Klöckner-Werke AG / Quarter Results
04.11.2009
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* Incoming orders EUR 537,8 million (Previous year: EUR 692,3 million)
* Sales EUR 545,1 million (Previous year: EUR 788,6 million)
* EBIT EUR - 67,0 million (Previous year: EUR 28,0 million)
Frankfurt am Main, 4 November 2009 - The development of the Klöckner
Group's incoming orders in the first nine months of 2009 suggests that the
industry has overcome the worst of the economic crisis. Although the
figures remain substantially lower than in the previous year, the pace of
the downturn has slowed: incoming orders were down 32.1% year-on-year at
the end of the first quarter, 27.0% at the end of the first six months and
22.3% after the first three quarters of the current financial year.
All in all, the Klöckner Group recorded incoming orders of EUR537.8 million
in the first nine months of 2009, compared with EUR692.3 million in the
same period of the previous year. Sales remained significantly lower on a
year-on-year basis at EUR545.1 million (previous year: EUR788.6 million).
Due to the long-term order processing that is typical for the industry,
which often lasts several months on account of the size of the projects
concerned, it can take some time before a recovery in the order situation
is reflected in sales.
The low level of sales and margins resulted in a substantially negative
consolidated earnings situation. Although various measures were implemented
to reduce operating expenses, this was not enough to fully offset the
extensive impact of the downturn in incoming orders over the course of the
year. EBIT declined to EUR 67.0 million (previous year: EUR28.0 million).
Similarly, the consolidated net result for the period was clearly negative
at EUR 73.4 million, down EUR84.4 million on the same period of the
previous year.
Compared with some other mechanical engineering companies, Klöckner's
business is benefiting from the possibility of regeneration in the medium
term. The main area of business - filling and packaging technology - is not
experiencing any sales problems of a fundamentally structural nature.
According to market studies, the global packaged drinks volume is expected
to continue to increase on the back of the growth in the world's population
and steadily rising demand for comfortable and hygienic drinks consumption.
Based on current information, the fourth quarter of 2009 will not see a
significant turnaround in the sales and earnings development of the
Klöckner Group. Even a continued recovery in the order situation between
now and the end of the year would not have a tangible impact on the figures
for the current financial year on account of the length of the projects
concerned. Accordingly, 2009 as a whole is likely to see a sharp downturn
in sales and, accordingly, a substantially weaker earnings situation than
in 2008, as has been demonstrated by the results for the year to date. The
group expects to see a recovery in 2010 compared with 2009, albeit with a
market volume that is still considerably smaller than in the extremely
strong years of 2007 and 2008.
The Management Board
Contact:
Klöckner-Werke AG
Andrea Spiekermann
Media/Investor Relations
Telefon: +49 (0)69 90026-510
Fax: + 49 (0)69 90026-44-510
kommunikation@kloecknerwerke.com
04.11.2009 |[![CDATA[|[a href="http://www.dgap.de"|]Financial News transmitted by DGAP|[/a|]]]|]
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Language: English
Company: Klöckner-Werke AG
Postfach 17 04 55
60078 Frankfurt am Main
Deutschland
Phone: +49 (0)69 900 26 0
Fax: +49 (0)69 900 26 110
E-mail: kommunikation@kloecknerwerke.de
Internet: www.kloecknerwerke.de
ISIN: DE0006780000, DE000A0WMQY3
WKN: 678000, WKN A0WMQY
Listed: Regulierter Markt in Berlin, Frankfurt (Prime Standard),
Düsseldorf, Hannover, München, Hamburg, Stuttgart
End of News DGAP News-Service
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DGAP-Adhoc: Klöckner-Werke AG: Key financial data for the 9-month-report 2009
| Quelle: EQS Group AG