CENTROTEC Sustainable AG / Final Results/Forecast 20.03.2008 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. --------------------------------------------------------------------------- Brilon, March 20, 2008 CENTROTEC Sustainable AG, Brilon, successfully completed the 2007 financial year with record sales and earnings despite an extremely difficult situation in the German heating market, and thus broadly achieved the revenue and earnings forecasts that had already been revised upwards in the course of the year. All three segments contributed towards this achievement thanks to their profitable organic growth. Consolidated revenue for 2007 rose organically by 6.2 % to EUR 406.4 million (reported, 2006: EUR 396.3 million; as-if, previous year: EUR 382.8 million excluding CENTROSOLAR, including Wolf Group). Meanwhile EBITDA grew by 44 % to EUR 43.6 million and the operating result (EBIT) of EUR 27.6 million was more than double the prior-year figure of EUR 12.5 million which, however, included various non-recurring effects. A year-on-year comparison of the as-if operating result reveals an increase of around EUR 5.4 million, i.e. approx. 25%. Earnings after taxes (EAT) reached EUR 16.5 million, producing basic earnings per share (EPS) of EUR 1.01. The prior-year figure was EUR 0.88. It should also be noted in this connection that there was a 1:1 share split in July 2007. The rise in the operating result is all the more notable because transactions with minorities contributed EUR 0.61 towards the prior-year figure. CENTROTEC was likewise able to compensate for the 60 % rise in interest expense from acquisitions activities. The CENTROTEC balance sheet, which had been extended appreciably by the acquisitions of recent years, contracted in the 2007 financial year to EUR 361.8 million (previous year EUR 483.1 million) among other reasons because the 33.6 % interest in CENTROSOLAR Group AG is now accounted for using the equity method. The net financial liabilities were reduced in an initial step by EUR 37.5 million to EUR 121.8 million, more than had been originally planned. The equity ratio was just above 30 % and the ratio of net financial liabilities to EBITDA in the first full year after the takeover of Wolf was back below 3.0. Operating cash flow rose to EUR 32.7 million (previous year EUR 5.6 million), thanks to stable cash flows and active working capital management. Cash and cash equivalents for the company totalled EUR 17.0 million at year-end. Outlook for 2008 CENTROTEC expects organic revenue growth to be in the upper single-digit percentage range for the current financial year, reaching EUR 435 to 445 million. At earnings level, the targets envisage an operating result (EBIT) of EUR 32 to 34 million and earnings per share (EPS) of EUR 1.10 to 1.15. The Gas Flue Systems segment will contribute approx. EUR 110 million towards revenue, with an EBIT margin of just under 10 %. Revenue of approx. EUR 290 million is the target for the Climate Systems segment, with an EBIT margin of 6 to 7 %. Revenue of just under EUR 40 million and an earnings margin from operations of 8 to 9 % is expected in the Medical Technology & Engineering Plastics segment. These expectations are confirmed by the progress of the market and of business in the first two months of the current financial year. CENTROTEC Sustainable AG CENTROTEC Sustainable AG and its subsidiaries enjoy a presence in over 45 different countries. The principal group companies are Wolf Heiztechnik, Brink Climate Systems and Ned Air, which have specialised in heating, climate control and ventilation technology in the Climate Systems segment, and Ubbink and Centrotherm, which have focused on gas flue systems and components for solar systems in the Gas Flue Systems segment. The continuing debate about how to protect the earth's climate has prompted the introduction or stepping up of state subsidies and regulations in all European countries as a result of the EU's ambitious climate protection targets. This, coupled with further rises in energy prices, leads CENTROTEC to expect the positive effect on its core business of energy-saving concepts for buildings to continue into the medium and long term. Following the successful completion of Wolf's integration in the past financial year, CENTROTEC will continue to focus on integrated concepts for heating, climate control and ventilation in buildings. By maintaining an innovative approach to product development and expanding internationally, it will progressively extend its position as Europe's only listed comprehensive supplier of energy-saving products for buildings. 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 98280-30 DGAP 20.03.2008 --------------------------------------------------------------------------- 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 ---------------------------------------------------------------------------
DGAP-Adhoc: CENTROTEC: all key figures reach record levels
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