Ad-hoc | 13 January 2010 12:55
CeoTronics AG / Half Year Results
13.01.2010
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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Revenues EUR6,745 thousand / EBIT EUR-468 thousand / Consolidated loss
EUR468 thousand / Order backlog down 20.0%/ Incoming orders (ytd) -5.3% /
Forecast 2009-2010
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 EUR6,745 thousand in accordance with IFRSs in the reporting period from
June 1 to November 30, 2009 (previous year: EUR10,193 thousand).
As of November 30, 2009, the consolidated order backlog was down 20.0% as
against the prior-year period. Orders received in the first six months of
the year declined by 5.3% year-on-year.
The first half of fiscal year 2009/2010 closed with EBIT of EUR-468
thousand (previous year: EUR1,549 thousand), a loss before tax of EUR536
thousand (previous year: profit of EUR1,512 thousand), and a consolidated
loss of EUR468 thousand (previous year: consolidated profit of EUR1,170
thousand). Earnings per share were EUR-0.07 (previous year: EUR0.17). Gross
cash flow amounted to EUR-191 thousand (previous year: EUR1,430 thousand).
Consolidated equity amounted to EUR12,072 thousand as of November 30, 2009.
The equity ratio was 61.4% (previous year: 59.7%).
Investments in the first six months of fiscal year 2009/2010 totaled EUR513
thousand, up 12.0% year-on-year. The Group's cash and cash equivalents
increased to EUR1,161 thousand.
The number of employees in the Group (including trainees) increased to 157
as of November 30, 2009 (August 31, 2009: 154), of whom two work in
Research and Development.
The Company's share price recorded positive growth of 6.8% in the period
under review.
Consolidated revenues of EUR16.0 million, consolidated EBIT of EUR300
thousand, and consolidated profits of EUR100 thousand are expected for
fiscal year 2009/2010.
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Information and Explaination of the Issuer to this News:
The decline in revenues towards the end of the first half of the year is
due, among other things, to the last of the batch of the major order from
the German Armed Forces worth over EUR3.1 million being delivered and
invoiced in Q2 last year. Furthermore, the effects of the worst global
economic and financial crisis in 80 years impacted the course of business
at CeoTronics AG, despite the obvious investment bottleneck and customers
having to make up ground in communications technology. Moreover, the weak
order intake in the past quarter and in the fourth quarter of
fiscal year 2008/2009, as well as the delays to the switch to digital radio
by security authorities and organizations in Germany and Northern Europe,
had an adverse effect on revenue and order backlog development.
The significant decline in revenues meant that CeoTronics was unable to
match the key earnings figures and financial indicators recorded in the
prior-year period.
Due to the continual weak order intake and the as yet unreleased orders for
the tender for digital radio accessories the Company won from the federal
state of Berlin, the Board of Management resolved to introduce short-time
working for some departments at the production location in Rödermark as of
December 2009. Short-time working was expanded from January 2010.
'In subsequent fiscal years, CeoTronics should achieve significantly higher
revenues and corresponding more positive earnings figures due, among other
things, to the economic recovery and the switch to digital radio by
governments and industry in Germany and Northern Europe,' 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 (0)6074/8751-722, Fax: +49 (0)6074/8751-720
E-mail: chairman@ceotronics.com, Internet: http://www.ceotronics.com
13.01.2010 Ad hoc announcement, Financial News and Media Release 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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