Ad-hoc | 17 August 2007 17:33
CeoTronics AG / Final Results/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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Revenues €17,939 thousand / EBITDA €2,437 thousand / EBIT €1,919 thousand /
EBIT margin 10.7% / Profit for the year €1,047 thousand / Gross cash flow
€1,565 thousand / scheduled development of Q4 / Order backlog up 147.1% /
Proposed dividend per share: €0.30
CeoTronics AG Audio Video Data Communication (ISIN: DE0005407407),
Adam-Opel-Strasse 6, 63322 Rödermark, Germany, listed in the Prime Standard
and in the Technology All Share index of the Frankfurt Stock Exchange,
generated consolidated revenues of €17,939 thousand in fiscal year
2006/2007. The Company only narrowly failed to match its record revenues
figure from the previous year of €18,060 thousand (-0.7%).
EBITDA (Earnings before Interest, Taxes, Depreciation and goodwill
Amortization/impairment) increased by €198 thousand compared with the
prior-year period, from €2,239 thousand to €2,437 thousand. EBIT rose by
€221 thousand from €1,698 thousand to €1,919 thousand.
Consolidated profit for fiscal year 2006/2007 (in accordance with IFRSs)
amounted to €1,047 thousand, up €68 thousand or 6.9% as against the
previous year (€979 thousand). Consolidated profit attributable to parent
company shareholders (excluding minority interests) amounted to €1,046
thousand for the past fiscal year (previous year: €961 thousand). Earnings
per share increased by €0.04 from €0.44 to €0.48.
Consolidated equity as of May 31, 2007 amounted to €11,705 thousand, while
the equity ratio was 66.8% (previous year: 79.5%).
Gross cash flow for the period under review improved by €45 thousand
year-on-year, from €1,520 thousand to €1,565 thousand.
The Group's order backlog increased to €8,478 thousand as of the reporting
date, up 147.1% on the previous year’s high level.
The number of employees (including trainees) as of May 31, 2007 rose by 8
as against the prior-year period, from 136 to 144.
In its meeting on August 17, 2007, the Supervisory Board concurred with the
Board of Management in proposing to the General Meeting a €0.30 per share
dividend payment (previous year: €0.30) from the parent company’s net
retained profit of €2,610 thousand.
Q4 2006/2007 recorded a fall in consolidated revenues of €697 thousand,
from €4,600 thousand to €3,903 thousand, and an improvement in EBITDA of €8
thousand, from €394 thousand to €402 thousand, compared with Q4 2005/2006.
EBIT decreased by €83 thousand, from €287 thousand to €264 thousand. Profit
for the quarter fell by €111 thousand, from €185 thousand to €74 thousand.
Gross cash flow declined by €98 thousand year-on-year for the quarter from
March 1 to May 31, from €310 thousand to €212 thousand. Quarterly earnings
per share fell to €0.04, compared with €0.09 in the prior-year quarter.
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Information and Explaination of the Issuer to this News:
CeoTronics generated consolidated revenues of €17,939 thousand in fiscal
year 2006/2007, almost matching the record figure for the previous year (an
increase of 13.7% at the time). The Company narrowly missed its revenue
target by 1.4% due to a number of orders that were received later than
planned (e.g., the German Armed Forces' order for CT-DECT JetCom systems)
and to delayed decisions to award other projects.
CeoTronics also noted a certain reluctance to invest on the part of German
security authorities and organizations (BOS – Behörden und Organisationen
mit Sicherheitsaufgaben) due to the upcoming switch to digital radio.
Despite missing its revenue target by €261 thousand, CeoTronics slightly
exceeded its consolidated earnings target of €1,040 thousand. At €1,047
thousand (up 6.9% year-on-year), the Company generated the second-highest
consolidated profit (in accordance with IFRSs) in its history in fiscal
year 2006/2007. EBITDA and EBIT reached new record levels.
As expected, cash and cash equivalents declined from their high level as of
May 31, 2006; however, at €783 thousand they remain sufficiently high
despite the acquisition of real estate used by the Company worth a total of
€2,490 thousand. This was the main reason for the 12.7% fall in the equity
ratio year-on-year to 66.8% as of May 31, 2007 (previous year: 79.5%).
Investments in fixed assets increased by €2,546 thousand (+496%) as against
the prior year to €3,059 thousand.
The extremely high order backlog as of May 31, 2007 (€8,478 thousand) is a
new record and is dominated by the €5,500 thousand order for CT-DECT JetCom
systems from the German Armed Forces.
As Q4 2005/2006 closed particularly successfully, CeoTronics was unable to
match the strong prior-year figures in the fourth quarter of fiscal year
2006/2007.
'In addition to the encouraging order backlog at the end of the fiscal
year, we are pleased with the orders we have received to date and the
projects currently being negotiated or prepared, as well as the decision by
the German Interior Ministers (Conference) to introduce BOS digital radio
in Germany for fiscal year 2007/2008. In keeping with tradition, CeoTronics
expects to issue its revenues and earnings targets for fiscal year
2007/2008 in January, at the time of publication of its interim results for
the first half of the year,' announced Thomas. H. Günther, Chairman of the
Board of Management.
Further information:
CeoTronics AG Audio Video Data Communication
Investor Relations, Adam-Opel-Strasse 6, 63322 Rödermark, Germany
Tel.: +49 6074 8751-722, Fax: +49 6074 8751-720
E-mail: chairman@ceotronics.com, Internet: http://www.ceotronics.com
DGAP 17.08.2007
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Language: English
Issuer: CeoTronics AG
Adam-Opel-Straße 6
63322 Rödermark
Deutschland
Phone: +49 (0)6074 8751-722
Fax: +49 (0)6074 8751-720
E-mail: investor.relations@ceotronics.com
Internet: www.ceotronics.com
ISIN: DE0005407407
WKN: 540740
Indices:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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