Ad-hoc | 10 March 2009 07:52
technotrans AG / Final Results
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Revenue for the technotrans group fell to EUR 141.7 million (previous year
EUR
153.2 million) for the financial year 2008. The targets, which had been
revised in view of the economic situation already after the first half of
2008 to EUR 140 to 145 million, were therefore achieved. The downturn
affected exclusively the larger Technology segment, which posted revenue of
only EUR 103.8 million as against EUR 116.9 million in the previous year, a
drop of 11.2 percent. The decline for the group as a whole was cushioned
somewhat by growth of 4.4 percent for the Services segment, from EUR 36.3
million to EUR 37.9 million.
The drop in revenue by EUR 11.5 million or 7.5 percent - compounded by
various non-recurring factors like expenses for drupa and restructuring as
well as impairment costs - means that earning as a whole are well down on
the figures for recent years. The assumptions on the anticipated
development of revenue in the current market environment were one of the
key factors behind the impairment of EUR 7.5 million.
Earnings before interest and taxes (EBIT) was in balance at EUR 0.0 million
as a result of the aforementioned factors. The key figure EBITDA, which
does not include depreciation and amortisation, was likewise well down at
EUR
12.2 million (previous year 18.2 million) in view of the revenue shortfall.
The technotrans Group reported a net loss of just under EUR -2.9 million
for
the 2008 financial year (previous year net profit of EUR 9.1 million).
Basic
earnings per share according to IFRS consequently amounted to EUR -0.45
(precious year EUR 1.33). In order to support the substance of the company
and to safeguard liquidity in the current environment the dividend shall be
omitted for the first time.
Outlook
At the start of the 2009 financial year, all the signs are that the global
economy entered a recession. The worldwide reluctance to invest has had a
profound impact on the order books of German printing press manufacturers.
As technotrans is a systems supplier whose systems and devices are by and
large supplied already factory-fitted to new printing presses, it has seen
its Technology segment suffer in particular measure from this development.
A further decline in revenue is expected in the 2009 financial year, though
the extent of this drop cannot be reliably predicted in view of the
volatile environment at the start of this year. In view of the gradually
deteriorating market environment, a comprehensive package of measures had
been introduced already at an early stage with the aim of stabilising and
optimising the operating result. Management believes that this approach
will equip the company to absorb the impact of the current slackness in the
market and if necessary, is absolutely determined to continue responding
very flexibly to all the challenges that could arise. The aim is to steer
the company in such a way that its operations always and under all
circumstances show a profit, even in the midst of the toughest economic
crisis in its history.
The full press release as well as the Annual Report are available at
www.technotrans.com, Investor Relations.
Thessa Roderig, Investor Relations, mobile +49 171 310 82 98.
10.03.2009 Financial News transmitted by DGAP
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Language: English
Issuer: technotrans AG
Robert-Linnemann-Str. 17
48336 Sassenberg
Deutschland
Phone: +49 (0)2583 - 301 - 1000
Fax: +49 (0)2583 - 301 - 1030
E-mail: info@technotrans.de
Internet: http://www.technotrans.de
ISIN: DE000A0XYGA7
WKN: A0XYGA
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart
End of News DGAP News-Service
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