Kontron AG / Half Year Results
27.07.2009
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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- Order book in excess of EUR 300 million, design wins totaling
EUR 196 million
- Operating cash flow of EUR 7.4 million
- Gross margin raises to above 30 percent in the second quarter
Eching, Munich, July 27, 2009. Despite the further deterioration of the
global economic crisis, Kontron AG generated a slight increase of around 4
percent in revenue to EUR 111.0 million in the second quarter of 2009
compared with the first three months of the current financial year (EUR
106.6 million). This means that 2009 first-half sales amounted to EUR 217.6
million, compared with EUR 232.6 million in the previous year's first half.
This decline of around 6 percent, which is due, among other things, to
exchange-rate effects (depreciation of Eastern European currencies and of
the pound sterling by up to 30 percent), is within the scope of the Kontron
Executive Board's budgets. The order book of EUR 301.4 million remains at a
very high level, and is only slightly below the record level of the
prior-year period (EUR 306.7 million). In terms of design wins, which are
important for the medium-term forecast, an increase of even as much as 30
percent was achieved, with a volume of EUR 196.4 million as of the end of
the second quarter of 2009, compared with the previous year's figure of EUR
150.8 million.
As was the case with revenue, Kontron AG grew its second-quarter earnings
compared with the first three months of the current financial year. EBIT
amounted to EUR 8.0 million compared with EUR 7.0 million in the first
quarter. In the first half of the year, EBIT totaled EUR 15.0 million
(prior-year period: EUR 21.5 million).
The decline reflects weakness in the vertical industrial automation and
infotainment markets and the implementation of the Profit Improvement
Program, which occurred more rapidly and more intensively than originally
planned, and the related restructuring costs. In the course of these
measures, the number of Kontron AG employees also fell in the first half of
2009, by 121 persons to a current level of 2,415. Second-quarter net income
attributable to our shareholders amounted to EUR 5.5 million (previous year
period: EUR 8.0 million). The restructuring measures of the first and
second quarters, which place a burden on short-term earnings, are already
yielding fruit: production costs fell to EUR 15.5 million in the first half
of the year, compared with EUR 16.9 million in the prior-year period. Total
costs fell from EUR 54.8 million in the first half of 2008 to EUR 51.0
million in the current financial year. The cost saving was particularly
significant in the second quarter. Costs in the second quarter of the
current financial year fell to EUR 24.7 million, compared with EUR 29.4
million in the second quarter of the previous financial year.
Receivables and tax prepayments, which were higher on a reporting-date
basis, had a negative impact on second-quarter operating cash flow.
Nevertheless, a result of EUR 7.4 million for the first half year of the
current financial year remains at a good level compared with the prior-year
period (EUR 6.7 million). The cash position fell from EUR 58.8 million as
of the end of the first quarter to EUR 41.9 million as of the end of the
second quarter as a result of the increase in investments of more than EUR
14.3 million and the payment of the dividend of over EUR 10 million.
Kontron AG retains a highly solid asset and financial position, and
consequently also good liquidity, which is particularly requisite in
periods of crisis. The Kontron Executive Board is not assuming that the
global economy will improve in the short term. Thanks to our broad sector
diversification, our presence on all important markets, as well as the
ongoing outsourcing trend, the Kontron Executive Board nevertheless
believes that the company continues to enjoy the best opportunities to
operate profitably in the market, and to gain further market shares.
Investor Relations: For further information:
Gaby Moldan Dr. Udo Nimsdorf
Kontron AG Engel & Zimmermann AG
Oskar-von-Miller-Str. 1, Agentur für Wirtschaftskommunikation
D-85386 Eching Schloss FuÃberg, Am Schlosspark 15,
Tel:+498165/77212,Fax+498165/77222 D-82131 Gauting
Email: Gaby.Moldan@kontron.com Tel. +4989-89 35 633,
Fax: +4989-89 39 84 29
Email : info@engel-zimmermann.de
DGAP 27.07.2009
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Language: English
Issuer: Kontron AG
Oskar-von-Miller-Str. 1
85386 Eching
Deutschland
Phone: 08165-77-225
Fax: 08165-77-222
E-mail: martin.przybyla@kontron.com
Internet: www.kontron.com
ISIN: DE0006053952
WKN: 605395
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Hannover, Düsseldorf, Hamburg,
Stuttgart
End of News DGAP News-Service
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DGAP-Adhoc: Kontron AG reports revenue of EUR 218 million and EBIT of EUR 15 million in the first half year
| Source: EQS Group AG