elexis AG / Quarter Results
07.05.2009
Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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+++ Business model of elexis Group reduces the effects of economic
downturn: operating profit (EBIT) amounts to euro 1.4 million in the 1st
quarter 2009
+++ Sales break-even is being reduced through cost reduction programmes
+++ Technological and market leadership is being extended through
innovation offensive
Wenden, May 7, 2009 - The elexis Group achieved positive results in spite
of the continuation of the difficult general economic conditions during the
first three months of the current fiscal year. As expected the results were
significantly lower than the comparative amounts during the first three
months of 2008, which started as a record year. The diversification of the
branches moderated the economic effects for the elexis Group. The Steel
segment proved to be stable from an operative point of view, whilst Factory
Automation, Printing and Factory Automation, Plastics could not avoid the
trends within their branches. The Management Board reacted with cost
reduction measures to the sharp economic downturn. At the same time an
innovation offensive was started in order to expand further the strong
market position and to guarantee future growth. These measures should
assure the sustainable profitability of the elexis Group.
EBIT and net income for the period
The operating profit (EBIT) of the elexis Group amounted during the 1st
quarter 2009 to a total of euro 1.4 million. During the first three months
2008 EBIT had amounted to euro 6.4 million. During the period under report
the Factory Automation, Steel and Printing division contributed 88% of the
sales of the overall Group. The Steel and Printing sector thus underpinned
its major importance for elexis. Earnings before interest and taxes (EBIT)
amounted in Factory Automation, Steel and Printing to euro 2.3 million
following euro 5.5 million during the 1st quarter 2008. This decline is
attributable above all to the weak economy in the printing branch. During
the first three months 2009 Factory Automation, Plastics reported an
operating result (EBIT) in the amount of euro -0.4 million following euro
1.3 million in the comparative prior year quarter.
In total, the elexis Group achieved earnings after interest and taxes
(consolidated net income for the period after deduction of minority
interests) in the amount of euro 0.6 million. In the comparative period of
the prior year a net income for the period in the amount of euro 4.0
million had been reported.
Incoming orders and sales
During the period under report incoming orders amounted to a total of euro
36.1 million. This constituted a decline of almost 25% versus the 1st
quarter 2008. The recession thus had a lesser effect on the elexis Group
than on the German machinery and equipment manufacturing sector as a whole.
With regard to incoming orders in January and February 2009 this sector
reported a decline totalling 49%. Sales declined in the elexis Group by 21%
to euro 33.2 million. During the initial quarter of this year incoming
orders exceeded sales by almost 9%.
Shareholders' equity, equity ratio and other relevant key data
As at March 31, 2009 the elexis Group reported shareholders' equity in the
balance sheet in the amount of euro 71.1 million. During the period under
report the equity ratio increased from 53.1% to 53.5%. As planned, the
liabilities to banks were reduced from euro 7.4 million as at December 31,
2008 to euro 7.0 million as at March 31, 2009. In addition, elexis reported
net liquidity of euro 15.1 million. These above-mentioned key data form a
solid financial basis in order to support consistently the further
development of the elexis Group.
Cost reduction programme and innovation offensive
The elexis Group reacted immediately with cost reduction programmes to the
difficult general economic conditions. The investments were reduced to euro
0.5 million during the 1st quarter 2009. These were thus 65% lower than the
comparative amount of the prior year. In addition, short working time was
introduced in the segment of Factory Automation, Printing. Following the
reduction of the existing flexible working time accounts and remaining
vacation allowances short working time is also planned in the Plastics
division as from May 2009. Furthermore, the number of employees was reduced
to 148 as at March 31, 2009. At the beginning of the year the division had
employed 164 persons.
elexis has started an innovation offensive in all strategic business units.
The objective is to penetrate existing markets more profoundly with new and
further developed product innovations as well as to develop additional
markets. The emphasis of innovations is placed in particular on the
development and manufacture of new products with a return on investment of
about one year. As a result elexis is creating advantages for the placement
of investment orders and is assisting our customers in respect of their own
cost reduction. The consistent extension of the innovations serves to
strengthen the market positions in the sales markets which are relevant for
elexis.
Outlook
The companies of the elexis Group are technology leaders in their relevant
branches and markets and have either world market leadership or a
significant market position. It is our intention to maintain this market
position in spite of the change in market conditions during 2009. It is
currently observed that the maintenance of market shares can be attained in
part only through the level of the sales prices of the products. On the
basis of its solid financial structure, its strong market position as well
as its high level of innovation strength the elexis Group has a stable
business model in order to position itself in the face of the general
economically difficult conditions. Nevertheless, the recession will also
have a negative effect on the course of business during the next few
quarters.
The full results of the 1st quarter 2009 as well as the quarterly financial
report for the first three months 2009 can be accessed immediately under
www.elexis.de.
The shares of elexis AG (ISIN: DE 000 508 500 5) are listed in the Prime
Standard at the Frankfurt Stock Exchange. elexis AG is one of the companies
included in the SDAX.
Please address enquiries to:
Gabriele Bornemann
Manager Investor Relations
elexis AG
Industriestrasse 1
D-57482 Wenden
Tel.: +49 (0) 2762 / 612 - 136
Fax: +49 (0) 2762 / 612 - 135
Email: info@elexis.de
DGAP 07.05.2009
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Language: English
Issuer: elexis AG
Industriestraße 1
57482 Wenden
Deutschland
Phone: +49 (0)2762 612 - 130
Fax: +49 (0)2762 612 - 135
E-mail: eicke@elexis.de
Internet: www.elexis.de
ISIN: DE0005085005
WKN: 508500
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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DGAP-Adhoc: elexis AG:final results of the 1st quarter 2009
| Source: EQS Group AG