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Rosenbauer International AG / Rosenbauer posts biggest-ever first-half-year sales - Seite 2

acquired company Rosenbauer UK were included in the consolidated financial
statements for the first time. The first six months of the year saw increased
shipments in Germany, as well as from Spain and the USA to fulfill the major
order from Saudi Arabia. Rosenbauer Motors was also successful in lifting
revenues, with the new "Commander" US chassis and the chassis for the PANTHER
aircraft rescue fire fighting vehicle.

Earnings
At EUR 20.0 million, EBIT came in 19% higher than last year (1-6/2013: EUR 16.8
million). This increase is largely due to better earnings in the US segment, and
to the improved result of the German segment. In the first half of the year, the
EBIT margin of 5.6% (1-6/2013: 5.0%) was still below the long-term target value
of over 7% - primarily as a result of the relocation of the PANTHER and AT
vehicle production lines to the new Plant II, which is reflected in slightly
lower EBIT in the Austrian segment.

The "Finance cost" deteriorated year-on-year to EUR -1.3 million (1-6/2013: EUR
-1.1 million) owing to the higher financing needs, while the result of joint
ventures fell to EUR 0.9 million (1-6/2013: EUR 1.4 million) due to reduced
earnings from the joint venture in Russia. EBT for the first half of the year
came to EUR 19.6 million (1-6/2013: EUR 17.1 million).

Orders Although market conditions throughout the world are still
subdued, the Rosenbauer Group once again posted record figures for
order intake and order-book levels. The volume of new orders taken in
the first half of the year reached a record EUR 438.1 million, well
above the level of recent years. This is due in part to a follow-up
order from Saudi Arabia. The reserve of unfilled orders at June 30,
2014 amounted to EUR 731.8 million, 7% above last year's figure (June
30, 2013: EUR 628.5 million). This gives the Rosenbauer Group assured
capacity utilization at all its manufacturing facilities, and a
fairly clear view ahead for the next few months.

Financial position and asset situation For industry-specific reasons,
the balance-sheet structure during the financial year is typified by
a high level of working capital. This results from the turnaround
times, lasting several months, for the vehicle contracts currently
under manufacture. Moreover, the increase in the balance-sheet total
to EUR 525.8 million (June 30, 2013: EUR 474.3 million) is
attributable to the high production volumes and to the increase in
fixed assets. Due to the high volume of shipments planned for the