DGAP-Adhoc: Schaltbau Group revises earnings target for 2014 and announces targets for 2015


Schaltbau Holding AG  / Key word(s): Profit Warning/Forecast

22.11.2014 19:38

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Schaltbau Group revises earnings target for 2014 and announces targets for
2015

Munich, 22 November 2014 - The Schaltbau Group now only expects profit
before financial result and taxes to come in at EUR 26.8 million (previous
forecast: EUR 31 million) and earnings per share of EUR 4.00 (previous
forecast: EUR 4.15) for the fiscal year 2014. The primary reason relates to
a higher-than-expected negative effect resulting from the purchase price
allocation in conjunction with an acquisition executed during the year as
well as further provisions in the Stationary Transportation Technology
segment. The sales target remains unchanged at EUR 425 million.

The Executive Board of Schaltbau Holding AG forecasts an improvement in
sales performance to EUR 464 million for the fiscal year 2015, helped in
particular by growing contributions from ALTE and RAWAG, both of which were
consolidated for the first time in 2014. According to budget, despite a
continued high rate of expenditure to drive growth, profit before financial
result and taxes (EBIT) is forecast to reach EUR 37 million, which is
significantly higher than the EBIT expected for 2014. The purchase price
allocation and considerable project delays in the Stationary Transportation
Technology segment are also expected to have a negative impact in 2015.
Group net profit is therefore predicted to reach EUR 22.3 million,
equivalent to earnings per share of EUR 2.91. The Spanish entities acquired
in 2014 are likely to make a clearly negative contribution to earnings. The
reduction in forecast earnings per share for 2015, compared to the expected
figure for 2014, is also due to the fact that the 2014 figures include the
impact of the revaluation gain from the takeover of RAWAG.


22.11.2014 The DGAP Distribution Services include Regulatory Announcements,
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Language:     English
Company:      Schaltbau Holding AG
              Hollerithstraße 5
              81829 München
              Germany
Phone:        089 - 93005 - 209
Fax:          089 - 93005 - 318
E-mail:       bloch@schaltbau.de
Internet:     www.schaltbau.de
ISIN:         DE0007170300
WKN:          717030
Indices:      SDAX
Listed:       Regulierter Markt in Frankfurt (Prime Standard), München;
              Freiverkehr in Berlin, Düsseldorf, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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