EANS-Adhoc: BENE AG
In consequence of challenging environment Bene implements
work-time model.
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.
03.08.2009
- Broad approval by employees
Vienna / Waidhofen/Ybbs, August 3rd, 2009. As of August 1st, the Bene AG implements a work-time model, which provides for a reduction in working time to 80 % and a corresponding reduction in salary for all salaried employees in Austria. The model forms part of the extensive cost cutting and efficiency increase program and will lead to a further significant relief in personnel costs in the second half-year of 2009/10.
The new work-time model applies to the salaried employees of the Bene AG in Austria. It was accepted by 99.5 % of the affected salaried employees. Instead of a working time of previously 38.5 hours, as of August 1st, 2009, the model includes a part-time agreement with a reduced working time of 80 % - hence 30.8 hours - limited until July 31, 2010. In return, 423 of the in total 425 affected salaried employees and the Management Board of the Bene AG waive 20 % of their gross salary for one year. 50 % of the lost net-salary difference may be received in form of an advance on salary. After expiry of the part-time arrangement, this advance will be returned as of August 1st, 2010.
In total, with the implementation of the part-time model, Bene has identified a cost-cutting potential in the amount of about EUR 4.5 million. "The broad approval of our employees for the model is extremely pleasing and reflects the solidarity and our culture within the Company. Especially in these economically challenging times it is of particular importance, to jointly find solutions for sustainably securing the Company´s future on a healthy basis to emerge strengthened from the crisis," says Frank Wiegmann, Chairman of the Management Board of the Bene AG.
Overall, in line with the economic conditions and the cyclicality of the business, in the year 2009/10 Bene assumes a decline in sales. In the medium to long-term the Company expects a clearly positive economic outlook.
About Bene. Bene is convinced that there is a clear connection between the design of office and working environments, company culture and the success of a company. Bene´s concepts, products and services put this philosophy into reality. Development, design and production as well as consulting and sales are covered under one roof. With 82 sites in 33 countries and 1.525 employees worldwide, Bene offers its customers regional access to all of its services. In the business year 2008/09, consolidated sales of the Bene Group amounted to EUR 265.3 million. Bene is market leader in Austria and number six in Europe. The Annual Report 2008/09 as well as the First Quarter Report 2009/10 are available under http://bene.com.
end of announcement euro adhoc
Further inquiry note:
Investor Relations:
Frank Wiegmann
Chairman of the Management Board
Schwarzwiesenstraße 3, A-3340 Waidhofen/Ybbs
IR Hotline: +43-7442-500-3100
ir@bene.com
Public Relations:
Ursula Grabher
Head of Public Relations
Renngasse 6, A-1010 Wien
Tel. +43-1-534 26-1265
Branche: Furnishings & Furniture
ISIN: AT00000BENE6
WKN:
Index: ATX Prime
Börsen: Wien / official market