borrowing costs in Plant Construction outweighed the improvement in Drive Technology. Earnings before tax (EBT) fell to EUR 4.2m (H1 2009: EUR 42.9m). - Tax income of EUR 1.1m (H1 2009: tax expense 17.5m), reflecting the lower tax base and positive deferred tax effects, led to a profit for the period of EUR 5.8m (H1 2009: EUR 24.5m). - Chief financial officer Christian Schrötter is not extending his contract when it expires on 31 December 2010; a successor will be appointed at the next Supervisory Board meeting. - Management is maintaining the guidance given at the time of announcement of the results for 2009: revenue of EUR 2.7bn and an EBIT margin of about 3% for 2010 as a whole.

@@start.t2@@Group Highlights (unaudited)         Q2         Q2         %            H1          H1          %
A-TEC Group (EUR m)                    2010    2009* change         2010      2009*  change

Revenue                                      728.8    771.1    -5.5    1,426.6  1,462.7      -2.5
EBITDA                                          7.0      43.7  -84.0         57.6        94.4    -39.0
EBIT                                            -5.8      31.1         -         32.1        69.8    -54.0
EBIT margin                                -0.8%      4.0%                    2.3%        4.8%
EBT                                            -19.5      21.1         -          4.2        42.9    -90.2
Profit for the period                 -6.9      10.2         -          5.8        24.5    -76.3

Order intake                              313.0    302.5      3.5        673.2      729.1      -7.7
Order backlog (as at 30 June)                                        1,787.8  2,710.2    -34.0

Investment**                                30.4    15.4      97.4         39.0        30,7      27.0
Employees*** (as at 30 June)                                          11,499    12,206      -5.8

                                                      30  June 2010    31  December 2009    % change
Net debt                                                      510.1                        356.5          43.1@@end@@

* Comparative period was adjusted. ** Investment comprises additions to intangible assets, and property, plant and equipment. *** Full-time employees including apprentices and staff at discontinued operations.

For more details please read our interim report on the first half of 2010 on our website under www.a-tecindustries.com

@@start.t3@@end of announcement                                                 euro adhoc
--------------------------------------------------------------------------------@@end@@

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

Further inquiry note:
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



Weitere Meldungen: A-TEC Industries AG

Das könnte Sie auch interessieren: