Earnings Release • Aug 14, 2009
Earnings Release
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Ad-hoc | 14 August 2009 14:12
CeoTronics AG: Consolidated annual earnings figures (IFRSs) as of May 31, 2009 / Figures for Q4 2008/2009 / Proposed dividend payment
CeoTronics AG / Final Results
Release 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.
Revenues EUR18,815 thousand / EBIT EUR2,006 thousand / profit for the year
EUR1,279 thousand / gross cash flow EUR1,806 thousand / order backlog
EUR2,234 thousand / dividend of EUR0.10 per share proposed
CeoTronics AG Audio Video Data Communication (ISIN: DE0005407407),
Adam-Opel-Strasse 6, 63322 Rödermark, Germany, listed in the Prime Standard
and the Technology All Share segment of the Frankfurt Stock Exchange,
recorded consolidated revenues of EUR18,815 thousand for fiscal year
2008/2009 (the second-highest figure in the Group's history). This
represents a decline of 11.7% on the previous year's record revenues.
EBITDA fell by EUR774 thousand (-23.4%) compared with the prior-year
period, from EUR3,307 thousand to EUR2,533 thousand. EBIT decreased by
EUR780 thousand (-28.0%), from EUR2,786 thousand to EUR2,006 thousand. In
line with this, the EBIT margin declined from 13.1% to 10.7%.
Profit for the year before tax fell by EUR762 thousand (-28.6%), from
EUR2,668 thousand to EUR1,906 thousand. Consolidated profit for fiscal year
2008/2009 after tax amounted to EUR1,279 thousand, down 30.3% as against
the previous year (EUR1,835 thousand). As a result, earnings per share
decreased by EUR0.09 from EUR0.28 to EUR0.19.
Consolidated equity as of May 31, 2009 amounted to EUR13,144 thousand
(+1.4%), while the equity ratio was 72.5% (previous year: 64.8%). Gross
cash flow for the period under review was down by EUR550 thousand (-23.4%)
compared with the record prior-year figure, from EUR2,356 thousand to
EUR1,806 thousand.
The consolidated order backlog as of the reporting date fell by 63.7% as
against the extremely high prior-year level to EUR2,234 thousand.
The number of employees (including trainees) as of May 31, 2009 was 155
(previous year: 150).
At its meeting on August 14, 2009, the Supervisory Board concurred with the
Board of Management's proposal to the General Meeting that a dividend of
EUR0.10 per share (previous year: EUR0.15) be paid from the parent
company's net retained profit of EUR2,679,705.04. The remainder will be
carried forward to fiscal year 2009/2010 in order to
In comparison with Q4 2007/2008, Q4 2008/2009 (March 1 to May 31, 2009) saw
a decline in consolidated revenues of EUR1,754 thousand (-27.3%), from
EUR6,429 thousand to EUR4,675 thousand and a decrease in EBIT of EUR544
thousand (-56.8%), from EUR957 thousand to EUR413 thousand. Profit for the
quarter was down by EUR564 thousand ( 86.2%) year-on-year, from EUR654
thousand to EUR90 thousand. Quarterly earnings per share therefore fell to
EUR0.01 (previous year: EUR0.10). Gross cash flow amounted to EUR225
thousand in the fourth quarter, after EUR785 thousand in the previous year.
Information and Explaination of the Issuer to this News:
Fiscal year 2008/2009 was dominated by the worst global economic and
financial crisis in 80 years. Nevertheless, CeoTronics generated the
second-highest revenues and earnings in the Group's history, at EUR18,815
thousand and EUR1,279 thousand respectively, slightly exceeding its
forecasts.
In the period under review, the upcoming switch to digital radio by
government security and law enforcement agencies and firefighters in
Germany and Northern Europe, which unfortunately is being implemented
extremely hesitantly, led to even greater reluctance on the part of these
customers to invest in communications accessories for connecting to analog
radios; this led to an investment backlog. In addition, the changeover to a
new generation of digital radios (in Switzerland among other countries) was
announced at a very early stage, and has also resulted in delays in the
continuation of the switch to digital radio.
The order backlog as of May 31, 2009 declined by 63.7% as against the
extremely high prior-year figure to EUR2,234 thousand. The order backlog
for 2007/2008 in particular reflected the third batch of the order for
CT-DECT JetCom systems from the German Armed Forces, which has now been
delivered and invoiced in full. In addition, the downturn in incoming
orders is due to the severe global economic and financial crisis and the
delays in the switch to digital radio by security authorities and
organizations in Germany and Northern Europe.
Despite the ongoing global economic crisis, CeoTronics has prepared itself
in good time to meet future challenges by investing in employee capacity,
market development, technologies, developments, and production technologies
and processes. At EUR993 thousand (previous year: EUR586 thousand), total
investments increased by 69.4% during fiscal year 2008/2009.
'The Board of Management is satisfied with the Group's revenues and
earnings for fiscal year 2008/2009 in view of the negative external
factors. The imminent start of the switch to digital radio in Germany and
other European markets, the changeover to the new generation of digital
radios in Switzerland and Spain, the new projects being implemented and our
new product developments give us reason to be 'cautiously' optimistic about
fiscal year 2009/2010,' 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 6074 8751-722, Fax: +49 6074 8751-720
E-mail: [email protected], Internet: http://www.ceotronics.com
14.08.2009 Financial News transmitted by DGAP
Language: English
Issuer: CeoTronics AG
Adam-Opel-Straße 6
63322 Rödermark
Deutschland
Phone: +49 (0)6074 8751-724
Fax: +49 (0)6074 8751-720
E-mail: [email protected]
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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