Deutsche Steinzeug Cremer & Breuer AG / Half Year Results
14.08.2009
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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The earnings before interest, taxes, depreciation and amortization (EBITDA)
declined in the first half-year of 2009 by 8.5 million EUR compared to the
previous year's reference period to 1.4 million EUR. The main reason for
this
was the development of the result in the second quarter with a decline of
5.9 million EUR compared to the previous year. The second quarter was
considerably burdened by a decrease of inventories and short-time working
phases for capacity adjustment related to this. While in the second quarter
of 2009 inventory changes of -2.2 million EUR are reported, an increase in
inventories of 3.1 million EUR still was to be recorded in the previous
year's reference period. The result from ordinary operations (before
special effects) declined by 9.2 million EUR compared to the previous year
to
1.1 million EUR.
The decline in turnover in the first half-year of 2009 by 16.7% compared to
the previous year's reference period to 98.7 million EUR is - besides a
considerably reduced demand in Germany and abroad - also due to the
focusing of Deutsche Steinzeug Cremer & Breuer AG on higher-quality product
segments and the abandoning of non-cost-covering low-price products. That
is why the company expects a significantly reduced turnover and is
currently working out a far-reaching cost-cutting program which is supposed
to come into effect during the fourth quarter. In this connection, first
future-oriented talks concerning the reduction of the debt service with the
financial investors have also been commenced.
DGAP 14.08.2009
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Language: English
Issuer: Deutsche Steinzeug Cremer & Breuer AG
ServaisstraÃe 9-31
53347 Alfter-Witterschlick
Deutschland
Phone: +49 (0)228 391-1208
Fax: +49 (0)228 391-301208
E-mail: info@deutsche-steinzeug.de
Internet: www.deutsche-steinzeug.de
ISIN: DE000A0JQ429
WKN: A0JQ42
Listed: Regulierter Markt in Berlin, Frankfurt (General Standard);
Freiverkehr in Düsseldorf, Stuttgart, Hamburg
End of News DGAP News-Service
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DGAP-Adhoc: Deutsche Steinzeug Cremer & Breuer AG:
| Source: EQS Group AG