schlott gruppe Aktiengesellschaft / Half Year Results/Quarter Results
07.05.2008
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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schlott gruppe confirms provisional results for first half of 2007/8
- Break-even EBT before one-time charges in first half
- Cost reduction programme being phased in as scheduled
- Annual forecast reaffirmed
Freudenstadt, May 7, 2008. schlott gruppe developed in line with its
targets over the course of the second quarter and first half of 2007/8 and
is confirming its provisional results published on April 23. The full
report on the first half and second quarter of the 2007/8 financial year
can be accessed from the company website (www.schlottgruppe.de/
Investor Relations/Financial Reports).
Value-added sales at Group level amounted to 122.1 million in the first
half of 2007/8, compared with 130.0 million for the same period a year
ago, while sales revenue totalled 239.1 million for the period after
244.9 million in the first half of the previous year. schlott gruppe is
currently implementing its cost reduction programme as originally
scheduled. At 6.3 million, part of the non-recurring charge forecast for
the financial year as a whole was recognised as expense in the reporting
period. Excluding this one-time item, the Group generated EBT of 0.5
million in the first half of 2007/8 after 7.9 million posted for the same
period a year ago. Accounting for the non-recurring expense, the loss
before taxes stood at 5.8 million in the first half.
The post-tax loss amounted to 4.5 million after the first six months,
compared to a profit of 10.1 million reported for the same period a year
ago. The loss per share was 0.74, as opposed to positive earnings per
share of 1.62 a year ago. Additionally, earnings per share for the first
half of the previous year had included 0.19 from discontinued operations.
Value-added sales in the second quarter of 2007/8 amounted to 56.9 million
at Group level, compared with 60.7 million for the same period a year ago.
Revenue contracted to 111.7 million, down from 122.5 million. Before
non-recurring expenses, EBT for the second quarter stood at minus 2.7
million after minus 0.6 million last year. Including non-recurring
expenses, EBT was minus 9.0 million. The post-tax loss amounted to 6.6
million in the second quarter, compared with a profit of 0.1 million
posted a year ago. The loss per share was 1.07, as opposed to positive
earnings per share of 0.02 a year ago. Additionally, earnings per share
for the second quarter of the previous year had included 0.11 from
discontinued operations.
The print unit generated value-added sales of 120.3 million in the first
half of 2007/8, after 127.8 million posted for the same period a year ago.
After the first six months EBT before non-recurring expenses stood at 2.6
million; including non-recurring expenses, it amounted to minus 3.7
million, compared with positive EBT of 9.8 million posted for the first
half of 2006/7. In the second quarter of 2007/8 value-added sales totalled
56.0 million after 59.7 million. EBT before non-recurring expenses stood
at minus 1.5 million; including non-recurring expenses, it was minus 7.8
million. EBT for the second quarter of the previous financial year had been
0.6 million.
Costs incurred by corporate services, the unit responsible solely for
providing internal services within the Group, remained in line with budgets
for both the second quarter and the first half.As already outlined in the announcement of the Group's provisional results,
schlott gruppe continued to pursue the targeted phase-in of its cost
reduction programme over the course of the reporting period. This will
provide the necessary basis for a reduction in the Group's annual expenses
by an amount in the double-digit million range. Supported by these
measures, schlott gruppe will be able to partially offset the effects of
previous price reductions and anticipated pricing pressure as early as the
current financial year. Excluding the non-recurring expenses of approx. 15
million required in connection with the cost reduction programme, the
Group's forecast of break-even EBT for the 2007/8 financial year remains
unchanged.
Notes to financial data:
Alongside 'revenue/sales', schlott gruppe uses so-called 'value-added
sales' (VAS) as a financial indicator both in its external communications
and as part of its internal controlling mechanisms. Revenue is subject to
fluctuations that are attributable to the volume of paper supplied by
customers as raw material for certain projects. In contrast to paper
purchased directly by the company, paper supplied by customers is not
included in the accounts of schlott gruppe. In the 2006/7 financial year,
the so-called paper provision ratio stood at 72.5 per cent. As a financial
indicator, 'value-added sales' eliminates fluctuations relating to paper
supplied by customers, thus reflecting the actual sales performance.
schlott gruppe AG
Marco Walz
Investor Relations & PR
Wittlensweilerstr. 3
72250 Freudenstadt
Germany
Phone: +49 7441 531-230
Fax : +49 7441 531-204
marco.walz@schlottgruppe.de
www.schlottgruppe.de
DGAP 07.05.2008
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Language: English
Issuer: schlott gruppe Aktiengesellschaft
Wittlensweilerstraße 3
72250 Freudenstadt
Deutschland
Phone: +49 (0)7441 531-230
Fax: +49 (0)7441 531-204
E-mail: marco.walz@schlottgruppe.de
Internet: www.schlottgruppe.de
ISIN: DE0005046304
WKN: 504630
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, Düsseldorf
End of News DGAP News-Service
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DGAP-News: schlott gruppe confirms provisional results for first half of 2007/8
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