Ad-hoc | 14 January 2009 11:43
CeoTronics AG / Half Year 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 -3.5% / EBITDA +1.5% / EBIT +1.5% / Consolidated profit +20.1% /
Order backlog -48.6% / 2008/2009 revenue target: approx. €20.0 million /
2008/2009 EBIT target: approx. €2.0 million / 2008/2009 consolidated profit
target: approx. €1.4 million
CeoTronics AG Audio Video Data Communication (ISIN: DE0005407407),
Adam-Opel-Strasse 6, 63322 Rödermark, Germany, listed in the Prime Standard
and the Technology All Share segment of the Frankfurt Stock Exchange,
generated consolidated revenues of €10,193 thousand in the period under
review from June 1 to November 30, 2008 in accordance with IFRSs (previous
year: €10,568 thousand).
The consolidated order backlog fell as expected by 48.6% as of November 30,
2008.
EBITDA increased by €26 thousand compared with the first six months of the
previous year, from €1,783 thousand to €1,809 thousand. EBIT improved by
€23 thousand, from €1,526 thousand to €1,549 thousand, and consolidated
profit rose by €196 thousand (+20.1%), from €974 thousand to €1,170
thousand.
Gross cash flow increased by €199 thousand year-on-year in the first six
months of fiscal year 2008/2009, from €1,231 thousand to €1,430 thousand.
Earnings per share improved by €0.02 to €0.17.
Consolidated equity as of November 30, 2008 amounted to €12,926 thousand,
while the equity ratio was 59.7% (previous year: 61.0%).
The number of employees in the Group (including trainees) increased to 154
as of November 30, 2008 (November 30, 2007: 145). All new jobs were created
in Germany.
CeoTronics again lifted its consolidated profit year-on-year by 10.8% in
the second quarter.
Although the Company's share price declined by 28.1% in the period under
review, it did not perform anywhere near as poorly as its benchmark
indices, the TecDAX and the Technology All Share index, which both fell by
approx. 42%.
For fiscal year 2008/2009, CeoTronics aims to generate consolidated
revenues of approximately €20.0 million, EBIT of approximately €2.0
million, and a consolidated profit of approximately €1.4 million.
Assuming that business continues to develop positively and the revenue and
earnings targets are met, the Board of Management plans to propose a
dividend for the sixth consecutive time.
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Information and Explaination of the Issuer to this News:
The slight fall in revenues as against the record figure for the first half
of fiscal year 2007/2008 is due to revenue normalization in Switzerland,
France, and Spain, as well as to the effect of muted spending by German
security authorities and organizations, among others, in connection with
the upcoming switch to digital radio. The initial effects of the financial
and economic crisis in the U.S.A. are also being felt. Successful sales in
other markets were unable to fully offset these negative impacts.
Despite the slight decline in revenues, all key earnings and financial
indicators for the first six months improved year-on-year – in some cases
substantially.
CeoTronics also delivered and invoiced the third batch of the major order
for CT-DECT JetCom systems from the German Armed Forces on time at the end
of the second quarter of fiscal year 2008/2009.
The order backlog fell year-on-year as expected because the prior-year
figure included two of the three batches of the major order from the German
Armed Forces worth over €6.1 million. All three batches have now been
delivered and invoiced. Excluding this major order, incoming orders in the
second quarter of fiscal year 2008/2009 were up by approximately 19%
year-on-year. The order backlog as of November 30, 2008 was 20.5% above the
figure as of November 30, 2006 and therefore at a sufficiently high level.
'Despite a strong order situation, we have issued cautious revenue, EBIT,
and earnings forecasts for fiscal year 2008/2009 in view of the worst
financial and economic crisis in all of our priority geographical markets
for decades, as well as the delay in the switch to digital radio in
Germany. We expect consolidated revenues of approximately €20.0 million,
EBIT of around €2.0 million, and a consolidated profit of approximately
€1.4 million. In contrast to many other listed companies, we have decided
to publish our forecasts despite the uncertain market and economic
situation. Even in a negative environment, we believe transparency and
continuity are important in our financial reporting. We take up that
challenge', explained 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 (0)6074/8751-722, Fax: +49 (0)6074/8751-720
E-mail: chairman@ceotronics.com, Internet: http://www.ceotronics.com
14.01.2009 Financial News transmitted by DGAP
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Language: English
Issuer: CeoTronics AG
Adam-Opel-Straße 6
63322 Rödermark
Deutschland
Phone: +49 (0)6074 8751-724
Fax: +49 (0)6074 8751-720
E-mail: investor.relations@ceotronics.com
Internet: www.ceotronics.com
ISIN: DE0005407407
WKN: 540740
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Stuttgart, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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