systaic AG
systaic AG publishes interim report as of 30 September 2010
systaic AG / Key word(s): Quarter Results 30.11.2010 08:54 --------------------------------------------------------------------------- systaic AG publishes interim report as of 30 September 2010 Today systaic AG, Düsseldorf, published its interim report for the first nine months of 2010. SYSTAIC posted consolidated revenue of EUR 17,965 thousand in the first nine months (9M 2009: EUR 193,147 thousand). As a result of systaic AG's restructuring and the associated split from the parts of the company which do not belong to its core business mean that revenues fell strongly compared to the same period of the previous year. The income which SYSTAIC recorded in the third quarter is exclusively from the Energy Roof Systems division, which has been known as 'SYSTAIC Energy Roof Systems & Industrial Solutions' from 1 July 2010. The SYSTAIC Group's income continued to be tense compared to the first half of 2010: Earnings before interest, taxes, depreciation and amortisation (EBITDA) were at EUR - 47,674 thousand as of 30 September 2010 (9M 2009: EUR 11,425 thousand), the operating result (EBIT) stood at EUR -50,541 thousand (9M 2009: EUR 9,243 thousand). Earnings before taxes (EBT) decreased to EUR -53,861 thousand (9M 2009: EUR 3,455 thousand). The consolidated net loss after taxes as of 30 September 2010 amounted to EUR -50,920 thousand (9M 2009: net income of EUR 2,470 thousand). Cash flow from operating activities in the first nine months of 2010 amounted to EUR -6,883 thousand (9M 2009: EUR 14,588 thousand). This decrease is mainly caused by the negative consolidated income as reported after the first six months of this financial year. The total assets as of 30 September 2010 were EUR 104,214 thousand (31 December 2009: EUR 178,299 thousand). The inventories decreased in the first nine months by EUR 2,767 thousand to EUR 21,275 thousand. Trade receivables decreased by more than a half to EUR 46,993 thousand (31 December 2009: EUR 96,341 thousand). This was due to the incoming payment of an overdue claim of a client (EUR 16,538 thousand), to subsequent discounts (EUR 6,450 thousand) and to valuation adjustments of claims from the sale of the projects. Cash and cash equivalents amounted to EUR 3,038 thousand, whereof EUR 2,365 thousand are restricted cash. They have decreased by EUR 5,463 thousand since 31 December 2009. On the liabilities side, equity decreased by EUR 52,510 thousand to EUR 30,504 thousand in the first nine months of 2010. As a result, the interim report of SYSTAIC shows an equity ratio of 29.3% as of 30 September 2010. Further figures and details for the first nine months and the third quarter of 2010 will be published with the interim report as of 30 September 2010 on the company's website www.systaic.com. Contact: systaic AG Corporate Communications Benrather Straße 18-20 40213 Düsseldorf Germany Phone: 0049-211-828559-0 Fax: 0049-211-828559-229 presse@systaic.com www.systaic.com 30.11.2010 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: systaic AG Benrather Straße 18-20 40213 Düsseldorf Deutschland Phone: +49 (0)211 828559-0 Fax: +49 (0)211 828559-29 E-mail: ir@systaic.com Internet: http://www.systaic.de ISIN: DE000A0JKYP6 WKN: A0JKYP Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Düsseldorf, Berlin, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------
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