BERU AG
BERU AG: BERU AG maintains stable sales revenues in the nine-month period
BERU AG / Interim Report Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Interim disclosure pursuant to Section 37x of the German Securities Trading Act (WpHG) BERU AG maintains stable sales revenues in the nine-month period (Ludwigsburg, November 2, 2007) BERU Aktiengesellschaft, of Ludwigsburg, posted total sales revenues of EUR 331.5 million in the first nine months of the year 2007, only a slight increase of 1.7% compared with the prior-year period (Jan.-Sept. 2006: EUR 326.1 million). Earnings before interest and taxes (EBIT) amounted to EUR 34.2 million (EUR 40.4 million), representing an operating margin of 10.3%. Growth in Electronics and Sensor Technology offsets decrease in Diesel Cold-Start Technology The sales revenues of BERU’s Diesel Cold-Start Technology division decreased by nearly 12% compared with the prior-year period to EUR 121.2 million (EUR 137.6 million), as a result of intensifying competition and the weak Aftermarket business. This was offset, however, by a 14.7% increase in sales revenues to EUR 112.0 million (EUR 97.6 million) from the Electronics and Sensor Technology division. The revenue trend of the Ignition Technology division was also positive with an 8.1% increase to sales revenues of EUR 98.3 million (EUR 90.9 million). Earnings impacted by weak aftermarket business and massive price concessions on glow plugs In the high-margin Aftermarket segment, BERU posted a drop in sales revenues of 5.2% to EUR 85.6 million (EUR 90.3 million). The decreases due to mild winter weather could not be made up in the further course of the year. Despite a 4.9% sales increase in the Original Equipment segment to EUR 226.9 million (EUR 216.3 million), strong pressure on prices and, among other factors, higher raw-material costs led to a drop in earnings. Strong financial position The BERU Group’s net cash position decreased by EUR 22.3 million to EUR 64.9 million at the end of the period (EUR 87.2 million). This was due to BERU granting a bank-guaranteed loan of EUR 35 million to BorgWarner Europe. The return on this loan is above the currently normal market conditions. BERU made investments totaling EUR 17.7 million in Germany and abroad during the first nine months of this year (EUR 21.2 million). All investments were made out of cash earnings. New Executive Board Chairman demands additional efforts on the cost side 'Compared with the prior year, we anticipate only a marginal increase in sales revenues for full-year 2007. With regard to operating profit, we maintain the forecast that we corrected downward at the end of September of between EUR 44 and EUR 47 million,' stated Dr. Thomas Waldhier, BERU’s new Executive Board Chairman since October 1, 2007. 'As we can only assume low growth in sales revenues for 2008 and the global competitive situation will intensify, we now have to take more effective measures to reduce our costs.' BERU business development in the first nine months of 2007 (January 1 - September 30, 2007) Based on preliminary unaudited figuresEUR million 9M 2007* 9M 2006 Sales revenues 331.5 326.1 Earnings before interest and taxes (EBIT) 34.2 40.4 Investment 17.7 21.2 Net cash position 64.9 87.2 Sales revenues by region Germany 118.2 97.8 Europe (excluding Germany) 136.9 157.4 North America 28.4 35.6 Asia 35.5 27.6 Rest of the world 12.4 7.7 Sales revenues by segment Original Equipment 226.9 216.3 Aftermarket 85.6 90.3 General Industry 19.0 19.5 Sales revenues by division Diesel Cold-Start Technology 121.2 137.6 Ignition Technology 98.3 90.9 Electronics and Sensor Technology 112.0 97.6 Number of employees 2,593 2,596*** Based on preliminary unaudited figures ** As of June 30, 2007 02.11.2007 Financial News transmitted by DGAP ---------------------------------------------------------------------- Language: English Issuer: BERU AG Mörikestr. 155 71636 Ludwigsburg Deutschland Phone: +49 (0)7141 132-948 Fax: +49 (0)7141 132-586 E-mail: investor-relations@beru.de Internet: www.beru.de ISIN: DE0005072102 WKN: 507210 Listed: Amtlicher Markt in Frankfurt (General Standard), Stuttgart; Freiverkehr in Berlin, München, Hamburg, Düsseldorf End of News DGAP News-Service ---------------------------------------------------------------------------
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