CeoTronics AG

Earnings Release • Oct 9, 2009

News Details

Ad-hoc | 9 October 2009 14:17

CeoTronics AG: Consolidated Interim Report for Q1 2009/2010

CeoTronics AG / Quarter Results

09.10.2009

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Revenues EUR2,822 thousand / EBIT EUR-362 thousand / Consolidated loss
EUR309 thousand / High order backlog / Incoming orders (ytd) + 16.7%

CeoTronics AG Audio Video Data Communication (ISIN: DE0005407407),
Adam-Opel-Strasse 6, 63322 Rödermark, Germany, listed in the Prime Standard
of the Frankfurt Stock Exchange, generated consolidated revenues of
EUR2,822 thousand in the first quarter of fiscal year 2009/2010 (the summer
months of June, July, and August) in accordance with IFRSs (down 5.9% on
the prior-year figure).

As expected, the Group's order backlog as of August 31, 2009 fell by 16.0%
as against the record-breaking figure in the previous year.
Incoming orders in the period from June 1, 2009 to October 2, 2009
increased by 16.7% year-on-year.

The first quarter of fiscal year 2009/2010 closed with EBITDA of EUR-228
thousand (previous year: EUR128 thousand), EBIT of EUR-362 thousand
(previous year: EUR1 thousand), a loss before tax of EUR396 thousand
(previous year: a loss of EUR24 thousand), and a consolidated loss of
EUR309 thousand (previous year: a consolidated loss of EUR17 thousand).
Earnings per share were EUR-0.05 (previous year: EUR0.00). Gross cash flow
amounted to EUR-175 thousand (previous year: EUR110 thousand).

Consolidated equity amounted to EUR12,847 thousand as of August 31, 2009
(-0.5%). This results in an equity ratio of 69.8% (previous year: 72.5%).

The number of employees in the Group (including trainees) increased to 157
as of August 31, 2009 (August 31, 2008: 151).

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Information and Explaination of the Issuer to this News:

The order backlog as of August 31, 2009 is the highest in the Company's
history for the end of a first quarter after adjustment for the major order
for CT-DECT JetCom systems from the German Armed Forces.
The 'unadjusted' order backlog fell as expected compared with the
prior-year figure, as the third batch of the major order from the German
Armed Forces was contained in last year's order backlog and was only
delivered and invoiced in the course of fiscal year 2008/2009. In addition,
the worst global economic and financial crisis in 80 years had a negative
impact on incoming orders in Q4 2008/2009 and on the first half of Q1
2009/2010.
As a result, revenues fell by 5.9% year-on-year. Lower capacity utilization
allowed CeoTronics to reduce previously accrued overtime and vacation
entitlements during the course of Q1 2009/2010.

We do not expect the current high order backlog to have a positive effect
on revenue development before the third and fourth quarters of fiscal year
2009/2010.

The decline in revenues and a lower gross margin meant CeoTronics was
unable to match the key earnings figures and financial indicators recorded
in the same quarter of the previous year.

Investments in the first three months of fiscal year 2009/2010 totaled
EUR391 thousand, up 39.6% year-on-year.

The Group's cash and cash equivalents fell by EUR1,187 thousand as against
the prior-year period to EUR430 thousand. This decline corresponds to a
EUR1,166 thousand rise in trade receivables.

At EUR12,847 thousand, equity as of August 31, 2009 was virtually unchanged
as against the prior-year period (EUR12,908 thousand). The equity ratio
fell to 69.8% (previous year: 72.5%) due to the increase in total assets.

Assuming that the General Meeting on November 6, 2009 approves the dividend
proposal of EUR0.10 per share, the dividend yield will be 4.3%, measured in
terms of the share price on October 8, 2009 (EUR2.35).

In keeping with tradition, CeoTronics expects to issue its revenue and
earnings forecasts for fiscal year 2009/2010 in January 2010, at the time
of publication of its interim results for the first half of the year.

'Despite the clear impact of the global economic and financial crisis, we
are cautiously upbeat about fiscal year 2009/2010, given the moderate
improvement in the economic climate in certain priority markets, the
current high order backlog, the audio and video projects currently being
prepared, and the fact that the switch to digital radio by security
authorities and organizations in Germany has now started,' said Thomas H.
Günther, Chairman of the Board of Management.

Further information:

CeoTronics AG
Audio Video Data Communication
Investor Relations, Adam-Opel-Strasse 6, 63322 Rödermark, Germany
Tel.: +49 (0)6074/8751-722, Fax: +49 (0)6074/8751-720
E-mail: chairman@ceotronics.com, Internet: http://www.ceotronics.com

09.10.2009 Financial News transmitted by DGAP

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Language: English
Company: CeoTronics AG
Adam-Opel-Straße 6
63322 Rödermark
Deutschland
Phone: +49 (0)6074 8751-724
Fax: +49 (0)6074 8751-720
E-mail: investor.relations@ceotronics.com
Internet: www.ceotronics.com
ISIN: DE0005407407
WKN: 540740
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Stuttgart, Hamburg

End of News DGAP News-Service

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