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A-TEC Industries AG

EANS-Adhoc: A-TEC Industries AG
First Quarter Report 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.
quarterly report/Report First Quarter 2009
11.05.2009
Highlights: - Continued high order backlog at EUR 3.1 billion (bn) 
(31 March 2008: EUR 2.6bn). - Group revenue down by 10.2% to EUR 
691.6m. - Earnings before interest, tax, depreciation and 
amortisation (EBITDA) slightly higher year on year at EUR 50.7m (Q1 
2008: EUR 50.1m) due to lower material costs, particularly in the 
Minerals & Metals Division. - Earnings before interest and tax (EBIT)
for the period EUR 38.7m (Q1 2008: EUR 38.3m); EBIT margin up from 
5.0% to 5.6%. - Sharp increase in net finance costs reflecting gains 
on disposal of the interests in copper companies Cumerio SA and 
partly Norddeutsche Affinerie AG in the comparative last year´s 
period, and exchange losses of EUR 4.6m in the Drive Technology 
Division in Q1 2009. - Earnings before tax (EBT) 34.5% lower at EUR 
21.8m (Q1 2008: EUR 33.3m). - Profit for the period EUR 14.3m (Q1 
2008: 24.6m). - Operating cash flow turned positive to EUR 63.6m 
compared to EUR -94.3m in Q1 2008. - Further reduction in net debt 
from EUR 288.1m at year end to EUR 241.8m as at 31 March 2009. Net 
gearing down to 73.9% (31 December 2008: 92.5%; 31 March 2008: 
98.0%). - Management outlook for 2009 sees revenue unchanged at about
EUR 3bn, and EBIT margin at 3%.
Financial highlights (unaudited)     Q1 2009   Q1 2008*   % change
A-TEC Group
(EUR m)
Revenue                                691.6      770.4      -10.2
EBITDA                                  50.7       50.1        1.2
EBIT                                    38.7       38.3        1.0
EBIT margin                            5.6 %      5.0 %
EBT                                     21.8       33.3      -34.5
Profit for the period                   14.3       24.6      -42.0
Order intake                           426.6      757.5      -43.7
Order backlog (31 March)             3,099.6    2,611.7       18.7
Investment**                            15.3       22.4      -31.7
Employees*** (31 March)               12,687     13,339       -4.9
* The comparative period was adjusted for the changes arising from 
the adjustment of purchase price allocations and discontinued 
operations. ** Investment comprises additions to property, plant and 
equipment, and intangible assets *** Full-time employees including 
apprentices
Outlook for 2009 The outlook for the global economy in 2009 is 
shrouded in uncertainty. Management anticipates that global economic 
growth will fall sharply in 2009, to a very low rate at best.
Order backlog in the Plant Construction Division should underpin good
capacity utilisation well into 2010. Stricter emission limits, the EU
Land-fill Directive and growing demand for alternative energy forms 
lead us to expect a continuation of the division´s positive 
performance in 2009. The division is targeting further revenue growth
despite order intake being significantly below last year´s level.
The Drive Technology Division expects to face an extremely testing 
trading environment this year. For the Industrial Motors business 
unit 2009 is likely to be another year of plunging demand for 
industrial motors, and drives for domestic and garden appliances. 
Project Motors is well on budget. Management anticipates a fall in 
overall divisional revenue and a break-even EBIT performance.
In the Machine Tools Division, we see the adverse market situation 
leading to significant declines in order intake in the EMCO Group, 
and in turn to lower revenue. However Dörries Scharmann Technologie 
(DST) has so far been virtually untouched by the fallout from the 
recession, and management expects 2009 to be another successful year 
for the group.
Copper prices have rebounded since the turn of the year, but swings 
of up to USD 2,000 are expected in 2009 by the management of minerals
& metals division. A volatile US dollar is another likely feature of 
this scenario. This points to a recovery in the division´s sales in 
the second half of 2009, but revenue for the year is expected to be 
well down on 2008 levels.
In the light of the overall trading environment and expectations for 
the various divisions, the A-TEC Group anticipates revenue of around 
EUR 3 billion for the 2009 financial year. The EBIT margin should be 
about 3%. 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.
The detailed First Quarter Report 2009 can be downloaded from the 
website under Investor Relations.
end of announcement                               euro adhoc

Further inquiry note:

Contact Investor Relations:
Gerald Wechselauer
Head of Investor Relations
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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