Wednesday, 17. March 2010 Ad hoc: In 2009 EBT of R. STAHL group were € 8.9 million - first six months of 2010 are still influenced by the global economic crisis - workforce is complete and prepared for an increasing demand
Waldenburg, 17/03/2010 - In fiscal year 2009 R. STAHL group realized EBT of € 8.9 million (previous year: € 18.5 million). This corresponds to a return on sales based on EBT of 4.4% (previous year: 8.4%). Decline of EBT of 52% compared to the previous year is due to the extremely difficult economic conditions of the past fiscal year. EBITDA decreased by 29%.
At the beginning of 2009 R. STAHL decided to keep the core workforce in the crisis. To achieve this goal extensive measures for cost reduction in other areas have been implemented. Nevertheless, the decline of sales and of prices led to a significant reduction of earnings.
In the past fiscal year the group turnover fell by 8.4% to € 202.6 million. Order intake of R. STAHL has been € 208.1 million (previous year: € 223.6 million). The expert in explosion protection could increase the order backlog to € 42.6 million (previous year: € 39.9 million).
R. STAHL usually feels the economic effects with a time delay of eight to ten months. The company assumes that the bottom has been reached. However, we do not expect an improvement in the first half of 2010. The measures for efficiency improvement and cost reduction that have been introduced will be continued. With a liquidity of € 22.5 million and an equity ratio of 41.5% R. STAHL has a solid financial basis.
From the most important customer sectors the first positive signals can be noticed. That is why, from today's point of view, our executive board expects an increase in demand for the second half of 2010. R. STAHL will meet this demand with a complete and motivated workforce.
Further key figures of the past fiscal year:
| 2009 | 2008 | Changes in % |
Total sales | 202.6 | 221.2 | -8.4 |
Germany | 52.7 | 58.0 | -9.1 |
Europe without Germany | 94.9 | 111.3 | -14.7 |
Asia/Pacific | 32.4 | 33.8 | -4.1 |
Americas | 22.6 | 18.1 | +24.9 |
Order intake | 208.1 | 223.6 | -6.9 |
Order backlog | 42.6 | 39.0 | +9.2 |
EBITDA | 21.7 | 30.5 | -28.9 |
EBT (earnings before taxes) | 8.9 | 18.5 | -51.9 |
Results for the year | 5.6 | 12.6 | -55.6 |
Cash flow from operating activities | 10.9 | 27.5 | -60.4 |
Liquidity | 22.5 | 34.1 | -34.0 |
Equity ratio (in %) | 41.5 | 43.7* | -- |
Employees as at 31/12 (without apprentices) | 1,404 | 1,369 | +2.6 |
* cline of equity due to allocation of goodwill of share acquisition in Norway (please also see Q3/09-report)
R. STAHL will present the complete annual accounts during the press conference on financial statements on 23 April 2010.
If you have any questions please contact:
R. STAHL AG
Communication / Investor Relations
Judith Schäuble
Am Bahnhof 30, 74638 Waldenburg (Württ. )
Phone: 07942.943-1217, Fax: 07942.943-40 1217
e-mail: judith.schaeuble@stahl.de