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Softing AG — Earnings Release 2009
Feb 26, 2010
405_rns_2010-02-26_c86d4340-be19-4be7-9cb3-aa14de1463fc.html
Earnings Release
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Ad-hoc | 26 February 2010 16:36
Softing Group – returning to profit in 2010
Softing AG / Preliminary Results
26.02.2010 16:36
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.
The Softing Group today announced that based on preliminary figures it
posted sales revenue of EUR 23.7 million (2008: EUR 33.4 million) in 2009.
EBIT fell to EUR - 2.5 million; this includes more than 500,000 EUR
one-time costs to adjust personnel capacities in its Automotive Electronics
division. Earnings per share were approximately EUR -0.33 (2008: EUR 0.46).
Sales in both company segments have suffered in line with the difficulties
of Softing's customers in both industries. Industrial Automation
contributed to 63.3% and Automotive Electronics to 36.7% share of sales.
Industrial Automation sells products and services to the factory- and
process automation industry. Automotive Electronics provides hard- and
software for the development and testing of vehicle electronics.
The volume of incoming orders in 2009 was EUR 24.5 million, thus 24% down
from the previous year. The order backlog on December 31, 2009, was approx.
EUR 4.5 million. Softing will hold back its quantitative prognosis for 2010
until presenting Q1 or Q2 results as the general economy appears too hard
to predict. Softing already states that it does expect 2010 to be
profitable.
CEO and shareholder, Dr. Wolfgang Trier, comments: 'Automotive Electronics
has been the main source of losses in 2009. However, Softing managed to
adjust its cost to the market situation by quick and systematic decisions.
This will contribute to avoiding further losses resulting from Automotive
Electronics in 2010. The currently discussed economic problems of repair
shops will not directly impact Softing's sale of diagnostic devices as
Softing sells its products to the automotive manufacturers. We are
optimistic for both segments to show growth in 2010 as we are observing a
growing order backlog.'
The exact figures will be published on March 31, 2010, after the
Supervisory Board has approved the consolidated financial statements.
About Softing:
Softing is a global provider of hardware and software for industrial
automation and automotive electronics. The company develops high-quality
standard technology products in close cooperation with its customers.
The Industrial Automation division has established itself as a specialist
provider of fieldbus technology and as a competent partner for the
networking of automation systems. Softing develops solutions for its
customers to connect and diagnose devices, controls and systems involved in
the exchange of data.
Content:
Dr. Wolfgang Trier
Phone.: +49(0)89 45656 0
Email: [email protected]
Technical realisation:
Phone: +49(0)89 45656 311
Email: [email protected]
26.02.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de
Language: English
Company: Softing AG
Richard-Reitzner-Allee 6
85540 Haar
Deutschland
Phone: +49 (0)89 456 56-333
Fax: +49 (0)89 456 56-399
E-mail: [email protected]
Internet: www.softing.com
ISIN: DE0005178008
WKN: 517800
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Stuttgart, Hamburg
End of News DGAP News-Service