Ad hoc: R. STAHL AG: R. STAHL announces preliminary key figures for the first nine months
of 2009
(Thomson Reuters ONE) - R. STAHL AG / Quarterly report / Ad hoc: R. STAHL announces preliminary key figures for the first nine monthsof 2009 Ad hoc announcement according to §15 WpHG processed and transmitted by Hugin. The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------Turnover and earnings significantly below last year's figures - Noimprovement in the quarters to come - Further measures for costreduction introducedWaldenburg, 28 October 2009 - Order intake, turnover and earnings ofR. STAHL group, a group focused on explosion protection, have beensignificantly declining during the first three quarters of 2009. FromJanuary to September 2009 turnover declined by 10.8% to ? 150.2million (previous year ? 168.3 million). While sales fell belowaverage in Germany (-6.8%) and Asia (-8.2%), Europe (without Germany)had to cope with the heaviest losses with a drop in turnover of20.1%. Only the Americas could register a turnover increase (+33.7%).With ? 154.0 million order intake in the first three quarters was7.5% below previous year's level of ? 166.4 million. In the reportperiod a large-scale project of more than ? 3 million for theexpansion of a plant for oil and gas production on the Caspian Sea isincluded. Business with the chemicals industry runs still on a veryweak level.Comparing the quarters the decline can be seen even more clearly: inthe third quarter of 2009 turnover - ? 47.7 million - heavilydeclined by 16% year-on-year. This slump is also reflected in orderintake. From July to September 2009 R. STAHL only received orders inthe amount of ? 46.1 million after ? 49.7 million in the thirdquarter of 2008 and ? 54.0 million, respectively ? 53.8 million inthe first two quarters of 2009.Crucial factor for declining business was the continuing weak demanddue to the economic and financial crisis which gets to R. STAHL witha time delay of about8-10 months. While the downturn is stopped in the oil and gasindustry for the time being due to rising oil prices, large-scaleplant construction still offers only few, hard-fought projects. Inchemicals industries propensity to invest was still very poor.Order backlog on 30 September 2009 amounted to ? 42.2 million andthus was? 3.7 million higher than previous year's value.Pricing pressure burdens resultCompared to the previous year earnings before tax (EBT) decreasedfrom? 18.1 million to ? 6.3 million. With ? 1.1 million EBT of the thirdquarter is 78% below previous year's value and significantly belowthe first two quarters of 2009. Besides the weak demand the low pricelevel is reflected here. Profit per share amounts to ? 0.59 in thefirst three quarters (previous year ? 2.02).Further measures for cost reduction introducedAim of R. STAHL is to keep the permanent staff. To achieve this goalwith the now heavily declining volume of orders and price level thenext step of measures to reduce costs will now become necessary.Management Board and employees ofR. STAHL recently agreed on a salary waiver by the employees inGermany of 5% while keeping the same working hours. Furthermore, themeasures for optimization of processes and costs will be consistentlycontinued.Continuing strong financial basisOperating cash flow amounts to ? 3.3 million after ? 20.2 millionyear-on-year. Repatriation of accruals for working-time accounts,trade payables and the lower earnings led to a reduction.Furthermore, we took over the remaining shares of the Norwegiancompany worth ? 7.7 million. In 2009 investments again incurred forthe new building in the Netherlands. Nevertheless the liquid assetsof? 18.9 million on 30 September 2009 exceed the interest-bearing loansby? 3.4 million. With an equity ratio of 42% R. STAHL has a very stablebalance sheet and financial structure to stand their ground in thedifficult economic environment.OutlookR. STAHL expects demand and price level to still decline during thefourth quarter of 2009, so that turnover, earnings and order intakeduring the second half of 2009 will remain significantly below thefigures of the first six months. The company does not expect recoveryduring the first quarter of 2010. R. STAHL will intensify measuresfor cost reduction and stand their ground even in times of weakdemand.R. STAHL will publish the detailed nine-months-report for 2009 on10 November 2009.If you have any questions please contact:R. STAHL AGCommunications / Investor RelationsAm Bahnhof 30, 74638 Waldenburg (Württ. )Fon: 07942.943-1217, Fax: 07942.943-40 1217e-mail: judith.schaeuble(at)stahl.dehttp://hugin.info/130484/R/1350492/325879.pdf --- End of Message ---R. STAHL AGAm Bahnhof 30 Waldenburg GermanyWKN: 725772; ISIN: DE0007257727 ; Index: CDAX, CLASSIC All Share, Prime All Share;Listed: Prime Standard in Frankfurter Wertpapierbörse, Freiverkehr in Bayerische Börse München, Freiverkehr in Börse Berlin, Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg, Freiverkehr in Börse Düsseldorf, Regulierter Markt in Börse Stuttgart, Regulierter Markt in Frankfurter Wertpapierbörse;
Datum: 28.10.2009 - 10:37 Uhr
Sprache: Deutsch
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