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29.05.2009 – 06:11

Dr. Hönle AG

EANS-News: Hönle with the expected weak first six months; improved orders position in the third quarter

--------------------------------------------------------------------------------   Corporate news transmitted by euro adhoc. The issuer/originator is solely   responsible for the content of this announcement. --------------------------------------------------------------------------------


Gräfeling/München (euro adhoc) - The economic crisis also impacted on the business development of the Hönle Group. With sales of TEUR 22,580 in the first six months of the year, revenues saw an acquisition-based 25.2 % increase compared to the previous year´s period. Owing to the recession earnings before interest and tax (EBIT) dropped from TEUR 3,416 in the first half of the previous year to TEUR -2,180 in the current financial year. Pre-tax earnings were down from TEUR 3,702 to TEUR -2,204 in the same period and the Group result declined from TEUR 2,844 to TEUR -1,686. Earnings per share fell from EUR 0.52 EUR to EUR -0.31.

The liquid assets, securities and treasury stock inventory amounted to TEUR 6,406 at the end of the reporting period and the equity capital ratio came to 66.5 %.

Outlook: Owing to the weak economic situation, Hönle resolved on a comprehensive package of measures at an early stage and has already implemented large parts of this. The measures include a reduction in personnel costs, transfer of the Eltosch production to Dr. Hönle AG, and restructuring the adhesives segment. As a consequence, the Hönle Group will already operate profitably after sales revenues have reached ca. EUR 42 million in the next financial year.

Integration of the hitherto externally manufactured Eltosch GmbH systems into Dr. Hönle AG is of central significance in this respect. After control technology is being manufactured internally to a large extent, mechanics will follow in a second step. This will enable more efficient production of Eltosch UV and IR systems at lower costs. The integration process will be finalised at the end of the financial year.

A central location for the international activities of the Hönle Group adhesives segment was opened in March. Development, purchasing, sales & marketing and also logistics are now pooled at the headquarters in Steinbach near Frankfurt. In the past, the business activities of Panacol GmbH and Wellomer GmbH as well as significant parts of Panacol AG in Switzerland were allocated to three different sites. The new structure leads to an improved information flow, optimises processes and contributes significantly to an increase in the earnings power of the adhesives segment. Investments in the new company premises ensure that all processes can be reflected in the best possible manner. State-of-the art laboratory equipment offers the technical preconditions for ensuring both efficient research activities and a high quality standard in production. The adhesives business of the Hönle Group is to be further expanded overall. To this end, personnel in sales and marketing will be increased and the extremely dynamic Asian market, in particular, will be tapped further.

Initial signs of stabilisation of the business situation are recognisable at the Hönle Group. Due to the improved orders position, Management´s expectations are for rising sales in the third quarter in comparison with the last quarter. The short time work could be reduced perceptible in the third quarter. Moreover, the effects from the cost savings programme will make themselves felt. Overall, the Management Board expects a significantly improved result in comparison with the first and second quarter.

end of announcement                                                 euro adhoc

ots Originaltext: Dr. Hönle AG
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Further inquiry note:
Peter Weinert
Tel.: +49 (0)89 856 08 173

Branche: Instrument Engineering
ISIN:      DE0005157101
WKN:        515710
Index:    CDAX, Prime All Share, Technologie All Share
Börsen:  Frankfurt / regulated dealing/prime standard
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