elexis AG / Half Year Results
06.08.2009
Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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+++ elexis continues to achieve positive result (EBIT in the amount of euro
2.2 million)
+++ Sales break-even point to be lowered further through personnel
reduction and cost savings programmes
+++ High capital portion in the amount of euro 66.5 million guarantees the
Company a stable financial situation
Wenden, August 6, 2009 - In the first half year 2009 the elexis Group
achieved sales of euro 65.3 million, which were thus approximately 26
percent lower than the amount of the prior year due to the economic
situation. In spite of the adverse general economic conditions and the
resulting decline in sales, the elexis Group was able to achieve a positive
result in the first half year 2009. The Group reported earnings before
interest and taxes (EBIT) in the amount of euro 2.2 million (prior year:
euro 13.6 million). With an EBIT of euro 0.8 million the elexis Group also
remained in the black during the second quarter 2009. The EBIT margin
amounted to 3.4 percent during the period under report following 15.4
percent in the prior year. Consolidated earnings before taxes (EBT)
amounted to euro 1.5 million after the first six months 2009 (prior year:
euro 12.8 million). Earnings per share amounted to euro 0.09 (prior year:
euro 0.91) on the basis of 9.2 million shares in circulation. The elexis
Group achieved net income for the period (after deduction of minority
interests) of euro 0.8 million (prior year: 8.4 million).
Incoming orders of the elexis Group declined as expected during the first
half year. Following a minus of approximately 25 percent in the first
quarter, incoming orders during the first six months 2009 showed a decline
of roughly 31 percent versus the comparative prior year period. Compared
with the branch the elexis Group performed, however, better than the
average of the German mechanical engineering companies. According to
information of the Verband deutscher Maschinen und Anlagenbau (VDMA),
incoming orders declined by roughly 47 percent versus the prior year. Due
to its positioning in innovative market niches elexis can distance itself
positively from the trends in the corresponding branches.
With a share in sales of euro 56.8 million and a contribution to the result
(EBIT) of euro 3.9 million, Factory Automation, Steel and Printing
continued to represent the major pillar of the Group. The Factory
Automation, Plastics division is in particular negatively affected by the
economic crisis. Whilst the VDMA indicates a minus of 58 percent in
incoming orders for the robotics and automation sector, elexis could
distance itself slightly positively with a decline in orders in the amount
of 31 percent versus the prior year. This was above all attributable to the
postponement of projects due to the continuing reluctance to invest. During
the period under report sales amounted to euro 8.5 million (prior year:
euro 19.0 million). The EBIT showed a negative amount of 0.6 million
following a positive EBIT of euro 2.8 million during the comparative prior
year period.
Shareholders' equity declined to euro 66.5 million due to the payment of a
dividend of euro 4.4 million. The equity ratio amounted to 53.4 percent in
comparison with 53.1 percent as at 31.12.08.
The high portion of shareholders' equity as well as the liquid funds and
the low level of liabilities to banks continue to guarantee the elexis
Group a stable and solid financial situation.
Outlook
In spite of the adverse environment the elexis Group continues to remain
confident with regard to the current fiscal year. The development of the
worldwide economy indicates a further weakening of demand. elexis will not
be able to fully distance itself from this trend. Nevertheless, the Company
is placing major emphasis on expanding further innovation strength and
closeness to the customers. The objective of the Management Board is to
assure the profitability of the elexis Group for the current fiscal year
and to create the prerequisites for profitable growth in 2010.
With the measures for cost optimisation, which were already implemented as
from the third quarter 2008, the Company is on the right path for reacting
to the economic setback. The sales break-even point will thus be reduced
further. The number of employees was already reduced by 51 from 808 to 757.
In addition, the number of contract workers was reduced by 46. Then
reduction of flexible time and lifetime working accounts are complementing
these measures. Short working time is continuing in the Printing and
Plastics divisions. However, the consequences of the cost savings resulting
from these were not yet fully effective during the first half year. The
elexis Group is meeting the changed general conditions with an innovation
offensive. The product range is continuously being expanded by new
innovative products. Concentration on the mega trends of the future is
common to all business activities of the elexis Group. The business model
of the elexis Group, i.e. cost leadership, technology leadership,
diversification and market leadership, has a stabilising influence on the
development of the Company and will remain unchanged even at times of
economic setback.
The full results and the half year financial report as at June 30, 2009 are
accessible immediately under www.elexis.de.
The shares of elexis AG (ISIN: DE 000 508 5005) are listed in the Prime
Standard at the Frankfurt Stock Exchange. elexis AG is one of the companies
included in the SDAX.
Please address enquiries to:
Gabriele Bornemann
Manager Investor Relations
elexis AG
Industriestrasse 1
D-57482 Wenden
Tel.: +49 (0) 2762 / 612 - 136
Fax: +49 (0) 2762 / 612 - 135
Email: info@elexis.de
DGAP 06.08.2009
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Language: English
Issuer: elexis AG
IndustriestraÃe 1
57482 Wenden
Deutschland
Phone: +49 (0)2762 612 - 130
Fax: +49 (0)2762 612 - 135
E-mail: eicke@elexis.de
Internet: www.elexis.de
ISIN: DE0005085005
WKN: 508500
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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DGAP-Adhoc: elexis AG: the results of the first half year 2009
| Source: EQS Group AG