schlott gruppe Aktiengesellschaft / Quarter Results/Preliminary Results
21.07.2010 09:00
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schlott gruppe announces preliminary results for third quarter and first
nine months of 2009/10
- Printing sector fails to benefit from upturn
- Execution of restructuring programme remains on track
- Positive effects at operating level
Freudenstadt, 21 July 2010. schlott gruppe today announces its preliminary
results for the third quarter ended 30 June 2010 as well as the first nine
months of the 2009/10 financial year.
In contrast to other segments of the manufacturing sector, the economic
upturn has yet to reach the printing industry. In fact, the sentiment
within the sector as a whole has deteriorated markedly in recent weeks.
Within this context, the market for printed products continues to be
dominated by anaemic demand and relentless pressure on prices. Despite the
more confident mood in the advertising sector, the market for classic print
products currently remains lacklustre.
Business during the third quarter of the 2009/10 financial year was again
dominated by these challenging market conditions. Encouragingly, the
restructuring programme currently being implemented by schlott gruppe has
been producing the positive earnings effects predicted by the company.
Overall, business developed at the lower end of expectations.
In the third quarter, schlott gruppe generated revenue of EUR66.7 million,
compared to EUR83.0 million in the same period a year ago. Value-added
sales (VAS) fell from EUR44.7 million last year to EUR37.1 million in the
reporting quarter. As regards this year-on-year decline, it is important to
note that schlott gruppe scaled back its gravure printing capacities by 20
per cent during the second quarter of the current financial year as part of
its extensive restructuring programme. These measures came to full effect
in the third quarter.
Total tonnage processed fell by 14.5 per cent to 105.0 thousand tonnes in
the third quarter, down from 122.8 thousand tonnes in the same period a
year ago and 8.3 per cent lower than in the second quarter of the current
financial year.
The positive effects of the current restructuring programme are reflected
in the Group's operating result for the third quarter: despite the decline
in VAS compared to the second quarter of the current financial year, EBIT
before restructuring charges improved to EUR-3.4 million, after EUR-4.1
million posted for the second quarter of 2009/10 (Q3 2008/9: EUR-2.5
million). Including restructuring charges of EUR6.0 million, EBIT for the
third quarter of 2009/10 stood at EUR-9.4 million, compared to EUR-8.3
million in the second quarter (Q3 2008/9: EUR-4.0 million). EBT for the
reporting quarter was EUR-7.0 million before restructuring expenses,
compared to EUR-6.8 million in the previous quarter (Q3 2008/9: EUR-6.4
million). Including these expenses, EBT totalled EUR-13.0 million, as
opposed to EUR-11.1 million in the second quarter (Q3 2008/9: EUR-7.8
million).
In the first nine months, schlott gruppe generated revenue of EUR231.5
million, compared to EUR278.6 million a year earlier, and VAS of EUR124.9
million, down from EUR146.0 million in the previous year. In total, the
Group printed 352 thousand tonnes of paper, compared with 395 thousand
tonnes in the same period a year ago. EBIT before restructuring expenses
was EUR-6.5 million, down from EUR-1.2 million in the previous year. EBT
before restructuring expenses was EUR-15.5 million, after EUR-7.1 million a
year ago; including restructuring expenses, EBT was EUR-28.3 million,
compared to EUR-9.2 million.
The print segment generated VAS of EUR36.8 million in the third quarter,
down from EUR44.2 million a year ago; EBT before restructuring expenses was
EUR-5.4 million, compared to EUR-5.2 million, while EBT after restructuring
expenses stood at EUR-8.7 million, compared to EUR-5.3 million.
In the nine-month period, the print segment achieved VAS of EUR123.6
million, down from EUR143.6 million, and EBIT of EUR-8.2 million, compared
to EUR-2.9 million a year ago; EBT before restructuring expenses was
EUR-11.5 million, compared to EUR-4.3 million a year ago, while EBT after
restructuring expenses stood at EUR-16.8 million, compared to EUR-4.8
million a year ago. The corporate services segment, whose activities are
limited to providing intragroup services, performed in line with
expectations.
The definitive results will be presented by schlott gruppe on 4 August 2010
in its report on the third quarter and first nine months. This report will
also include details of the current competitive environment and ongoing
restructuring measures.
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 2008/9 financial year,
the paper provision ratio stood at 75.2 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
Wittlensweilerstr. 3
72250 Freudenstadt
Germany
Phone: +49 7441 531-230
Fax : +49 7441 531-204
mail : marco.walz@schlottgruppe.de
www.schlottgruppe.de
21.07.2010 09:00 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
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Language: English
Company: schlott gruppe Aktiengesellschaft
WittlensweilerstraÃe 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, Düsseldorf, München, Hamburg, Stuttgart
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DGAP-News: schlott gruppe announces preliminary results for third quarter and first nine months of 2009/10
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