CENTROTEC Sustainable AG / Preliminary Results/Forecast
28.01.2008
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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Brilon, January 28, 2008 On the basis of provisional, unaudited figures
CENTROTEC Sustainable AG, Brilon, increased its revenue to around EUR 405
million in the past financial year. The company consequently reached its
target, which it had adjusted upwards midway through 2007, despite a
downturn of more than 25 % in the German heating market. This achievement
was largely due to double-digit revenue growth in its European export
markets, coupled with substantial growth in the Gas Flue Systems segment as
a result of the steady rise in market penetration for condensing boiler
technology. Earnings increased overproportionally. The figures are still
being finalised and will be published along with the audited annual
accounts on March 20, 2008. We expect that the final figures will not
differ substantially from the forecast for 2007 (earnings per share EUR
1.00 - 1.05; EBIT EUR 29 to 31 million).
Forecast for 2008
CENTROTEC, the only listed company in Europe that is a full range supplier
of energy-saving products for residential and commercial buildings, again
expects organic growth in the upper single digit range for 2008, with a
corresponding rise in earnings. Revenue is expected to reach at least EUR
435 to 445 million in 2008. On the earnings side, the group is aiming to
further strengthen margins yet again following the cost optimisation
measures it initiated in 2007. The operating result (EBIT) for the group as
a whole will be in the range of EUR 32 to 34 million. Earnings per share
(EPS) are expected to be in the order of EUR 1.10 to 1.15. The current
economic uncertainties have been taken into account in the forecast.
The rise in revenue will be broad-based, with all business segments
contributing; in the Gas Flue Systems segment international expansion,
particularly in Eastern Europe and eventually also in the United States,
will help to bolster growth. The German market is expected to exhibit a
catch-up effect with regard to investment in new, energy-efficient heating
technology. The foundations for energy-saving solutions finding increased
use are therefore being laid as a result of rising energy costs and the
ongoing debate about climate change. Added to this, new legislation in
virtually all European countries is necessitating and promoting
energy-efficient solutions in buildings.
The detailed guidance, with figures for each segment, will be published
together with the annual accounts at the Annual Press Conference on March
20, 2008.
Additional Management Board member
With effect from January 1, 2008 the Supervisory Board of CENTROTEC
Sustainable AG appointed Anton Hans RA as Chief Financial Officer of the
company. Anton Hans has been Vice President Finance of CENTROTEC since May
1, 2007.
He is taking over as CFO from the Chief Executive Officer of CENTROTEC
Sustainable AG, Dr. Gert-Jan Huisman, who has been performing both roles
for the past six years but would now like to concentrate on his tasks as
CEO in response to the company's continuing growth and wide-ranging future
opportunities. Anton Hans previously worked as an auditor at Ernst & Young,
where he was much in demand as a specialist for the preparation of IFRS
accounts for companies.
CENTROTEC Sustainable AG, Am Patbergschen Dorn 9,
59929 Brilon
Germany
ISIN: DE0005407506, WKN: 540750
Indices: Prime All Share, Prime Industrial, GEX
Home stock exchange: Frankfurt am Main
For further information, contact:
CENTROTEC Sustainable AG
Dr. Frank Rose, tel.: +49 (0) 2961 96631-104
or:
MetaCom Corporate Communications GmbH
Georg Biekehör, tel.: +49 (0) 6181 9828030
DGAP 28.01.2008
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Language: English
Issuer: CENTROTEC Sustainable AG
Am Patbergschen Dorn 9
59929 Brilon
Deutschland
Phone: +49 (0)2961 96631-0
Fax: +49 (0)2961 96631-100
E-mail: ir@centrotec.de
Internet: www.centrotec.de
ISIN: DE0005407506
WKN: 540750
Indices: Prime Standard; GEX
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: CENTROTEC: forecast for 2007 on target, continuing organic growth to more than EUR 435 million expected for 2008
| Source: EQS Group AG