Funkwerk AG
Drop in export business at FunkwerkFunkwerk AG:
Funkwerk AG / Profit Warning 16.10.2009 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Kölleda, 16 October 2009. After an unexpected sharp drop in export, Funkwerk AG (ISIN DE0005753149) is forced to scale back its expectations for 2009. Based on figures and information now available, the economic recovery previously forecasted for the latter half of the year, will likely fail to materialise. In fact, the loss of a major project from abroad will cause sales to slump in comparison to the previous year. Furthermore, negative factors such as the crisis in the automobile supply sector, the investment restraint of transport companies and in other sectors continue to prevail. Taking into consideration all risks, the Executive Board of Funkwerk thus anticipates group sales in 2009 to drop to around EUR230m (2008: EUR290.2m). The operating loss (EBIT) is expected to increase accordingly by the end of the year. The current sales trend also necessitates further restructuring and adjustment measures, placing an additional burden on earnings (EBIT) in fiscal year 2009 of around EUR10m and requiring non-scheduled depreciations and value adjustments. Taking into account all risk factors and the restructuring costs, the group EBIT for the whole year is predicted to be negative at up to EUR19m. The current restructuring measures, however, will mean permanent cost savings for 2010 and subsequent years and set the stage for a positive business and earnings trend in 2010. For further information contact Funkwerk AG Im Funkwerk 5 99625 Kölleda/Thuringia Germany Jörg Reichenbach Investor Relations Telephone:+49 ( 0) 36 35/6 00 -3 46 Fax: +49 (0) 36 35/6 00 -5 07 reichenbach@funkwerk.com 16.10.2009 financial News transmitted by DGAP --------------------------------------------------------------------------- Language: English Company: Funkwerk AG Im Funkwerk 5 99625 Kölleda Deutschland Phone: +49 (0)3635 600 0 Fax: +49 (0)3635 600 507 E-mail: info@funkwerk.com Internet: www.funkwerk.com ISIN: DE0005753149 WKN: 575314 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Hamburg, Stuttgart End of News DGAP News-Service ---------------------------------------------------------------------------
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