15.08.2013
Funkwerk AG DE0005753149
DGAP-News: Funkwerk AG improves order bookings in H1 2013
DGAP-News: Funkwerk AG / Key word(s): Half Year Results
Funkwerk AG improves order bookings in H1 2013
15.08.2013 / 11:04
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Funkwerk AG improves order bookings in H1 2013
- Sales of continued business segments reduce from EUR 62.7m to EUR 49.7m;
group earnings improve
- EBITDA reaches breakeven at end of June (H1 2012: EUR -0.8m); EBIT
improves from EUR -4.2m to EUR -3.0m
- Steady group revenue and better earnings forecast for full FY2013
Kölleda, 15 August 2013 - In the first six months of 2013 Funkwerk AG
continued to implement its restructuring programme introduced over the last
roughly two years, reporting progress particularly in earnings position.
While consolidated sales generated by its continued business segments in
the first six months of 2013 decreased around 21 per cent to EUR 49.7m on
the prior-year benchmark at EUR 62.7m, the group's performance on the whole
improved reaching breakeven point in operating earnings before interest,
taxes and depreciation (EBITDA for H1 2012: EUR -0.8m) and EBIT (without
restructuring costs) of EUR -3.0m, after EUR -4.2m in the prior-year
period. Crucial factors here in particular were the efficiency improvement
measures initiated in recent years, which led to cost optimisation.
Earnings after taxes improved even more notably, up by 30 per cent to EUR
-3.8m (H1 2012: EUR -5.5m), due to considerably less restructuring costs
than in the previous year. Net earnings per share stood at EUR -0.48 (H1
2012: EUR -0.68).
Further progress in the group was made in activities to focus on its two
core segments, Traffic & Control Communication (TCC) and Security
Communication (SC), and in consistently expanding its market reach. Having
sold a number of operations in the previous year, Funkwerk shed a further
two divisions of its TCC segment, Microsyst Systemelectronic GmbH in Weiden
and its British subsidiary Funkwerk Information Technologies York Limited,
in the first six months of 2013. In order to ensure comparability with the
previous year, the group's statements of comprehensive income for the two
years were adjusted for all corporate units sold. Incoming business, which
increased from EUR 57.7m to EUR 60.4m in a six-month comparison, was
positively affected primarily by intensified foreign activities, the
development of the group's system expertise and its growing service
business. At the end of June 2013, Funkwerk reported an order backlog of
EUR 72.7m (30 June 2012: EUR 84.3m).
In the first half of 2013, cash outflow relating to current operations
amounted to EUR 6.5m, compared to EUR 9.3m in the prior-year benchmark
period. Equity in the Funkwerk group decreased from EUR 32.2m at the end of
2012 to EUR 27.2m. The balance sheet total declined from EUR 113.1m at the
year-end 2012 to EUR 94.9m. The equity ratio remained virtually unchanged
at 28.6 per cent (31 December 2012: 28.5 per cent). The number of employees
reduced from 788 to 755 in the first six months of 2013.
Unless the general economic setting deteriorates considerably, Funkwerk
expects consolidated sales for the full 2013 financial year of around EUR
140m (unadjusted sales in 2012: EUR 141.3m). This estimate is based on the
increase in incoming business, which is expected to continue in both
segments. The group's operating earnings (without restructuring costs) are
forecast to improve significantly on the previous year, as that its current
cost saving measures will take full effect in 2013 (unadjusted EBIT for
2012: EUR -5.1m).
The full interim report is available at www.funkwerk.com.
For further information please contact:
Funkwerk AG
Im Funkwerk 5
99625 Kölleda/Thuringia
Germany
Kerstin Schreiber
Tel: +49 3635 458 500
Fax: +49 3635 458 399
E-mail: [email protected]
End of Corporate News
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15.08.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Funkwerk AG
Im Funkwerk 5
99625 Kölleda
Germany
Phone: +49 (0)3635 600 0
Fax: +49 (0)3635 600 507
E-mail: [email protected]
Internet: www.funkwerk.com
ISIN: DE0005753149
WKN: 575314
Listed: Regulierter Markt in München; Freiverkehr in Berlin,
Düsseldorf, Hamburg, Stuttgart; Frankfurt in Open Market
End of News DGAP News-Service
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226084 15.08.2013
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