DGAP-News: Funkwerk sells Enterprise Communication segment
(firmenpresse) - DGAP-News: Funkwerk AG / Key word(s): Disposal
Funkwerk sells Enterprise Communication segment
18.10.2011 / 13:33
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Funkwerk sells Enterprise Communication segment
Key milestone in group reorientation
Kölleda, 18 October 2011 - Funkwerk AG is selling Funkwerk Enterprise
Communications GmbH, and with it its entire Enterprise Communication (EC)
segment, to the Spanish Teldat group, Madrid. Signing the contract
completes a further milestone in the current reorientation of Funkwerk AG
to focus on its three core segments, Traffic&Control Communication,
Security Communication and Automotive Communication, and continue to
stabilise the group's financial basis.
The purchase contract was signed today for Funkwerk Enterprise
Communications GmbH in Nuremberg and its subsidiaries Funkwerk
IP-Appliances GmbH (Nuremberg), Funkwerk Aphona GmbH (Vienna, Austria),
Funkwerk Enterprise Communications France S.A.S. (Gradignan Cedex, France),
and Funkwerk Enterprise Communications Italia S.R.L. (Milan, Italy). The
sale excludes the group's inactive subsidiaries in Germany and Spain as
well as the controlling interest of Funkwerk Enterprise Communications GmbH
in Funkwerk ES Iberia S.L. (Majadahonda/Madrid, Spain). Execution of the
contract is subject to the usual conditions precedent and to a reservation
of consent in favour of the banking consortium of Funkwerk AG. The
Executive Board expects the conditions precedent to occur and the consent
of the consortium banks to be obtained before the end of the current 2011
financial year.
Funkwerk Enterprise Communication GmbH specialises in telecommunication
systems and data security solutions. Its focus is on intelligent networks
with customised features for intra- and cross-company communication.
Including the subsidiaries sold under the contract, sales generated in the
2010 financial year amounted to around EUR 28m, with a positive EBIT after
head office charges of around EUR 0.5m. With consolidated sales in the
current 2011 financial year amounting to around EUR 21m, the Enterprise
Communication segment produced a balanced, if not slightly positive, EBIT
as at 30 September. The number of employees averaged 140. The Teldat group
is a leading European technology holding specialising in the production and
sale of IP solutions for the business environment and operates in more than
35 countries. In fiscal 2010, the holding generated sales of around EUR 45m
with a workforce of some 600 employees.
The Funkwerk group, which reported consolidated sales of around EUR 211m in
2010, employing an average of around 1,372 people, focuses on
solution-oriented information and communication systems for applications in
transport and traffic, security and vehicles. As part of its strategic
reorientation since 2011, Funkwerk has concentrated exclusively on pushing
growth fields with strong margins while separating from peripheral areas.
The sale of its EC segment signifies one of the most important steps of the
group, as it means that the resources of the company can, as a result, be
utilised more specifically while organisational structures are optimised. A
further key milestone had already been reached early in September with the
sale of Alpha Meß-Steuer-Regeltechnik GmbH, another company which had not
been part of the core business of the Funkwerk group.
For further information please contact:
Funkwerk AG
Im Funkwerk 5
99625 Kölleda/Thuringia
Germany
Jörg Reichenbach
Investor Relations
Phone: 0 36 35/6 00 -3 46
Fax: 0 36 35/6 00 -5 07
reichenbach(at)funkwerk.com
End of Corporate News
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18.10.2011 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Funkwerk AG
Im Funkwerk 5
99625 Kölleda
Germany
Phone: +49 (0)3635 600 0
Fax: +49 (0)3635 600 507
E-mail: info(at)funkwerk.com
Internet: www.funkwerk.com
ISIN: DE0005753149
WKN: 575314
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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