DGAP-News: Gigaset AG / Key word(s): Quarter Results
Gigaset Financial Results Q3 2011: Business development remains
positive
17.11.2011 / 07:30
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Gigaset Financial Results Q3 2011: Business development remains positive
- Board confirms forecast for 2011
- Significant increase in the earnings key figures
- Continued positive free cash flow
Munich, November 17, 2011 - Due to the positive development of the
operational business, the Executive Board reaffirms its forecasts for 2011
made in the first half of the year, despite the worsening financial crisis.
By consistently focusing on its core business, the Gigaset Group's
profitability continued to increase in the third quarter 2011.
Forecast for 2011 confirmed
Based on the revenues of EUR 368 million generated in the first nine months
which were slightly below last year's level due to the financial crisis and
particularly taking into account the expected strong business performance
in the fourth quarter, the Gigaset Executive Board confirms its forecast
for the financial year 2011. According to the forecast revenues of EUR 540
million are to be generated, the EBITDA is to increase to EUR 57 million
and an EPS of EUR 0.36 (diluted) is to be achieved.
Business development in the third quarter 2011
Gigaset was able to significantly increase profitability in continuing
business in the third quarter despite a slight decline in sales in some
southern European countries and, with an EBITDA to the value of EUR 14.4
million, improved on the result of the exceptionally strong comparative
period last year. The company achieved significant increases regarding the
EBIT and the consolidated profit. The EBIT from continuing operations
amounted to EUR 6.9 million compared to a loss of EUR -0.4 million in the
third quarter 2010. The consolidated profit in the third quarter of the
financial year amounted to EUR 5.1 million compared to a deficit of EUR
-3.5 million in the comparable period last year.
With a cash inflow from operating activities in the third quarter to the
value of EUR 6.7 million and a cash outflow from investing activities to
the value of EUR 2.7 million, the positive free cash flow for the three
months amounted to EUR 4.1 million compared to a negative free cash flow of
EUR -7.8 million achieved in the same period last year.
In view of the expected strong business development in the fourth quarter,
the Executive Board is optimistic that the projected sales and profit
targets for the fiscal year will be achieved: 'As the business development
in the third quarter shows, we remain in a position to significantly
increase the profitability of the group despite the worsened environment in
Europe. We have created the conditions for a sustainable increase in
revenues by consistently expanding our sales efforts in the emerging
markets, Middle East and China. Thanks to our innovative power, we are also
well positioned to continually excite customers with our products.
Moreover, we expect no significant decline in the demand for our products
as a result of the worsening Euro financial crisis in recent months.
Therefore, we continue to expect to achieve the high goals we set ourselves
for 2011,' said Maik Brockmann, Chairman of the Gigaset AG Executive Board,
regarding current developments.
Gigaset AG, Munich, is a worldwide operating company in the
telecommunication and accessories sector. The company is a leading global
producer of cordless phones and Europe's market leader in DECT phones.
Internationally, the premium provider with 1,600 employees is represented
in more than 70 countries and is ranked in third place in its sector.
The Gigaset AG shares are traded in the TecDAX (Prime Standard) of the
Frankfurt Stock Exchange. Symbol: GGS (ISIN: DE0005156004).
Further information is available under http://www.gigaset.ag.
Contact:
Gigaset AG
Kerstin Diebenbusch
Investor Relations
Tel.: +49 (0)89 444456-937
E-Mail: info@gigaset.com
End of Corporate News
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Language: English
Company: Gigaset AG
HofmannstraÃe 61
81379 München
Germany
Phone: +89444456937
Fax: +89444456930
E-mail: kerstin.diebenbusch@gigaset.com
Internet: www.gigaset.com
ISIN: DE0005156004
WKN: 515600
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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146671 17.11.2011
DGAP-News: Gigaset Financial Results Q3 2011: Business development remains positive
| Source: EQS Group AG