CeoTronics AG / Quarter Results
11.04.2008
Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Revenues +6.1% / EBITDA +9.0% / EBIT +10.5% / Consolidated profit for the
first nine months +21.4% / Order backlog +177.9%
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 revenues of 14,889 thousand in the first nine
months of fiscal year 2007/2008 in accordance with IFRSs. The Company
therefore exceeded the previous year's record nine-month revenues by 6.1%.
The consolidated order backlog as of February 29, 2008 increased by 177.9%
year-on-year. The current order backlog is at its highest level by far in
the Company's history.
Consolidated EBITDA (Earnings before Interest, Taxes, Depreciation and
goodwill Amortization/impairment) rose by 184 thousand compared with the
prior-year figure for the first nine months, from 2,035 thousand to 2,219
thousand. Consolidated EBIT improved by 174 thousand in the same period,
from 1,655 thousand to 1,829 thousand, and the consolidated profit rose
by 208 thousand, from 973 thousand in the previous year to 1,181
thousand.
Gross cash flow increased by 218 thousand (+16.1%) year-on-year in the
nine-month period under review, from 1,353 thousand to 1,571 thousand.
Investments in the first nine months of fiscal year 2007/2008 totaled 468
thousand. Excluding the one-time acquisition of real estate in the prior
year, investments increased by 192 thousand or 69.6%.
Earnings per share improved by 0.03 to 0.18, compared with 0.15 for the
same period last year. The split of shares at a ratio of 3:1 from January
31, 2008 is already reflected in these figures.
Consolidated equity as of February 29, 2008 amounted to 12,286 thousand;
the equity ratio was 71.9% (previous year: 67.6%).
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Information and Explaination of the Issuer to this News:
The year-on-year improvement in revenues is due in particular to revenue
growth at CeoTronics Germany of 37.4%, from 5,307 thousand to 7,290
thousand. This was mainly driven by the delivery and invoicing of the first
batch of the major order from the German Armed Forces.
Expressed in euros, revenues also increased in some cases substantially
at CeoTronics Switzerland (+73.5%), CeoTronics France (+16.3%), CeoTronics
Poland (+84.9%), and CeoTronics U.S.A. (+7.1%). As expected, CeoTronics
Spain (-40.7%) was unable to match the previous year's very high level of
revenues, but continues to make the largest contribution to revenues after
CeoTronics Germany.
CeoTronics U.S.A.'s business performance and results improved year-on-year.
In the first 9 months of fiscal year 2007/2008, its operating loss before
currency translation adjustments and interest amounted to USD 73 thousand
(previous year operating loss of USD 125 thousand).
The number of employees in the Group (including trainees) increased to 148
as of February 29, 2008 (February 28, 2007: 147).
At +35.1%, CeoTronics' share price performed positively in the period under
review (June 1, 2007 to February 29, 2008).
In the third quarter of fiscal year 2007/2008, production work was
performed in relation to the delivery of the second batch of the major
order of CT-DECT JetCom systems to the German Armed Forces. The second
batch is expected to be delivered and invoiced by the end of May 2008.
Thomas H. Günther, Chairman of the Board of Management: 'We are satisfied
with the Company's nine-month results. Our results as of February 29, 2008
and our very high order backlog strengthen our belief that consolidated
revenues of approximately 21.0 million, EBIT of approximately 2.6
million, and profit of approximately 1.7 million are possible in fiscal
year 2007/2008.'
CeoTronics expects its positive business trend to continue in fiscal year
2008/2009 due to the very high order backlog and the expected investments
by German law enforcement customers in communications accessories for the
new digital radios.
Further information:
CeoTronics AG Audio Video Data Communication
Investor Relations, Adam-Opel-Strasse 6, 63322 Rödermark, Germany
Tel.: +49 6074 8751-722, Fax: +49 6074 8751-720
E-mail: chairman@ceotronics.com, Internet: http://www.ceotronics.com
DGAP 11.04.2008
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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
End of News DGAP News-Service
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DGAP-Adhoc: CeoTronics AG: Consolidated nine-month report for FY 2007/2008
| Source: EQS Group AG