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Schaltbau Group adjusts sales forecast and reaffirms earnings target

Schaltbau Holding AG / Key word(s): Quarter Results/Change in Forecast
25.07.2016 14:18

Disclosure of an inside information according to Article 17 MAR, transmitted by DGAP – a service of EQS Group AG.
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Schaltbau Group adjusts sales forecast and reaffirms earnings target
Munich, 25 July 2016 – According to preliminary figures, the Schaltbau Group finished the first six months of the year with sales of EUR 247.7 million, i.e. 5.1 per cent growth year-on-year, and an EBIT of EUR 12.4 million (January to June 2015: EUR 19.6 million). In the second quarter, the globally operating transportation technology group achieved a significantly improved EBIT of EUR 8.4 million compared with the first three months of the year, which was, however, EUR 2.8 million down on the previous year’s figure of EUR 11.2 million due to customer-related project delays. Sales for the second quarter totalled EUR 130.2 million compared to EUR 128.1 million the previous year.

Order intake reached EUR 319.1 million for the six-month period, 23 per cent up on the comparable period for 2015, emphasising the Schaltbau Group’s sales potential for the coming months. In the second quarter, order intake rose to EUR 163.6 million, 23.8 per cent up on the figure recorded one year earlier.

The sales target for the full year 2016 is being moderately adjusted downwards from around EUR 550 million to EUR 530 million, due to the first- time consolidation of the Spanish subsidiary Albatros, which will now take place later than planned. The full consolidation of Albatros, which is planned for the second half of the year, will give rise to positive contributions within the Group in terms of EBIT and net profit, helped by a one-off revaluation gain in the result from investments. The Schaltbau Group therefore reaffirms its earnings target for the full year, assuming no additional delays in call-offs need to be taken into account or if a way is found of exiting the PSD project in Sao Paulo. Project delays from the third into the fourth quarter have already been allowed for, which means the third quarter is also likely to end with an EBIT down on that of the previous year.

25.07.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language:     English
Company:      Schaltbau Holding AG
              Hollerithstraße 5
              81829 Munich
Phone:        089 – 93005 – 209
Fax:          089 – 93005 – 318
ISIN:         DE0007170300
WKN:          717030
Listed: Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Stuttgart,               Tradegate Exchange
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