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Einhell Germany AG

EANS-News: Einhell Germany AG
Einhell group

Landau/Isar (euro adhoc) -

  Corporate news transmitted by euro adhoc. The issuer/originator is solely
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                             for the business press
                  from Einhell Germany AG, Landau an der Isar,
. Einhell group is slightly behind the turnover of the previous year but
      still very profitable
    . High equity ratio
    . Dividend
    . New product lines
    . Further expansion
Landau an der Isar, 07 April 2009
The Einhell group is slightly behind the turnover of the previous 
year but still very profitable In spite of the difficult worldwide 
economic situation and despite of a slight drop in turnover the 
Einhell group has reached a very positive result in the year 2008. 
The group turnover for the financial year 2008 amounts to EUR 358.5 
million compared to the previous year of EUR 385.7 million. The 
turnover of 2007 could not be reached in Germany, in the European 
Union and Asia. The main cause for the drop in turnover was the 
implementation of an anti- dumping-duty against Chinese compressors 
as well as the general decline in the economic development in the 
fourth quarter of 2008. In contrast the turnover increased in the 
growth markets primarily in Eastern Europe. Top selling countries are
amongst others e. g. Croatia, Poland and Romania. In 2008, 65% of the
group turnover was realised outside Germany.
In the financial year 2008 the Einhell group reached a profit before 
taxes of EUR 18.4 million (last year EUR 24.6 million). The profit 
margin before tax amounts to 5,1% (previous year 6,4%).
The group's profit before minority's interests amounts to EUR 14.2 
million compared to the previous year EUR 16.7 million. The profit 
per share according DVFA amounts EUR 3.8 (previous year EUR 4.4)
Equity ratio Einhell group continues to show up a solid balance sheet
structure with a distinguished equity-ratio of around 50%. Also the 
net debt of Einhell group has been further reduced. So the Einhell 
group is best prepared for further expansion strategy.
Dividend
In spite of the difficult worldwide economic situation the management
wants to continue to retain the same dividend-strategy as in the 
past. The board of directors suggests the annual shareholders meeting
a dividend of EUR 0.60 per preference stock and EUR 0.54 per common 
stock.
New product lines
End of 2008 new product lines were launched to the market. The "Blue"
line stands for the high entrance price level and the "Red" line for 
the medium price range. The positioning of Red Powertools is unique, 
as these products can keep up with the top brand products regarding 
design and quality but regarding the price, the products are more 
competitive than the top brands in the do-it-yourself market. Beside 
of the revised recognition value the new product lines also the 
efficiency of logistics and distribution was improved.
Further expansion
An important topic in the long term strategy is the increase in 
turnover with constantly good return. The Einhell group has reached 
in the German market and also in the markets of some neighbouring 
countries a very high penetration of the market. As these markets 
stagnate so the Einhell group concentrates on new markets in foreign 
countries. In 2008 new subsidiaries in Greece, Chile, the United Arab
Emirates, France, Denmark, Slovakia and Australia could be 
established and integrated in the group structure. For the business 
year 2009 the Einhell group has planed to establish one further 
company in Brasil and also to realise a partnership with companies in
India and South America to enhance the possibilities of the 
distribution.
In spite of the difficult worldwide economic conditions the Einhell 
group reached to the year end of 2008 also a good result. This 
confirmed the sustainable profitability. In consideration of the 
difficult worldwide economic situation the business trend 2009 comes 
up to the expectation of the Einhell group.
Landau a. d. Isar, den 07 April 2009
Board of Directors
Contacts
Jan Teichert                                 Helmut Angermeier
Vorstand                               Prokurist
Postfach 1 50                                Postfach 1 50
94402 Landau/Isar                            94402 Landau/Isar
Tel.: 09951/942-108                          Tel.: 09951/942-166
Fax: 09951/5817                        Fax: 09951/942-293
E-Mail:  Jan.Teichert@einhell.com             E-Mail: 
Helmut.Angermeier@einhell.com
end of announcement                               euro adhoc

Further inquiry note:

Silvia Vaitl
09951-942-290

Branche: Wholesale
ISIN: DE0005654933
WKN: 565493
Index: CDAX
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade

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