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Schaltbau increases Group net profit despite crisis – dividend to be raised to 50 cents plus 20 cents special dividend per share

Schaltbau Holding AG / Final Results/Dividend
09.03.2010 15:34

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Schaltbau increases Group net profit despite crisis – dividend to be raised to 50 cents plus 20 cents special dividend per share
Munich, 9 March 2010 – The earnings position of the Schaltbau Group developed positively compared to the previous year, despite the year of crisis in 2009. The year under report was marked by a significant decline in firm orders, particularly in the industrial sector. Incoming orders decreased by EUR 29.5 million or 10.5% to EUR 251.7 million, accompanied by a 3.7% reduction in sales revenues, which totalled EUR 269.8 million.
According to preliminary figures, despite declining sales revenues, the previous year’s earnings from operating activities (EBIT) of EUR 21.9 million were largely maintained at EUR 20.3 million in 2009, thanks to the timely introduction of adaptation measures. Preliminary Group net profit rose from EUR 13.1 million in 2008 to EUR 14.1 million in 2009. The result includes the exceptional post-tax gain of EUR 1.1 million arising from the sale of Bode Beijing. The net proceeds total EUR 0.3 million more than the published estimation due to favourable changes in currency exchange rates and lower transaction costs. In addition to withholding taxes connected with this sale, the tax expense for the year also reflects current tax field audit risks and deferred taxes. The profit attributable to shareholders of Schaltbau Holding AG amounts to EUR 12.3 million (previous year: EUR 11.8 million). Undiluted earnings per share surpassed expectations and stand at EUR 6.62 (previous year: EUR 6.35). Net bank liabilities were reduced to EUR 33.9 million (previous year: EUR 37.7 million).

In light of the Group’s stable earnings situation, the Executive Board will submit a proposal to the Supervisory Board that a dividend of 50 cents per share be paid as well as an additional special dividend of 20 cents per share arising from the sale of Bode Beijing.

In view of the expected moderate economic recovery, the Executive Board predicts order-intake figures of EUR 275 million and sales revenues of EUR 270 million respectively for the fiscal year 2010. Based on business performance to date, the Executive Board abides by the earnings forecast made in November 2009, which announced earnings per share in the region of EUR 5.40.

09.03.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at and

Language:     English
Company:      Schaltbau Holding AG
              Hollerithstraße 5
              81829 München
Phone:        089 – 93005 – 209
Fax:          089 – 93005 – 318
ISIN: DE0007170300, DE000A0D66Z2, DE000A0TFWY1 WKN:          717030, A0D66Z2, A0TFWY1
Listed: Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Düsseldorf, Stuttgart  
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