HamaTech AG
HamaTech AG interim statement for the first quarter 2007
HamaTech AG / Release of an announcement according to article 37 WpHG [German Securities Trading Act] Interim report according to article 37 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- Interim Statement Q1/2007 HamaTech AG interim statement for the first quarter 2007 Dear shareholders, in view of the continuing difficult circumstances in the market for Recordable equipment within the optical disc industry, the management board by the end of January 2007 has signed a relevant reconciliation of interest including a social compensation plan with the workers council. This agreement contains the termination of approx. 50 employment contracts at the Sternenfels location. This action was preceded by the decision to transfer all optical disc activities to the Kahl location by the end of 2006 after no recovery for the demand of Recordable equipment had occurred during this year. On February 8, 2007 HamaTech AG sold 100 % of the shares in the STEAG ETA-Optik GmbH (ETA-Optik), Heinsberg, to the stock-listed Swedish company AudioDev AB, Malmö. The divestment became effective on that same day, the purchase price was EUR 3.25 million. Accordingly, in the financial figures for the first quarter 2007 as well as for the first quarter of the previous year, the numbers for ETA-Optik had been excluded. In addition, the activities of STEAG Electronic Systems spol. s.r.o. had been excluded from figures for the first quarter of last year as this entity was sold in the fourth quarter of 2006. Thus, the numbers for revenues, earnings and the financial situation in this interim statement are representing only the continuing operations. Current business The loss compared to the first quarter of the previous year was reduced significantly. Hence, the measures which have been initiated in advance of the decision to transfer the activities during 2006 are becoming effective. The resignation of the approx. 50 terminated employees in the near future will lead to additional cost savings in the quarters to come. The business segment Advanced Process Equipment was able to recognize in the first quarter 2007 again several tool bookings and thus was able to maintain the positive momentum of the previous year. The high number of repeat order confirms the exceptional market position this unit has conquered in this special market niche. Order intake and -backlog Recognized orders in the recordable segment were at EUR 5.2 million (Q1/06: EUR 5.3 million*). All bookings stem from the format DVD/R and originate from the sales region Asia. The segment Advanced Process Equipment (APE) shows for the first quarter 2007 total bookings of EUR 7.6 million (Q1/06: EUR 3.9 million). All tool orders originate from the Asian market and belong to the segment 'Cleaner'. After the business segment APE in the last year increased revenues and thus improved the earnings significantly, this order volume provides the basis for a repeated positive business development in the current year. In total, order intake for the first quarter 2007 amounts to EUR 12.8 million (Q1/06: EUR 9.2 million*). Order backlog as per 31.03.2007 amounts to EUR 29.2 million (as per 31.03.2006: EUR 33.2 million*): EUR 10.8 million in the segment optical disc and EUR 18.4 million in the segment APE. Revenues and earnings Revenues in the first three month of the new business year amount to EUR 7.6 million for the continuing operations, the corresponding number for the previous year is EUR 13.7 million*. Thereof, EUR 6.3 million in the first quarter 2007 stem from the business segment optical disc (Q1/06: EUR 10.3 million*), while EUR 1.3 million of the revenues relate to the segment Advanced Process Equipment (Q1/06: EUR 3.4 million). For the business segment APE in particular, the first quarter is traditionally the weakest with regard to revenues, so it has been this year. Earnings before taxes (EBT) for the continuing operations amounts to EUR -1.0 million, the corresponding period of the previous year shows a loss before taxes of EUR 5.9 million*. The business segment optical disc achieved in the first quarter of 2007 earnings before taxes of EUR 0.1 million, in the corresponding period of the previous year the loss amounted to EUR 4.1 million*. This significant earnings improvement shows the effectiveness of the decided restructuring measures. The business segment Advanced Process Equipment ended the first quarter 2007 with a loss of EUR 1.1 million as a result of the low sales volume, while for the same period last year the loss had been EUR1.8 million. With the sales of ETA-Optik in the first quarter 2007 a book loss of approx. EUR 1 million occurred as a result of the deconsolidation of the entity which is recognized under the discontinuing operations. in EUR million Q1 2007* Q1 2006* Order intake 12.8 9.2 Revenues 7.6 13.7 Earnings before taxes -1.0 -5.9 Number of employees as per 31.03. 161 243 Financial situation as per 31.03.2007 The balance sheet total as per 31.03.2007 amounts to EUR 89.4 million and is unchanged versus 31.12.2006. On a positive note, the net liquidity versus 31.12.2006 (EUR 2.7 million) was increased significantly to EUR 7.7 million. This is driven by a reduction of the working capitals as well as through the collection of the sales price from the ETA-Optik transaction. Personnel development Including the companies ETA-Optik and STEAG Electronic Systems spol. s.r.o., Slovakia - both of which have been sold in the meantime - the personnel level as per 31.03.2006 was 611 employees. Excluding these divested entities the number of employees was at 243. For the continuing operations (excl. ETA-Optik sowie STEAG Electronic Systems spol. s.r.o.), the number of employees in the area of Advanced Process Equipment on a worldwide basis has decreased slightly from 110 employees to 97 employees. Reason for this decline is the transfer of the Wafer activities from the US to Sternenfels, followed by a reorganization of personnel at the US-subsidiary HamaTech USA Inc., Austin/Texas. In the area of optical disc, however, the number of employees was reduced substantially from 90 as per 31.03.2006 to only 47 employees as per 31.03.2007. Due to the current ongoing transfer of activities to Kahl, the number of employees will further significantly decrease during the months to come. In addition, the number of employees in the supporting functions has been reduced from 43 employees as per 31.03.2006 to 17 employees as per 31.03.2007. Outlook Due to the implemented cost saving measures management is confident that in the course of this year the situation with regard to revenues, earnings and financial situation will further stabilize. Reason for this give the restructuring measures being implemented in the business segment optical disc. Due to the resignation of several employees in the month to come the cost structure will be further improved. For Advanced Process Equipment, the current demand from the market segments covered by this unit provides reason for confidence. HamaTech further profits from its strong market position in the segment 'Cleaner'. In addition, the R&D activities in 2007 target the expansion of additional application processes and technologies. With the order backlog as per end of April 2007, the company today has sufficient bookings in order to achieve at least the same sales volume as in the previous year. HamaTech AG Ferdinand-von-Steinbeis-Ring 10 D-75447 Sternenfels / Germany Internet: http://www.hamatech.com ISIN: DE0007309007, WKN: 730900 Bernhard Krause MetaCom Corporate Communications GmbH Telefon: +49 (0)6181-9828020 Fax: +49 (0)6181-9828010 eMail: Bernhard.Krause@go-metacom.de DGAP 08.05.2007 ---------------------------------------------------------------------- Language: English Issuer: HamaTech AG Ferdinand-von-Steinbeis-Ring 10 75447 Sternenfels Deutschland www: www.hamatech.de End of News DGAP News-Service ---------------------------------------------------------------------------
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