Schaltbau Holding AG: Schaltbau making progress with stabilisation strategy

CORPORATE NEWS
issued by Schaltbau Holding AG, Munich, Germany
WKN 717030 – ISIN DE0007170300
 
Schaltbau making progress with stabilisation strategy
 

• Operating and financial restructuring being tackled successively
• Shareholder structure strengthened by 28.9 per cent acting in concert

 
 
Munich, Germany, 27 November 2017 – Today at the German Equity Forum (EKF) in Frankfurt, Schaltbau Holding AG informed both shareholders and potential investors on the current status of its restructuring roadmap and the latest developments in its shareholder base. “We are continuing to implement measures that aid the recovery and strategic repositioning of the Schaltbau Group with intensity and vigour,” said Dr Bertram Stausberg, Spokesperson of the Executive Board, in his company presentation. For the time being, the main objectives of the restructuring programme, which was initiated in 2017 and will continue until 2019, are to stabilise operations and restructure the Group’s finances.
 
The roadmap for the next two years is aimed at reducing the current complexity of all Group structures, significantly cutting costs and considerably lowering the level of debt. The primary focus is on optimising the operations of various foreign subsidiaries in the Mobile Transportation Technology segment and boosting productivity in the segment’s business on the German market. The successful Components segment will also be additionally strengthened. In the Stationary Transportation Technology segment, the Executive Board is currently implementing every measure necessary to ensure that these activities also return to sustainable profitability.
 
In the context of the current restructuring of Schaltbau, during the last few months several shareholder groups have joined forces to exercise their voting rights in concert. Since 3 November 2017, the shareholders Luxunion, Monolith, the Zimmermann family, and Elrena GmbH have begun acting in concert and collectively control 28.9 per cent of the Group’s voting rights. In coordination with what is now the largest group of Schaltbau Holding AG shareholders, at the German Equity Forum the Schaltbau management team clarified which motivation and goals that group is pursuing: “The reason for forming the shareholder group is to decisively stabilise and bolster Schaltbau’s shareholder base. The primary aim of the shareholder group is to provide determined support to Schaltbau in its upcoming financial, operational and strategic restructuring efforts as well as its fundamental further development. The concerted action of the shareholders who have combined to form a group will make a substantial contribution to helping Schaltbau develop and successfully leverage important strategic and operational courses of action within the foreseeable future. The stabilisation of the shareholder structure will enable profitable, sustainable growth in the value of the Group as a whole in the best interest of all stakeholders as we move forward.”
 
 
 
With annual sales of over EUR 500 million and around 3,370 employees, the Schaltbau Group is a leading supplier of components and systems in the field of transportation technology and the capital goods industry. The companies of the Schaltbau Group supply complete level crossing systems, train formation and signal technology, door and boarding systems for buses, trains and commercial vehicles, sanitary systems and interior fittings for railway vehicles, industrial brakes for container cranes and wind turbines and also high- and low-voltage components for rolling stock as well as for other fields of application. Its innovative and future-oriented products make Schaltbau a key industrial business partner, particularly in the field of transportation technology.
 
 
Contact:
 
Christian Schunck
Head of IR
Schaltbau Holding AG
Hollerithstraße 5
81829 Munich
Germany
Tel: +49 89 – 93005 209
Fax: +49 89 – 93005 318
schunck@schaltbau.de
www.schaltbau.com
 
 
DISCLAIMER
This corporate news contains statements regarding future developments based on information currently available to us. As a result of risks and uncertainties, actual outcomes could differ from the forward-looking statements made.
 
Schaltbau Holding AG does not intend to update these forward-looking statements.

Contact:
Christian Schunck
Head of Investor Relations & Corporate Communications
Schaltbau Holding AG
Hollerithstraße 5
81829 München
Germany
T +49 89 93005 209
schunck@schaltbau.de