HamaTech AG
STEAG HamaTech Reports Results for the First Quarter 2006
Corporate-news transmitted by DGAP – a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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STEAG HamaTech Reports Results for the First Quarter 2006
Sternenfels, May 9, 2006 – The STEAG HamaTech AG (HamaTech) recorded sales
of € 17.0 million in the first quarter 2006. The decline results primarily
from lower sales in the Optical Disc division in the amount of € 11.5
million (Q1/05: € 20.6 million). Sales in the APE segment rose to € 3.4
million (Q1/05: € 2.0 million), while the Manufacturing Services division
generated sales of € 2.1 million in the first quarter of the current
business year.
The earnings before taxes (EBT) amounted to -€ 6.7 million in the first
quarter 2006 following a loss of -€ 2.4 million in the same quarter one
year ago. This includes € 2.2 million of one-off charges mainly due to the
discontinuation of the Pre-Recorded division. This measure also meant
another adjustment of the structures at the Sternenfels location. The
target is the reduction of annual personnel expenses in the amount of about
€ 3 million as well as of material costs of approximately € 2 million. The
Optical Disc division posted negative earnings before interest and taxes
(EBIT) in the amount of -€ 5.1 million; in the same quarter one year ago
the EBIT amounted to -€ 1.8 million. The Advanced Process Equipment
division posted negative earnings before interest and taxes of -€ 1.8
million (Q1/05: -€ 0.8 million) in the first quarter 2006 due to higher
capital expenditure for the developing of markets for wafer processing. The
EBIT in the Manufacturing Services division amounted to € 0.2 million in
the quarter under review. The earnings after taxes (EAT) amounted to -€ 7.0
million in the first quarter 2006; in comparison, a loss of -€ 2.4 million
was reported for the first quarter 2005.
The order intake in the first quarter 2006 amounted to € 18.5 million in
total (Q1/05: € 33.8 million). At € 6.0 million order intake (previous
year: € 31.1 million) less than one third of the orders in the first
quarter stemmed from the previous main sales contributor Optical Disc. The
decline is a consequence of the continuing restraint in terms of capital
expenditure in the Recordable sub-segment. However, the demand for
recordable media such as the DVD/R increases steadily. In the first quarter
2006 the Advanced Process Equipment segment recorded orders of € 3.9
million (Q1/05: € 2.7 million). With the continuation of the favorable
order situation in April the business segment has already secured the
majority of the budgeted sales for 2006. The Manufacturing Services
business division in Nové Mesto recorded orders in the amount of € 8.6
million in the first quarter 2006.
Despite the negative earnings a positive cash flow from operating
activities in the amount of € 2.1 million was achieved in the first three
months. The reduction of the tied-up capital in the working capital
exceeded the incurred operating loss. As of the balance sheet date the
company had liquid funds in the amount of € 1.8 million. This is set
against liabilities owed to banks in the amount of € 3.0 million. The net
cash position improved by € 2.4 million compared with December 31, 2005.
According to a statement of the SINGULUS TECHNOLOGIES AG as of April 21,
2006, the SINGULUS TECHNOLOGIES Beteiligungs GmbH, a 100 % subsidiary,
currently owns 87.63 % of the shares of the STEAG HamaTech AG, further 0.02
% of the shares are held by the SINGULUS TECHNOLOGIES AG. With the
completion of the first quarter the financial statements of HamaTech will
be consolidated within the Group’s financial statements of the SINGULUS
TECHNOLOGIES AG for the first time.
For more information please contact:
Bernhard Krause
Telefon: +49 (0)6181-9828020
Fax: +49 (0)6181-9828010
eMail: Bernhard.Krause@go-metacom.de
(c)DGAP 09.05.2006
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Language: English
Issuer: STEAG HamaTech AG
Ferdinand-von-Steinbeis-Ring 10
75447 Sternenfels Deutschland
Phone: +49 (0)7045/41-122
Fax: +49 (0)7045/41-1392194
email: melanie.prengel@steag-hamatech.com
WWW: www.steag-hamatech.com
ISIN: DE0007309007
WKN: 730900
indices: CDAX, PRIMEALL
Listed: Geregelter Markt in Frankfurt (Prime Standard), Stuttgart;
Freiverkehr in Berlin-Bremen, München, Hamburg, Düsseldorf
End of News DGAP News-Service
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