DGAP-News

Schaltbau presents Annual Report and reaffirms forecast for 2014 despite slow start

DGAP-News: Schaltbau Holding AG / Key word(s): Quarter Results
Schaltbau presents Annual Report and reaffirms forecast for 2014
despite slow start

24.04.2014 / 10:00

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Schaltbau presents Annual Report and reaffirms forecast for 2014 despite
slow start

Munich, 24 April 2014 - The Schaltbau Group has begun fiscal year 2014 with
an expected drop in sales and earnings, but a sharp rise in order intake.

Incoming orders for the first quarter totalled around EUR 112 million,
surpassing the previous year's figure by 4.1 per cent. Apart from the
continued high demand for Door Systems for Railway Vehicles in the Mobile
Transportation Technology segment, the first major order for Platform
Screen Doors from Sao Paulo helped the Stationary Transportation Technology
segment, more than compensating for lower order volumes in the signal
technology and brake systems fields. The Components segment recorded almost
the same order-intake level as last year.

The postponement of projects until later in the year caused a 3.5 per cent
drop in sales to EUR 92 million for the first quarter. The Rail
Infrastructure business field was mainly affected, whereas the Mobile
Transportation Technology segment registered sales growth, exceeding
anticipated figures. As expected due to the lower sales and changes to the
product mix compared to the first quarter one year earlier, EBIT fell to
EUR 6.2 million (2013: EUR 9.0 million), but showed a clear upward trend in
March. Furthermore, first-quarter EBIT was held down by one-off expenses
required to lay the foundations for further growth, both organic and
through acquisition. The profit attributable to shareholders of Schaltbau
Holding AG totalled EUR 4.3 million (2013: EUR 5.0 million). On this basis,
earnings per share for the quarter under report amounted to EUR 0.70,
compared to EUR 0.81 for the same period the previous year.

"Despite the initially modest sales and earnings performance, we see
ourselves as being on the right track towards achieving our targets for
2014," stated Dr Jürgen Cammann, Spokesman of the Executive Board at
today's annual accounts press conference. The Schaltbau Group is looking to
achieve a stable EBIT of EUR 36 million, a slight rise in earnings per
share to EUR 3.50 and organic growth of 5 per cent in 2014.

Three days ago, the Schaltbau Group finalised the purchase of a stake in
Albatros S.L. and the takeover of ALTE Transportation S.L., both of which