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BENE AG

euro adhoc: BENE AG
Annual Reports
Bene on course for further success: recent sales increase and steady earnings in the third quarter of 2008/09.

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
quaterly report
15.12.2008
•       Consolidated sales increased by 4.5% to EUR 192.5 million
•       Profitability kept at high level
•       Significantly improved operating cash flow
•       Further expansion of strong market position through acquisition of
international major projects
Vienna / Waidhofen/Ybbs, December 16, 2008. With another increase in 
sales and by keeping the profitability at a high level, the Vienna 
stock listed Bene AG (ISIN AT00000BENE6) stayed on course for further
success in the third quarter of 2008/09.
In the third quarter of the business year 2008/09,  Bene - the 
international specialist for office and working environments - once 
again reported a sales increase of 4.5% to EUR 192.5 million (third 
quarter of 2007/08: EUR 184.3 million). The international local 
presence, the individual production and a wide, balanced product 
portfolio constituted the basis for this sustainable organic growth. 
A consideration per segments shows a sales increase in all segments, 
with the exception of the UK. In its home market Austria, with a 
sales increase of 5.4% to EUR 57.9 million in the first nine months, 
Bene could once more exceed the previous year´s value (third quarter 
of 2007/08: EUR 54.9 million). Similarly, in Germany Bene looks back 
on three successful quarters in 2008/09 and increases sales again by 
6.4% from EUR 47.3 million to EUR 50.3 million. After the 
extraordinary positive reference period in the last year, in the UK 
segment, Bene had to pay tribute to the clearly weakened investment 
climate and reported a decline in sales by 38.4% to EUR 17.2 million 
(third quarter of 2007/08: EUR 27.9 million) in this market. Based on
a strong sales increase in the second and third quarter of 2008/09, 
Bene once again achieved a significant rise in sales of 26.5% to EUR 
25.8 million (third quarter of 2007/08: EUR 20.4 million) in the 
Russia segment. With a growth of 22.3% to EUR 41.3 million (third 
quarter of 2007/08: EUR 33.8 million), the "other markets" segment 
showed once more an above-average development. Beside the Ukraine, 
Poland and Czechia, particularly France, the Netherlands and 
Switzerland contributed to this substantial rise.
Despite the already noticeable impacts of the finance market crisis 
on the real economy, the Bene Group kept earnings and profitability 
at last year´s high level: The EBIT of 10.8 million remained exactly 
at the previous year´s level, the EBIT-margin reached 5.6% (third 
quarter of 2007/08: 5.9%).
Compared to the three quarters of the preceding  year, as a result of
lower income from securities, the Bene Group´s financial result 
marginally decreased by EUR 0.5 million to EUR -0.4 million. In 
total, the EBT slightly dropped by 4.7% to EUR 10.4 million. The 
EBT-margin was 5.4% (third quarter of 2007/08: 5.9%). Despite the 
positive business performance in the first nine months, the Bene 
Group´s working capital of EUR 36.8 million (third quarter of 
2007/08: EUR 36.6 million) remained constant. As of the reporting 
date October 31, 2008, the equity ratio decreased to 40.8% (January 
31, 2008: 48.7%) due to the expansion of the balance sheet total.
A major part of the investments in the total amount of EUR 15.0 
million (third quarter of 2007/08: 12.9 million) was arising from the
expansion and the modernisation of the site in Waidhofen/Ybbs as well
as from the adaptation and the strengthening of the distribution 
sites.
As of October 31, 2008, the Bene Group occupied 1,517 employees and 
thus 29 persons or 1.9% less than on October 31, 2007.
After the satisfactory first nine months, the Management Board 
absolutely positively appraises the business performance for the 
forth quarter of 2008/09. The broad geographic approach, the 
strategically right positioning in the growth markets and the strong 
direct sales net with the market proximity are a solid starting 
position to face the expected difficult next quarters to come. Except
for the UK, all segments indicate a good development for the full 
year 2008/09. Overall, with another satisfying quarter, the Group is 
optimistic to increase total sales for the entire year and to keep 
absolute earnings steady. The generally negative atmosphere on the 
finance markets, initiated by the subprime and bank crisis and their 
impacts on the real economy must still be considered as instability 
factors.
Note Among others, this report contains statements on potential 
future developments, which were made on the basis of currently 
available information. Such statements, which reflect the current 
assessment of future developments by our Management, cannot be 
construed as guarantees for future performance and bear unforeseeable
risk and uncertainty. There may be a variety of reasons for actual 
results and conditions to diverge from the assumptions, on which the 
statements were based.
The comprehensive quarterly report is available under www.bene.com.
end of announcement                               euro adhoc

Further inquiry note:

Investor Relations
Gerald Strohmaier, MBA
Head of Finance & Investor Relations
BENE AG
A-3340 Waidhofen/Ybbs
Schwarzwiesenstraße 3
Phone. +43-7442-500-3372
Fax +43-7442-500-993372
www.bene.com

Branche: Furnishings & Furniture
ISIN: AT00000BENE6
WKN:
Index: ATX Prime
Börsen: Wiener Börse AG / official market

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