Schaltbau raises earnings forecast

Schaltbau Holding AG / Key word(s): Change in Forecast
16.07.2014 20:28

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP – a company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Munich, 16 July 2014 – The Schaltbau Group, a leading supplier of systems and components for transportation technology and industry, is raising its previously announced target for Group net profit in 2014 of EUR 25 million to EUR 29.4 million. The new target is equivalent to raising the forecast earnings per share from EUR 3.50 to EUR 4.15. The main reason is the increasing of its share in the Polish subsidiary RAWAG Sp.z.o.o. by 46.5% to 89.1%. The required revaluation of the previous shareholding of 42.6% results in a positive one-off gain of EUR 11.8 million. After taking moderate valuation adjustments of further subsidiaries into account as well as the now assumed proportionate loss from the Spanish acquisition Albatros, the net effect on the result from investments is approximately EUR 8.8 million.

Working in the other direction, on one hand, anticipated considerable project delays and possibly higher costs are now likely to have a negative impact on the second half of the year in the Rail Infrastructure business field, coupled with an expected loss from ALTE Technologies, but improved business performance in other Group companies on the other hand. Based on the current forecast, this development is likely to reduce the Schaltbau Group’s EBIT, with the consequence that EBIT for the full year 2014 is now expected to come in at EUR 31 million. This decrease, which basically results from non-recurring effects, will be more than compensated by the above-mentioned rise in the result from investments.

16.07.2014 DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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Language:     English
Company:      Schaltbau Holding AG
              Hollerithstraße 5
              81829 München
              Germany
Phone:        089 – 93005 – 209
Fax:          089 – 93005 – 318
E-mail:       bloch@schaltbau.de
Internet:     www.schaltbau.de
ISIN:         DE0007170300, DE000A0D66Z2,
WKN:          717030, A0D66Z2,
Indices:      SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Düsseldorf, Stuttgart
End of Announcement DGAP News-Service

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