schlott gruppe Aktiengesellschaft / Quarter Results
06.08.2008
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 third quarter and first
nine months of 2007/8
- Business develops in line with expectations
- Execution of cost-reduction programme on track at all facilities; savings
expected as early as current financial year
- Annual forecast reaffirmed
Freudenstadt, August 6, 2008. schlott gruppe progressed in line with
expectations in the third quarter and first nine months of the 2007/8
financial year and confirms its provisional results published on July 23.
The full report on the third quarter and first nine months of the 2007/8
financial year can be accessed from the company website of schlott gruppe
(www.schlottgruppe.de/Investor Relations/Financial Reports).
Value-added sales at Group level amounted to 175.8 million in the first
nine months of 2007/8, compared with 186.4 million for the same period a
year ago, while sales revenue totalled 348.3 million for the period after
350.1 million in the first nine months of the previous year. schlott
gruppe is currently implementing its cost-reduction programme as originally
scheduled. At 9.8 million, the largest part of the approximate total of
15 million in non-recurring charges budgeted for the annual period was
recognised as expense in the first nine months. Excluding these one-time
charges, the Group generated a loss before taxes of 3.0 million after nine
months, compared to positive EBT of 4.3 million in the same period a year
ago. Including one-time charges, the loss before taxes stood at 12.8
million.
The post-tax loss amounted to 8.9 million after the first nine months,
compared to a profit of 7,9 million from continued operations reported for
the same period a year ago. The loss per share was 1.47, compared with
earnings of 1.28 per share last year. Additionally, earnings per share
from discontinued operations for the same period a year ago were 0.17.
Value-added sales in the third quarter of 2007/8 amounted to 53.7 million
at Group level, compared with 56.4 million for the same period a year ago.
Revenue increased to 109.2 million, up from 105.2 million. Before
non-recurring expenses, EBT for the third quarter stood at minus 3.5
million, after minus 3.6 million last year. Including non-recurring
expenses, EBT was minus 7.0 million. The post-tax loss amounted to 4.4
million in the third quarter, compared with a loss from continued
operations of 2,1 million posted a year ago. The loss per share was 0.73,
compared with a loss of 0.34 per share last year. Additionally, earnings
per share from discontinued operations for the third quarter of the
previous year were 0.05.
The print unit generated value-added sales of 173.8 million in the first
nine months of 2007/8, after 183.2 million posted for the same period a
year ago. After the first nine months EBT before non-recurring expenses
stood at minus 1.1 million; including non-recurring expenses, it amounted
to minus 10.4 million, compared with positive EBT of 7.1 million posted
for the first nine months of 2006/7. In the third quarter of 2007/8
value-added sales totalled 53.5 million after 55.3 million. EBT before
non-recurring expenses stood at minus 3.8 million; including non-recurring
expenses, it was minus 6.8 million. EBT for the third quarter of the
previous financial year had been minus 2.7 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 third quarter and the first nine months.
schlott gruppe continued to pursue its cost-reduction programme over the
course of the reporting period. During the third quarter, the Group
concluded negotiations concerning the reconciliation of interests and a
social compensation plan at its site in Nuremberg, thus achieving a major
landmark. Having already finalised agreements for the company's sites in
Freudenstadt and Landau, schlott gruppe is now in a position to meet the
targets it had set itself for the reduction of staff costs at its largest
operating facility too. The headcount at schlott gruppe's Nuremberg site is
to be scaled down by around 100.
The positive effects of the Group-wide cost-reduction programme will offset
as early as the current financial year a certain proportion of the price
reductions already conceded resulting from a continued difficult market -
as well as those yet anticipated by the company. 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. The fourth quarter (1.7.
30.9.) is generally considered one of the more buoyant periods of the
financial year. The current volume of orders suggests that schlott gruppe
will again be operating at high capacity in the final three months of the
financial year, which will be complemented by on-target earnings
performance.
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
Tel.: +49 7441 531-230
Fax : +49 7441 531-204
marco.walz@schlottgruppe.de
www.schlottgruppe.de
DGAP 06.08.2008
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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
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