Klöckner-Werke AG
Klöckner-Werke AG: Financial figures for 2009
Klöckner-Werke AG / Enterprise 19.03.2010 08:15 Dissemination of a Media Release, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Klöckner-Werke AG: Financial figures for 2009 Frankfurt am Main, March 19, 2010 - 2009 was an extremely difficult financial year for the German machine-making industry as a whole, as well as for the Klöckner Group. Incoming orders were down by a total of 11% on what was already a weak previous year. The situation was particularly difficult in the first half of the year. From September, an initial trend reversal was observed following the important 'drinktec' trade fair. In view of the structure of our business and the size of most of the orders, incoming orders often only become sales after a delay of some months. Thus sales for 2009 also reflect the particularly critical order situation at the end of 2008 and are down 29% year-on-year. Revenues amount to a total of EUR 754 million, of which 90% is attributable to the Filling and Packaging Technology segment and 10% to the Other Industrial Holdings segment. The number of orders decreased so dramatically in the immediate sector environment that bitter price battles developed among the providers in order to be win orders and retain customers over the years to come. More and more contracts were concluded in the market where it no longer possible to guarantee that costs were covered. Klöckner was unfortunately obliged to face these challenges in order to avoid losing important customers for the future. Many of the measures introduced in the wake of the economic crisis to reduce overheads already started paying off directly in 2009. However, more far-reaching measures such as the restructuring of individual sites will only exert a positive effect on income from 2010. The year 2009 closed with losses due to the difficult economic situation. The Group's adjusted EBIT in the financial year came to minus EUR105 million. The financial statements for 2009 also contain non-recurring effects that impact on net income. In addition to special effects from impairments amounting to EUR70 million required as a result of impairment tests, expenses for restructuring measures in the amount of EUR25 million were incurred. The restructuring measures will enhance the Group's efficiency and relieve the pressure on future results. Taking into account the one-time effects, EBIT amounts to minus 200 million. After interest income and taxes, the consolidated result was minus 190 million after minus 36 million in the previous year. The Group expects the order situation to improve further in the coming months. However, until the relationship between prices obtained and running costs normalises, EBIT will continue to be negatively impacted - albeit to a lesser degree that in 2009. In the coming years, the Management Board anticipates growing market momentum for the technical equipment and machinery business. As the industry figures demonstrate, the market for filling and packaging machines, especially in the beverage sector, will grow steadily in the long term. The Management Board About Klöckner-Werke AG ISIN: DE0006780000/WKN: 678000, ISIN: DE000A0WMQY3/WKN : A0WMQY) Klöckner-Werke AG is a Group holding company whose subsidiaries operate globally in mechanical engineering and plant construction. In the 2009 financial year, the Group employed a workforce of approximately 6,000 and achieved sales of EUR754 million. The main focus of our business operations is on KHS AG, Dortmund. For many years now, the company has been established as a world leader in the provision of filling and packaging systems for both the beverages industry and the food and non-food industry. Other Klöckner Group companies produce machines and plants for plastic processing and shoe manufacture. With a stake of over 95%, the majority shareholder of Klöckner-Werke AG is Salzgitter Mannesmann GmbH. There is a so-called squeeze-out demand on the part of the majority shareholder. Contact: Klöckner-Werke AG Andrea Spiekermann Media/Investor Relations Telefon: +49 (0)69 90026-510 Fax: + 49 (0)69 90026-44-510 kommunikation@kloecknerwerke.com 19.03.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------------- Language: English Company: Klöckner-Werke AG Postfach 17 04 55 60078 Frankfurt am Main Deutschland Internet: www.kloecknerwerke.de End of News DGAP-Media ---------------------------------------------------------------------------
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