Ad-hoc | 16 October 2009 11:30
Funkwerk AG / Profit Warning
16.10.2009
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
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The issuer is solely responsible for the content of this announcement.
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Kölleda, 16 October 2009. After an unexpected sharp drop in export,
Funkwerk AG (ISIN DE0005753149) is forced to scale back its expectations
for 2009. Based on figures and information now available, the economic
recovery previously forecasted for the latter half of the year, will likely
fail to materialise. In fact, the loss of a major project from abroad will
cause sales to slump in comparison to the previous year. Furthermore,
negative factors such as the crisis in the automobile supply sector, the
investment restraint of transport companies and in other sectors continue
to prevail.
Taking into consideration all risks, the Executive Board of Funkwerk thus
anticipates group sales in 2009 to drop to around EUR230m (2008:
EUR290.2m). The operating loss (EBIT) is expected to increase accordingly
by the end of the year.
The current sales trend also necessitates further restructuring and
adjustment measures, placing an additional burden on earnings (EBIT) in
fiscal year 2009 of around EUR10m and requiring non-scheduled depreciations
and value adjustments. Taking into account all risk factors and the
restructuring costs, the group EBIT for the whole year is predicted to be
negative at up to EUR19m.
The current restructuring measures, however, will mean permanent cost
savings for 2010 and subsequent years and set the stage for a positive
business and earnings trend in 2010.
For further information contact
Funkwerk AG
Im Funkwerk 5
99625 Kölleda/Thuringia
Germany
Jörg Reichenbach
Investor Relations
Telephone:+49 ( 0) 36 35/6 00 -3 46
Fax: +49 (0) 36 35/6 00 -5 07
reichenbach@funkwerk.com
16.10.2009 financial News transmitted by DGAP
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Language: English
Company: Funkwerk AG
Im Funkwerk 5
99625 Kölleda
Deutschland
Phone: +49 (0)3635 600 0
Fax: +49 (0)3635 600 507
E-mail: info@funkwerk.com
Internet: www.funkwerk.com
ISIN: DE0005753149
WKN: 575314
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, München, Hamburg, Stuttgart
End of News DGAP News-Service
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