CeoTronics AG / Half Year Results
14.01.2008
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Revenues +13.3% / EBITDA +14.1% / EBIT +21.5% / H1 profit after tax +36.0%
/ order backlog +68.8% / 2007/2008 revenue target: approx. 21.0 million /
2007/2008 EBIT target: approx. 2.6 million / 2007/2008 profit target:
approx. 1.7 million
CeoTronics AG Audio Video Data Communication (ISIN: DE0005407407),
Adam-Opel-Strasse 6, 63322 Rödermark, Germany, listed in Frankfurt Stock
Exchange's Prime Standard segment and included in the Technology All Share
Index, recorded consolidated H1 revenues of 10,568 thousand in accordance
with IFRSs. This figure exceeds the previous years record revenues (9,331
thousand) by 13.3%.
The consolidated order backlog was up 68.8% as of November 30, 2007.
EBITDA (Earnings before Interest, Taxes, Depreciation and goodwill
Amortization/impairment) rose by 220 thousand compared with the prior-year
period, from 1,563 thousand to 1,783 thousand. EBIT improved by 270
thousand in the same period, from 1,256 thousand to 1,526 thousand, while
profit after tax for H1 rose by 258 thousand, from 716 thousand in the
previous year to 974 thousand.
Gross cash flow increased by 208 thousand year-on-year in the six-month
period under review, from 1,023 thousand to 1,231 thousand.
Earnings per share improved by 0.12 to 0.44, compared to 0.32 for the
same period last year.
Consolidated equity as of November 30, 2007 amounted to 12,055 thousand,
while the equity ratio was 61.0% (previous year: 65.1%).
Revenues, EBITDA, EBIT and profit before and after tax all improved
significantly as well in Q2 fiscal year 2007/2008 as against the prior-year
figures.
CeoTronics U.S.A.'s business performance and results improved significantly
year-on-year.
In the first six months, its operating loss before currency translation
adjustments and interest amounted to USD 14 thousand (previous year:
operating loss of USD 99 thousand). The company generated an operating
profit of USD 36 thousand in the second quarter (previous year: operating
profit of USD 8 thousand).
The number of employees in the Group (including trainees) increased to 145
as of November 30, 2007 (November 30, 2006: 142). All new jobs were created
in Germany.
At +14.8%, CeoTronics' share price performed positively in the period under
review (June 1 to November 30, 2007).
For fiscal year 2007/2008, CeoTronics is aiming to generate revenues of
approx. 21.0 million, EBIT of 2.6 million, and a profit for the year of
approx. 1.7 million.
Assuming that business continues to develop positively and the revenue and
earnings targets are met, the Board of Management plans to propose a
dividend for the fifth consecutive time.
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Information and Explaination of the Issuer to this News:
This year-on-year improvement in revenues is due in particular to revenue
growth at CeoTronics Germany of 54.9%, from 3,480 thousand to 5,390
thousand. This was mainly driven by the delivery and invoicing of the first
batch of the major order for CT-DECT JetCom systems from the German Armed
Forces, worth approx. 2,190 thousand.
Expressed in euros, revenues also increased in some cases substantially
at CeoTronics Switzerland (+9.8%), CeoTronics France (12.9%), and
CeoTronics U.S.A. (+40.8%).
As expected, CeoTronics Spain was unable to match the previous year's very
high level of revenues (-20.9%), but continues to make the largest
contribution to revenues after CeoTronics Germany. CeoTronics Polands
decline in revenues is offset by the very high order backlog.
On account of these developments, the share of revenues generated outside
Germany fell to 58.6% in the first half of fiscal year 2007/2008 (previous
year: 73.2%). In line with this, the proportion accounted for by Germany
increased correspondingly to 41.4% (previous year: 26.8%).
As of November 30, 2007, the order backlog was up 68.8% as against the
prior-year period. This growth was driven in particular by CeoTronics
Germany (+228%), CeoTronics Switzerland (+210%), and CeoTronics Poland
(+371%). The other companies recorded declines in their order backlog,
although in some cases these were only minor.
Following a renewed analysis of the location factors at the Lodz location,
the Board of Management has decided to discontinue production in Poland in
favor of the company's German sites, and particularly Lutherstadt Eisleben.
Thomas H. Günther, Chairman of the Board of Management: 'We are extremely
satisfied with the results for the first half of fiscal year 2007/2008 and
the outlook is positive.'
Further information:
CeoTronics AG Audio Video Data Communication
Investor Relations, Adam-Opel-Strasse 6, 63322 Rödermark, Germany
Tel: +49 (0)6074/8751-722, Fax: +49 (0)6074/8751-720
E-mail: chairman@ceotronics.com, Internet: http://www.ceotronics.com
DGAP 14.01.2008
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Language: English
Issuer: CeoTronics AG
Adam-Opel-Straße 6
63322 Rödermark
Deutschland
Phone: +49 (0)6074 8751-722
Fax: +49 (0)6074 8751-720
E-mail: investor.relations@ceotronics.com
Internet: www.ceotronics.com
ISIN: DE0005407407
WKN: 540740
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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DGAP-Adhoc: CeoTronics AG: Consolidated Interim Report for H1 2007/2008
| Source: EQS Group AG