SKW Stahl-Metallurgie Holding AG / Preliminary Results/Dividend
04.03.2009
Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Press release
Record-breaking revenues and earnings in business year 2008 Consolidated revenues up 60% to EUR 377.8 million Operating EBITDA almost doubled to EUR 32.2 million Distribution of unchanged dividend of EUR 0.50 per share planned
Unterneukirchen (Germany), March 4, 2009. SKW Stahl-Metallurgie Holding AG
recorded new record-breaking results for revenues and earnings in business
year 2008 according to preliminary figures. SKW Metallurgie fully met its
guidance, which was increased twice during the business year. The fourth
quarter was more difficult as a result of the underlying economic
conditions - however in spite of this, consolidated revenues in Q4 2008
were also up compared to Q4 2007, which led to a growth of around 60% to
EUR 377.8 million over the year as a whole (previous year: EUR 239.0
million). Operating EBITDA totaled EUR 32.2 million and was thus higher
than the guidance which was initially lifted in August to EUR 28-30 million
and again in November to at least EUR 32 million. This means that operating
profits were up more than 90% compared to the previous year's figure of EUR
16.7 million. Considering the on-going investigations of the European
Commission, the management has decided to book a provision of EUR 6.2
million. Despite that extraordinary expense, the IFRS-based EBITDA was
increased to EUR 26.0 million compared to the previous year figure, which
amounted to EUR 21.1 million including an extraordinary income item of EUR
4.4 million.
In view of this excellent development the Executive and Supervisory Boards
intend to propose to the Annual General Meeting on June 4, 2009 the
distribution of an unchanged dividend of EUR 0.50 per share.
In 2008, SKW Metallurgie managed to further improve the balance sheet
structure. Hence, the equity ratio (incl. minorities) increased from 42.0%
to 42.6%.
'2008 was a new record-breaking year for SKW Metallurgie despite the
difficult underlying conditions at the end of the year. We met our annual
targets and consistently continued our international expansion. That means
that the group is excellently endowed to successfully and profitably master
2009, which will be an even more difficult year,' commented Ines Kolmsee,
SKW Metallurgie's CEO.
International expansion will be consistently continued also in 2009
Business year 2009 will be a very difficult year for the steel industry,
which is the SKW Metallurgie Group's most important customer industry. This
will certainly also have a negative impact on demand for SKW Metallurgie's
products. This demand effect can be balanced to a large extent on the cost
side thanks to the high proportion of variable costs in relation to total
costs. The company is thus confident that it will be able to master also
the current year both successfully and profitably. The SKW Metallurgie
Group will consistently continue its expansion into emerging markets as
well. As a result of the low transparency for all industry participants, it
is not possible to provide a more detailed forecast at the present time.
SKW Stahl-Metallurgie Holding AG will publish its audited annual financial
statements, and annual report for business year 2008 on March 20, 2009 on
the occasion of its financial press conference in Muenchen (Germany). For
further information about our company please refer to our web page
www.skw-steel.com.
Contact person:
SKW Stahl-Metallurgie Holding AG
Christian Schunck
Head of Investor Relations and Corporate Communications
Fabrikstrasse 6
84579 Unterneukirchen
Germany
Tel.: +49 8634 -617596
Fax: +49 8634-617594
E-Mail: schunck@skw-steel.com
Internet: www.skw-steel.com
About SKW Stahl-Metallurgie Holding AG
SKW Metallurgie is the global market leader for chemical additives for hot
metal desulfurization, and for cored wire used in secondary metallurgy. The
Group's products enable steel-makers to efficiently manufacture
high-quality steel products. Clients include the world's leading companies
in the steel industry. The SKW Metallurgie Group has more than 50 years of
metallurgical know how, and currently operates in more than 40 countries.
What is more, the Group is a leading supplier of Quab specialty chemicals,
which are mainly used in the global production of industrial starch for the
paper industry. SKW Metallurgie's operations are structured into the three
business segments 'Cored Wire', 'Powder and Granules', and 'Quab'. The SKW
Metallurgie Group is headquartered in Germany with production facilities in
France, the US (6), Canada, Mexico, South Korea, the Peoples' Republic of
China (2) and India (2 via joint ventures)..
Shares of SKW Stahl-Metallurgie Holding AG have been listed in Frankfurt
Stock Exchange's Prime Standard since December 1, 2006 with ISIN
DE000SKWM013, and have been included in the SDAX index from June 23, 2008.
DISCLAIMER
This press release contains statements on future developments that are
based on currently available information and involve risks and
uncertainties that could cause the actual results to differ from these
forward-looking statements. These risks and uncertainties include, for
example, unforeseeable changes to political and economic conditions, in
particular in the steel and paper production industry, the competitive
situation, changes in interest rates and exchange rates, technological
developments and other risks and unexpected circumstances. SKW
Stahl-Metallurgie Holding AG and its Group companies accept no obligation
to update such forward-looking statements.
SKW Stahl-Metallurgie Holding AG
Christian Schunck
Head of Investor Relations and Corporate Communications
Fabrikstrasse 6
84579 Unterneukirchen
Germany
Tel.: +49 8634 -617596
Fax: +49 8634-617594
E-Mail: schunck@skw-steel.com
Internet: www.skw-steel.com
DGAP 04.03.2009
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Language: English
Issuer: SKW Stahl-Metallurgie Holding AG
Fabrikstrasse 6
84579 Unterneukirchen
Deutschland
Phone: +49 (0)8634 61 7596
Fax: +49 (0)8634 61 7594
E-mail: info@skw-steel.com
Internet: www.skw-steel.com
ISIN: DE000SKWM013
WKN: SKWM01
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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DGAP-News: SKW Stahl-Metallurgie Holding AG: Record-breaking revenues and earnings in business year 2008
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