CeoTronics AG / Quarter Results
31.03.2009
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 EUR14,140 thousand / EBIT EUR1,593 thousand / Consolidated profit
for the first nine months EUR1,189 thousand / Lower order backlog / Lower
Group targets for fiscal year 2008/2009
CeoTronics AG Audio Video Data Communication (ISIN: DE0005407407),
Adam-Opel-Strasse 6, 63322 Rödermark (Germany), listed in the Prime
Standard and the Technology All Share segment of the Frankfurt Stock
Exchange, recorded consolidated revenues of EUR14,140 thousand in the first
nine months of fiscal year 2008/2009 (in accordance with IFRSs). This was
5.0% (EUR749 thousand) lower than the record revenues of the prior-year
period.
As expected, the consolidated order backlog as of February 28, 2009 fell
only partially by approximately 52% year-on-year.
Consolidated EBIT declined by EUR236 thousand compared with the prior-year
figure for the first nine months, from EUR1,829 thousand to EUR1,593
thousand. Consolidated profit rose slightly to EUR1,189 thousand from
EUR1,181 thousand in the previous year.
Earnings per share for the first nine months of the fiscal year are the
same as the prior-year figure, at EUR0.18.
Gross cash flow increased by EUR10 thousand year-on-year in the nine-month
reporting period, from EUR1,571 thousand to EUR1,581 thousand.
Investments in the first nine months of fiscal year 2008/2009 totaled
EUR688 thousand (previous year: EUR468 thousand). This represents an
increase of 47.0%.
Consolidated equity as of February 28, 2009 amounted to EUR12,916 thousand
(previous year: EUR12,286 thousand); the equity ratio was 72.7% (previous
year: 71.9%).
The Group's targets for fiscal year 2008/2009 have been adjusted downwards
to reflect the current developments in new orders caused by the recession.
The Company now expects revenues of approximately EUR18.5 million and
consolidated profit of approximately EUR1.2 million.
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Information and Explaination of the Issuer to this News:
Revenues in the first nine months of the current fiscal year fell by 5.0%
as against the record figure for the previous year. Nevertheless, 9-month
revenues in 2008/2009 are still the second highest in the Group's history.
This would still put the Group in its target corridor of annual revenues of
EUR20 million. However, incoming orders did not develop in line with this
in the third quarter due to the world's largest economic and financial
crisis in recent decades. The Group also expects a negative development in
the fourth quarter of the current fiscal year. It does not appear as though
the existing revenue target will be achieved because of a combination of
the crisis and the continued delays in the switch to digital radio by
security authorities and organizations in Germany and Northern Europe.
Consolidated revenues of approximately EUR18.5 million are now expected in
fiscal year 2008/2009.
The earnings figures for the first nine months of fiscal year 2008/2009
correspond to revenue development and CeoTronics' existing plans.
The decline in the order backlog as against the prior-year closing date
only partially meets expectations. Two batches of the major order for
CT-DECT JetCom systems from the German Armed Forces - worth some EUR6.1
million - formed part of the extremely high order backlog in the prior-year
period. Nevertheless, at 33.6%, the order backlog as of February 28, 2009
developed positively compared with the reporting date in fiscal year
2006/2007. However, most recent developments in new orders and the outlook
for our markets over the next 6 months indicate negative trends as a result
of the recession.
The level of revenues, earnings, and the order backlog were extremely high
in the record-breaking previous year 2007/2008. As a result, comparable
figures were not expected to be achieved in the following year.
Despite the growing impact of the recession, CeoTronics aims to close the
current fiscal year with consolidated profit of approximately EUR1.2
million.
The number of employees in the Group (including trainees) increased to 156
as of February 28, 2009 (February 29, 2008: 149).
CeoTronics' shares were also unable to escape the generally very negative
trend on the stock markets. Nevertheless, the 40.6% decline in the price of
CeoTronics' shares was considerably less pronounced than the fall in the
corresponding benchmark indices during the first nine months of fiscal year
2008/2009. The TECDAX (-47.9%), the Technology All Share (-47.6%), and the
GEX (-49.1%) indices all recorded significantly worse results in the period
under review.
'In light of the fact that our priority markets were impacted by the global
financial and economic crisis for much of the reporting period (June 1,
2008 - February 28, 2009), we can be satisfied with our nine-month revenues
and earnings', said Thomas H. Günther, Chairman of the Board of Management.
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 31.03.2009
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Language: English
Issuer: CeoTronics AG
Adam-Opel-Straße 6
63322 Rödermark
Deutschland
Phone: +49 (0)6074 8751-724
Fax: +49 (0)6074 8751-720
E-mail: investor.relations@ceotronics.com
Internet: www.ceotronics.com
ISIN: DE0005407407
WKN: 540740
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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DGAP-Adhoc: CeoTronics AG: Consolidated Interim Report for the First Nine Months of Fiscal Year 2008/2009
| Source: EQS Group AG