Ad-hoc | 30 July 2009 08:36
RENK 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.
----------------------------------------------------------------------
RENK AG: Semiannual financial report as of June 30, 2009, pursuant to Sec.
37x German Securities Trading Act (WpHG)
RENK in H1/2009
The global recession led to a steep decline in order intake by RENK but
largely well-filled order books benefited RENK's sales.
Order intake in H1/2009 slumped 35% to EUR140 million (from EUR215
million). Sales inched down year-on-year 2% from EUR247 million to EUR242
million, mainly due to a revenue plunge at Vehicle Transmissions that was
not fully offset by the strong sales growth at most of the other divisions.
The operating profit (EBIT) contracted year-on-year from EUR37 million to
EUR33 million, net income (EAT) from EUR26 million to EUR23 million;
earnings per share edged down accordingly from EUR3.81 to EUR3.34.
Assuming that we are awarded in Q4 the expected megacontract for the German
new PUMA infantry fighting vehicle, we predict an order intake at the 2008
level. Sales will remain below the EUR500 million threshold. While EBIT
could well suffer from risk provisions required by the economic
environment, the return on sales (ROS) is not likely to slip below 10%.
Augsburg, July 30, 2009
RENK AG
The Executive Board
30.07.2009 Financial News transmitted by DGAP
----------------------------------------------------------------------
Language: English
Issuer: RENK AG
Gögginger Str. 73
86159 Augsburg
Deutschland
Phone: 0821-5700-227
Fax: 0821-5700-573
E-mail: winfried.scheller@renk.biz
Internet: www.renk.eu
ISIN: DE0007850000, DE0007850000
WKN: 785000
Listed: Regulierter Markt in München; Freiverkehr in Berlin,
Stuttgart; Open Market in Frankfurt
End of News DGAP News-Service
---------------------------------------------------------------------------