DGAP-News: SKW Stahl-Metallurgie Holding AG: SKW Metallurgie appoints new CFO
(firmenpresse) - DGAP-News: SKW Stahl-Metallurgie Holding AG / Key word(s): Change of
Personnel
SKW Stahl-Metallurgie Holding AG: SKW Metallurgie appoints new CFO
21.12.2011 / 07:44
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Press Release
SKW Metallurgie appoints new CFO
- Oliver Schuster to assume CFO position effective March 1, 2012
- Outlook for 2012 remains positive
- Operative guidance for 2011 confirmed
Unterneukirchen (Germany), December 21, 2011. The Supervisory Board of the
SDAX-quoted specialty chemicals Group SKW Metallurgie decided in its
meeting of December 20, 2011 unanimously that Mr. Oliver Schuster (47) will
be appointed to the Executive Board of SKW Stahl-Metallurgie Holding AG
effective March 1, 2012. Mr. Schuster has served since 2000 in responsible
positions at Infineon Technologies AG, lastly as CFO of their largest
operative unit 'Industrial&Multimarket'. In the SKW Metallurgie Group, he
is going to assume the finance department, which will have been overseen by
CEO Ines Kolmsee (additionally acting CFO) until his commencement. As of
the appointment of Mr. Schuster, the Executive Board of the company will
consist of three members.
'We are very pleased to have attained in Mr. Schuster a highly qualified
candidate as CFO for the SKW Metallurgie Group. He is particularly coined
by his comprehensive international experience, of which the SKW Metallurgie
Group will benefit on its global growth track,' says the Chairperson of the
Supervisory Board, Titus Weinheimer.
Operative result for 2011 above previous year - EBITDA growth for 2012
reiterated
For the current business year 2011, the SKW Metallurgie Group forecasts an
operative EBITDA above the previous year figure of EUR 28.8 million despite
the softening economic climate. However, reported EBITDA is expected to not
reach the guidance of EUR 32 million.
Pertaining reasons are negative one-off effects, in particular a payment
made in Q4/2011 in connection with a current legal dispute, negative
currency impacts and a fraud case in China. With regard to the overall good
operative result, the SKW Metallurgie Group nevertheless assumes to be able
to propose an attractive dividend payout for business year 2011 to the
Annual General Meeting 2012. For business year 2010, EUR 0.50 per share had
been disbursed.
Uncertainty regarding the impacts of the financial crisis onto the real
economy has significantly increased in the recent months, and the experts
unilaterally assume a slow-down of the global economy. Nevertheless, the
SKW Metallurgie Group maintains its basically positive assessment
concerning the growth potentials of the Group. Under the assumption of an
at least stable development of the global economy and in particular of
steel production, which is of particular relevance for the SKW Metallurgie
Group, the Executive Board confirms its forecast of reaching growth in
revenues and earnings in the coming business year 2012. That optimism is
supported by the expected improved EBITDA contributions of the new plants
in Bhutan, Russia and Sweden, as well as of the extended production
facility in Brazil. Since the large investment projects of the SKW
Metallurgie Group have been completed for the most part, free cash flow
shall be improved in 2012.
Further information on the Group may be found at the web site:
www.skw-steel.com.
Contact
SKW Stahl-Metallurgie Holding AG
Christian Schunck
Head of IR and Corporate Communications
Prinzregentenstrasse 68
81675 Muenchen
Germany
Direct line IR/Press: +49 89 5998923-22
Fax: +49 89 5998923-29
E-mail: schunck(at)skw-steel.com
Internet: www.skw-steel.com
About SKW Stahl-Metallurgie Holding AG
SKW Metallurgie is the global market leader for chemical additives for hot
metal desulphurization, and for cored wire used in secondary metallurgy.
The Group's products enable steel-makers to efficiently manufacture
high-quality steel products. Clients include the world's leading companies
in the steel industry. The SKW Metallurgie Group has more than 50 years of
metallurgical know how, and currently operates in more than 40 countries.
What is more, the Group is a leading supplier of Quab specialty chemicals,
which are mainly used in the global production of industrial starch for the
paper industry. The company's operating business is broken down into the
two core segments 'Cored Wire' and 'Powder and Granules', and the 'Other'
segment. The SKW Metallurgie Group is headquartered in Germany with
production facilities in France, the US (6), Canada, Mexico, Brazil, South
Korea, Sweden, Russia, Bhutan, the People's Republic of China (2) and India
(2 via joint venture). At the existing site in Brazil, a new production
plant is under construction.
Shares of SKW Stahl-Metallurgie Holding AG have been listed in Frankfurt
Stock Exchange's Prime Standard since December 1, 2006 with ISIN
DE000SKWM013 (since August 15, 2011: New ISIN DE000SKWM021), and have been
included in the SDAX index from June 23, 2008.
DISCLAIMER
This press release contains statements on future developments that are
based on currently available information and involve risks and
uncertainties that could cause the actual results to differ from these
forward-looking statements. These risks and uncertainties include, for
example, unpredictable changes in political and economic conditions,
particularly in the steel and paper industry, the competitive situation,
interest and currency risks, technological development as well as other
risks and unexpected circumstances. SKW Stahl-Metallurgie Holding AG and
its Group companies accept no obligation to update such forward-looking
statements.
End of Corporate News
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21.12.2011 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
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Language: English
Company: SKW Stahl-Metallurgie Holding AG
Rathausplatz 11
84579 Unterneukirchen
Germany
Phone: +49 (0)8634 62720-15
Fax: +49 (0)8634 62720-16
E-mail: info(at)skw-steel.com
Internet: www.skw-steel.com
ISIN: DE000SKWM021
WKN: SKWM02
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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