Spyker Cars N.V. reports key figures first half year 2009
(Thomson Reuters ONE) - Highlights * Spyker C8 Aileron is taken into production * Funding continues via Snoras Bank and Latvijas Krajbanka * Better operational results compared to first half year 2008 * Net loss of EUR 8.7 million is slightly lower than in first half year of 2008Zeewolde, the Netherlands, 28 August 2009 - Spyker Cars N.V.,manufacturer of exclusive premium sports cars, today announces itskey figures of the first half year of 2009. Spyker is listed onEurolist by NYSE Euronext Amsterdam (ticker symbol SPYKR). The fullsemi-annual report will be published on 31 August 2009.In the first half year of 2009, the operating result improved by 8%(EUR 0.6 million), compared to the first half year ("HY") of 2008.Car production output maintained at a similar level (21 in HY 09, 22in HY 08). Car sales were slightly lower at 23 in HY 09 versus 26 inHY 08.Victor R. Muller, CEO of Spyker Cars N.V. says: "The first half of2009 showed an automotive industry in distress, particularly in thetop end of the market where sales dropped dramatically - sometimes by50% or more - and temporary factory closures and production stoppageswere the standard. We were in the fortunate position that we had notoverstocked our dealer network last year, as was the case withcertain manufacturers in our market segment which have, in somecases, hundreds of days of unsold stock sitting in ports.We now see a normalisation of business conditions with the exceptionof the availability of financing to both dealers (so-called "floorplanning") and our end-users. The restriction of floor planning andleasing facilities may have affected our sales and still puts adamper on the upturn in the market. In HY 09 total sales went down byEUR 1.6 million compared to HY 08. There are some signs, however,that the availability of financing for dealers and end-users willimprove in the second half of 2009.Spyker C8 Aileron CoupeThe first half year marked the introduction of the Spyker C8 Aileronat the Geneva show in March, which was positively received by bothdealers and customers, particularly because we can now provide anautomatic gearbox to our clientele. For the first time in our historywe have engaged in a proper dealer and customer launch with theSpyker C8 Aileron. This program started on June 30th last with adealer launch in Italy for the Far Eastern, Middle Eastern andEuropean dealers and subsequently in Atlanta (Georgia) and Irvine(California) for the American dealers. These launches will befollowed by a further dealer launch in the Middle East in October2009 and numerous "Ride and Drive" events in America, Europe and theMiddle and Far East throughout the second half year of 2009. Thefirst Ailerons were taken in production in the first half year of2009 and their numbers will increase gradually per quarter from nowon. The Spyker C8 Aileron marks a new era for our company, cateringfor a much wider audience having a cost structure which warrantsmargins that are the foundation for sustainable profitability in thefuture.Also in the first half year we started to see the positive impact ofincreased cost control on our organisation, while continuing to focuson a cost efficient production of the Spyker C8 Aileron. In thesecond half of this year we will further implement cost control toreduce the organizational and operational costs.In spite of the adverse economic conditions in the first half year of2009, we have managed to expand the dealer network and appoint newdealers in Calgary (Canada), Houston (Texas, USA), San Francisco(California, USA), Salt Lake City (Utah, USA) and Sao Paolo (Brazil).Regretfully, our dealer in Las Vegas closed down, but it is likelythat a new appointment will be made in that market fairly soon.Fortunately, all other Spyker dealers worldwide (most of these havingmulti-brand franchises) have managed to remain in business.Production output in the first six months of 2009 (21 cars) waspractically similar to that of H1 in 2008 (22) as were sales (23 inH1 2009 to 26 in H1 2008), but once production of the Spyker C8Aileron starts to gain pace in the second half of 2009, productionand sales numbers are expected to increase steadily.We are grateful to our partners, in particular Snoras Bank andLatvijas Krajbanka, for their ongoing support to achieve ourobjective of attaining profitability."Key financial dates 2009/2010 Spyker Cars N.V.23 October 2009 Trading update Q3 (tussentijdse verklaring)29 January 2010 Trading update Q4 (tussentijdse verklaring)26 March 2010 Publication Year Results 200922 April 2010 Annual General Meeting of ShareholdersKEY FIGURES 30 June 2009 30 June 2008 Unaudited Unaudited ? ('000) ? ('000)ResultsRevenues 4 124 5 757Operating result -7 012 -7 651Result before taxes -8 721 -8 823Net result attributable to equityholders of the Company -8 721 -8 617Car production and salesProduction output 21 22Sales 23 26Average number of employees (inFTE) 134 133Balance sheet dataNon-current assets 46 926 45 165Equity attributable to equityholders of the Company 16 253 41 167Balance sheet total 64 413 69 495Cash flow from operatingactivities 4 096 -32 496Shares of Spyker Cars N.V.Outstanding shares end of periodwith a par value of ? 0.04 15 572 476 15 572 476Weighted average number of shares 15 572 476 12 359 524Group equity per share ? 1,04 ? 3,33Net result per share ? -0,56 ? -0,70Cash flow from operatingactivities per share ? 0,26 ? -2,63Note for the press, not for publicationFor further information please contact:Investor and analyst enquiries Press enquiriesVictor R. Muller Sander van DijkChief Executive Officer PR & CommunicationsT +31 (0) 36 535 8787 T +31 (0) 36 535 8787F +31 (0) 36 535 8780 F +31 (0) 36 535 8780 E press(at)spykercars.comhttp://hugin.info/136917/R/1337825/318943.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 28.08.2009 - 08:16 Uhr
Sprache: Deutsch
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