schlott gruppe Aktiengesellschaft / Final Results/Dividend
14.01.2009
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 AG Supervisory Board meets to adopt fi-nancial statements
- Provisional figures confirmed for financial year 2007/8
- Proposal of dividend of 0.50 per share to AGM
- Sigmund Kiener to leave Supervisory Board for personal reasons after the
2009 AGM but remain a major shareholder of schlott gruppe
Freudenstadt, 14 January 2009. Adoption of financial statements for 2007/8.
In a meeting held today, the Supervisory Board of schlott gruppe AG
approved the annual financial statements of both the Group and the Company
for 2007/8 and thus adopted the annual financial statements of the Company.
This confirms the provisional results for the financial year 2007/8
(October to September) as reported on 5 November 2008.
Consolidated value-added sales (VAS) for 2007/8 stood at 239.3 million,
compared to 251.7 million for the previous year. Group revenue was 468.8
million, after 482.2 million last year. Before deducting expenditure on
the cost-reduction programme, EBT remained in positive territory at 0.5
million, compared to 11.0 million for the previous year. The results are
therefore in line with schlott gruppes forecast targets for the financial
year 2007/8.
Expenditure on the cost-reduction programme, including the book loss of
4.9 million from disposal of the Groups sachsendruck subsidiary, was
18.0 million in the reporting year. After deducting this figure, EBT stood
at -17.5 million. Accordingly, earnings per share for the year under
review came to -2.71, compared to 3.04.
Figures for the consolidated group predominantly reflect the perform-ance
of the print division, which achieved VAS of 236.2 million, compared to
247.8 million in the previous year. EBT before expenses related to the
cost-reduction programme stood at 2.3 million, as opposed to 12.1 million
a year ago. After taking into account the non-recurring expense of 17.5
million for implementation of the cost-reduction programme, the figure for
EBT was -15.2 million.
EBT for the corporate services division, which solely provides in-house
services for the Group, also lay within expectations.
The Groups net debt was substantially reduced to 153.2 million (previous
year: 168.4 million) out of the positive free cash flow for the financial
year 2007/8 of 20.0 million (previous year: 11.8 million).
Without the contribution of 14 million made by sachsendruck to
consolidated VAS, schlott gruppe anticipates a figure for VAS of over 215
million in the current financial year.
It is clear from the results for the financial year under review that the
cost-reduction programme has already helped to streamline staffing costs by
a significant margin. In turn, this will help to cushion the impact of
greater pressure on prices within the industry.
The savings made as a result of the cost-reduction programme will take full
effect during the course of FY 2008/9 and bring about a further major
improvement, especially in terms of staff costs. However, on the
expenditure side, energy and raw materials costs are much higher, and
market conditions remain extremely challenging. Overall, the Company
anticipates a modest but positive figure for EBT despite the renewed fall
in VAS.
To ensure that schlott gruppe can sustainable achieve a satisfactory level
of profitability, ongoing cost-reduction measures will remain on the agenda
across the entire Group in addition to the cost-reduction programme of the
reporting year.
Further information about the year under review and the Groups fore-casts
for 2008/9 will be available at the financial results press confer-ence and
the analysts conference to be held by schlott gruppe on 28 January 2009 in
Stuttgart and Frankfurt.
Proposal to Annual General Meeting of Shareholders for appropria-tion of
profit
As previously announced on 5 November 2008, the Management Board and the
Supervisory Board will submit a proposal to the Annual General Meeting of
Shareholders on 3 March 2009 for a dividend of 0.50 per share (previous
year: 1.00). The governing boards are thus continuing a long-established
dividend policy based on stability, cash flow and earnings performance.
Changes to the Supervisory Board
schlott gruppe also wishes to announce that Mr. Sigmund Kiener will, at his
own request and as planned, step down as member and chairman of the
Supervisory Board of schlott gruppe AG following the Annual General Meeting
in March 2009.
In his capacity as a member of the Supervisory Board, Sigmund Kiener has
been with schlott gruppe for over ten years. He took over as Chair-man of
the Supervisory Board on 13 February 2007 and established strong links with
the company as a shareholder.
He played a major role in the development of schlott gruppe into one of
Europes leading providers of printing services and was closely involved in
the wide-ranging decisions that saw the Group expand in Germany and other
European countries.
Mr. Kiener explained his departure: 'My decision to step down as a member
of the Supervisory Board at schlott gruppe is based entirely on personal
reasons. I have very much enjoyed working for schlott gruppe over such a
long period. The company is in an extremely good position to benefit from
current changes in the printing industry. That is why I have recently
increased my own holding in schlott gruppe by a signifi-cant amount.
Neither that nor my close links to schlott gruppe will change as a result
of my resignation from the Supervisory Board.'
Both Mr. Kieners colleagues on the Supervisory Board and the Manage-ment
Board have expressed their regret at his decision to leave. They would like
to take this opportunity to thank him for the close an trustful
relationship and the high level of personal commitment he has shown to
schlott gruppe. They wish him every success and happiness for the future.
The Supervisory Board of schlott gruppe will submit a proposal to the 2009
Annual General Meeting for the appointment of Mr. Fritz-Jürgen Heckmann as
a new member. Mr. Heckmann, 52, is married with two children. As a lawyer,
he is a partner in the firm Kees Hehl Heckmann (Stuttgart), which
specialises in business law. The Supervisory Board therefore stands to
benefit from his considerable expertise. Mr. Heck-mann has also gained
experience over many years from his work on a number of supervisory and
advisory boards in the print industry and other sectors.
Notes to financial data:
Alongside 'revenue/sales', schlott gruppe uses so-called 'value-added
sales' (VAS) as a financial indicator both in its external
communica-tions 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 custom-ers is
not included in the accounts of schlott gruppe. In the 2007/8 financial
year, the so-called paper provision ratio stood at 72.0 per cent. As a
financial indicator, 'value-added sales' eliminates fluctua-tions relating
to paper supplied by customers, thus reflecting the actual sales
performance.
DGAP 14.01.2009
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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, Hamburg, Düsseldorf, Stuttgart, München
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