Ad hoc: Funkwerk AG: Funkwerk increases sales and earnings in Q3
13 November 2007: According to the final figures now available,
Funkwerk AG increased its revenues in the third quarter by 25 per
cent on the prior year, raising the volume from 53.3 mill. Euro to
66.8 mill. Euro. At the same time, quarterly earnings before interest
and taxes (EBIT) of 2.3 mill. Euro proved significantly higher than
in the previous year (0.2 mill. Euro).
Over the nine-month period, sales of the Thuringian technology group
listed in the Prime Standard thus rose by 18 per cent to over 193
mill. Euro (2006: 164 mill. Euro). The nine-month EBIT increased to
4.0 mill. Euro (2006: 1.6 mill. Euro). The consolidated net income
improved on the previous year, from 0.1 mill. Euro in 2006 to 0.5
mill. Euro. The earnings per share stood at 0.06 Euro (2006: 0.01
Euro).
In terms of cash flow, the company reported an equally positive
trend. On balance, the inflow of funds from operations in the third
quarter totalled 1.2 mill. Euro. The cash flow is the sum total of
the consolidated net profit plus depreciation and amounted to 12.5
mill. Euro as at the end of September (2006: 9.8 mill. Euro). At the
cutoff date, the order volume came to 150 mill. Euro, up by 67 per
cent on the prior-year 90 mill. Euro.
In the third quarter, the business trend by segment followed the same
uneven pattern as in previous periods. While Traffic & Control
Communication, after its reorganisation, was back on course for
profitable growth, Enterprise Communication once again failed to
achieve its sales target and will now undergo restructuring. A delay
in product placement also put pressure on the margin of Automotive
Communication, though revenues here remained in the target range.
Due to its customer structure, the sales distribution of Funkwerk in
fiscal 2007 is again defined by a strong asymmetry with emphasis on
the fourth quarter. Specifically, Funkwerk anticipates that the
completion of major projects by the end of the year will result in
sales of more than 100 mill. Euro, with significantly increasing
earnings. Based on the current order volume, this target is already
virtually secured.
The integration of acquisitions made early in the year are
progressing according to plan and will largely be finalised by the
year-end. The positive completion of critical projects taken over
still remains a risk for the group's earnings situation. Based on the
information currently available, however, the Executive Board expects
Funkwerk to reach its targets set for 2007, including sales of 300
mill. Euro and an EBIT of around 15 mill. Euro.
The full nine-month report of Funkwerk AG is available for
downloading on the Internet at www.funkwerk.com.
For further information contact
Funkwerk AG
Im Funkwerk 5
99625 Kölleda/Thuringia
Germany
Jörg Reichenbach
Investor Relations
Telephone: 0 36 35/458-346
Fax: 0 36 35/6 00 -507
reichenbach@funkwerk.com
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Funkwerk AG
Im Funkwerk 5 Kölleda Germany
WKN: 575314; ISIN:
DE0005753149; Index: HDAX, MIDCAP, CDAX, Prime All Share, TECH All
Share;
Listed: Geregelter Markt in Frankfurter Wertpapierbörse, Prime
Standard in Frankfurter Wertpapierbörse,
Freiverkehr in Börse Berlin, Freiverkehr in Bayerische Börse München,
Freiverkehr in Börse Düsseldorf, Freiverkehr in Börse Stuttgart,
Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg, Freiverkehr
in Niedersächsische Börse zu Hannover;