Ad-hoc | 3 December 2009 14:39
CeoTronics AG / Preliminary Results
03.12.2009
Dissemination 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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CeoTronics AG Audio Video Data Communication (ISIN: DE0005407407),
Adam-Opel-Strasse 6, 63322 Rödermark, Germany, listed in the Prime Standard
of the Frankfurt Stock Exchange, generated consolidated revenues of
approximately EUR6,745 thousand as of November 30, 2009 (-33.8% compared to
previous year). The order backlog was down by around 20.1% year-on-year.
Due to the continuously weak incoming orders (-5.4% in the first half of
the fiscal year, -49.7% in Q2) and the not jet happened draw of the lots of
the won tender from the Land Berlin to supply accessories for digital
radios the board of management decided to start short-time work. This will
begin in the production site Rödermark in some departments from calendar
week 50 in 2009. From January 2010 short-time work will probably be
expanded.
The final detailed consolidated figures for the Group will be published
together with the half year report 2009/2010 following their approval on
January 13, 2010.
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Information and Explaination of the Issuer to this News:
The negative development of revenues in the first two quarters can partly
be explained by the last lot of the CT-DECT JetCom systems order for the
German Armed Forces that were delivered and invoiced in the Q2 of the
preceding year.
On top of that come the effects that the worst crisis to the world economy
and the financial markets during the last 80 years have on the development
of CeoTronics' business - despite the obvious accumulation of needed
investments in communication accessories of CeoTronics main clients. Also
the weak incoming orders in Q2 of this year and in the last quarter of the
fiscal year 2008/2009 had its negative impact on the development of
revenues and order backlog in the period under review. Another reason is
the delay in the switch to digital radio systems of the authorities in
Germany and northern Europe.
CeoTronics in the US and CeoTronics in Switzerland were able to raise their
revenue in EUR by 237.8% and 140.6%. Also the CT-Video GmbH raised its
revenue by 14.1%; the order backlog in climbed by 221.3% as of November 30,
2009. But those positive developments were not able to compensate the
negative figures in the other markets and CeoTronics companies.
'The possibilities to adapt capacities using flexible work times models or
to reduce accumulate overtime hours and holiday entitlements is nearly run
down, so we had to decide on working short-time. As soon as the switch to
digital radio of the authorities in Germany and northern Europe leads to
further new orders and the draw of lots for CeoTronics, short-time work
will be stopped. At the present point of time our main focus is put on cost
discipline and the development of new markets', said 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: , Internet: http://www.ceotronics.com
03.12.2009 Financial News distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: 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, München, Düsseldorf, Stuttgart, Hamburg
End of News DGAP News-Service
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