Schaltbau Group revises earnings target for 2016

Schaltbau Holding AG / Key word(s): Profit Warning
05.09.2016 21:45

Disclosure of an inside information according to Article 17 MAR, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Munich 5 September 2016 – A recalculation of the purchase price allocation in conjunction with the full consolidation of the Spanish company Albatros S.L. and its subsidiaries, has given rise to a highly negative effect, which will reduce the EBIT by around EUR 4 million. As recently announced, this is offset by positive contributions to EBIT and net profit, supported by a one-off revaluation gain in the result from investments, which will arise on the planned consolidation of the Albatros Group in the second half of the year.

At the same time, the Executive Board has decided to change the business model for platform screen doors and act only as a supplier of components and subsystems in any future projects. This decision, together with precautionary measures for the project in Sao Paulo, is likely to result in write-downs of approximately EUR 9 million.

For the fiscal year 2016, the Schaltbau Group therefore now expects profit before financial result and taxes to total approximately EUR 21 million (previously: EUR 41.5 million), Group net profit of approximately EUR 11 million (previously: EUR 27.3 million) and earnings per share of around EUR 0.80 (previously EUR 3.50). The sales target remains unchanged at EUR 530 million.

These figures anticipate furthermore possible impacts on earnings of project delays, particularly in the Stationary Transportation Technology segment, as well as write-downs in subsidiaries.

05.09.2016 The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

Language:     English
Company:      Schaltbau Holding AG
              Hollerithstraße 5
              81829 Munich
              Germany
Phone:        089 – 93005 – 209
Fax:          089 – 93005 – 318
E-mail:       bloch@schaltbau.de
Internet:     www.schaltbau.de
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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