DGAP-News: Schaltbau subsidiary PINTSCH BAMAG wants to take over shunting equipment and signals specialist Tiefenbach GmbH - Schaltbau Group announces forecast for 2012
(firmenpresse) - DGAP-News: Schaltbau Holding AG / Key word(s): Acquisition/Forecast
Schaltbau subsidiary PINTSCH BAMAG wants to take over shunting
equipment and signals specialist Tiefenbach GmbH - Schaltbau Group
announces forecast for 2012
17.11.2011 / 15:15
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Schaltbau subsidiary PINTSCH BAMAG wants to take over shunting equipment
and signals specialist Tiefenbach GmbH
Schaltbau Group announces forecast for 2012
Munich / Dinslaken, 17 November 2011 - PINTSCH BAMAG Antriebs- und
Verkehrstechnik GmbH, based in Dinslaken ('PINTSCH BAMAG') and a wholly
owned subsidiary of Schaltbau Holding AG (ISIN DE0007170300), is currently
finalising negotiations for the acquisition of the shunting equipment and
signals specialist Tiefenbach GmbH of Sprockhövel / Germany. The takeover
is still subject to the drawing up of a legally valid purchase contract and
the agreement of the committees. The purchase price will be in the upper
single-digit millions range.
Founded in 1950, Tiefenbach GmbH has forged itself an international
reputation as a leading specialist for railway shunting and signal
technology systems. In addition to its role as location and cooperation
partner on four continents, Tiefenbach GmbH has successfully completed over
300 projects at international level. In 2010 Tiefenbach GmbH reported sales
in the region of EUR 26 million with a workforce of around 100 employees.
With this acquisition, PINTSCH BAMAG wishes to continue expanding its
current market position as supplier of signals systems for main and branch
lines both in Germany and abroad and enter promising new markets in the
fields of railway signals engineering, train marshalling systems and sensor
technology. 'Tiefenbach GmbH is an ideally compatible partner that
complements the business activities of the PINTSCH BAMAG Group in the field
of railway signal systems. With this fusion we are not only planning to
continue our various business activities, but also intend to expand in a
whole range of other areas,' says Dr Jürgen H. Cammann, the Schaltbau
Holding AG Executive Board Spokesman.
Forecast for 2011 affirmed
The Schaltbau Executive Board again affirmed its forecast for the current
fiscal year 2011 with sales in the region of EUR 315 million, EBIT around
EUR 29 million, Group net profit of approximately EUR 21 million and
earnings per share of EUR 8.85.
Optimistic outlook for fiscal year 2012
The Schaltbau Group sees the currently stable volume of railway sector
business in Europe and the USA as remaining constant in 2012. However, due
to the investment reduction of all new railway construction projects in
China announced in August 2011, we must now expect a lower volume of
investment activity on this market for the time being. Business with
industrial braking systems and components is set to remain stable at
current levels.
Hans Gisbert Ulmke, Executive Board Member of Schaltbau AG: 'Due to
integration costs and other expenses, the acquisition will only make a
minor positive contribution to earnings during the first year. The fiscal
year 2012 will be somewhat burdened by upfront expenditure for additional
personnel needed to successfully continue taking the previously initiated
steps in the Group's ongoing growth strategy.'
In view of these facts, including the sales generated by Tiefenbach GmbH,
the Schaltbau Executive Board expects sales figures to grow to around EUR
350 million, earnings from operating activities (EBIT) of EUR 28.9 million,
Group net profit of EUR 20.8 million and earnings per share of EUR 8.83 for
fiscal year 2012.
About Schaltbau:
With annual sales of EUR 315 million and a workforce of around 1,700
employees, the Schaltbau Group is a leading supplier of components and
systems in the field of transportation technology. It supplies complete
level crossing systems, door systems for buses and trains, industrial
braking systems for container cranes and also power supply units as well as
high- and low-voltage components for railway vehicles. Its innovative and
future-oriented products make Schaltbau a key business partner in the
fields of transportation technology and industry.
End of Corporate News
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17.11.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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Media archive at www.dgap-medientreff.de and www.dgap.de
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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(at)schaltbau.de
Internet: www.schaltbau.de
ISIN: DE0007170300, DE000A0D66Z2,
WKN: 717030, A0D66Z2,
Listed: Regulierter Markt in Frankfurt (Prime Standard), München;
Freiverkehr in Berlin, Düsseldorf, Stuttgart
End of News DGAP News-Service
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