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A-TEC Industries AG

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

  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.
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.
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
* 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
end of announcement                               euro adhoc

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

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