Bertrandt at steady level

Solid revenues and earnings in the first quarter of fiscal 2008/2009

(PresseBox) ( Ehningen, )
The Bertrandt Group continued to put on a solid performance in a strained economic setting. In the first quarter of fiscal 2008/2009, Bertrandt, an engineering partner and provider of development services to the international automotive and aviation industries, generated revenues of EUR 112.2 million, up from EUR 96.0 million in the same quarter of the previous year. EBIT came to EUR 11.1 million; up from EUR 10.4 million in the pre-year period. Based on new legislative proposals and the technology offensives towards future mobility, Bertrandt foresees, once the market recovers, medium to long-term potential on the market for development services.

Demanding market conditions

"The carmakers are working hard on new solutions to meet legislation and their buyers' call for individual vehicle concepts," says Management Board chairman Dietmar Bichler. "With modern technologies the manufacturers want to respond to the mounting demand for more safety, comfort as well as environmentally-friendly mobility despite sharp slumps in sales," Bertrandt's CEO adds. Partners like Bertrandt can support the manufacturers and system suppliers with all-in development solutions in meeting these challenges. The market drivers are mostly intact. This is also reflected in the German automotive industry's high level of spending on research and development.

Although Bertrandt put on a solid performance in the first quarter of the current financial year, the Company is feeling the fallout from its customers' production cutbacks and temporary postponement of projects. "Combined with strict cost management, we also reserve the option, following the measures taken by our customers, to manage capacity effectively and at short notice," Bichler adds. Revenues in the first three months of the current fiscal year were thus increased to EUR 112.2 million (previous year EUR 96.0 million). EBIT rose slightly to EUR 11.1 million, up from EUR 10.4 million in the previous year. Performance in terms of earnings after income taxes was, with a year-on-year increase from EUR 7.3 million to EUR 8.2 million, also satisfactory. Capital expenditure was up by EUR 3.7 million to EUR 9.1 million. One reason for this is the acquisition on 18 December 2008 of a stake in Aeroconseil S. A. The aim with this five-percent equity holding is to further expand the close partnership of the two companies via their Bertrandt Aeroconseil GmbH joint venture.

Personnel and cost management

On 31 December 2008, Bertrandt employed 6,127 engineers, technicians and commercial staff across the group (6,080 on 30 September 2008). "The sum of our staff's work combined with efficient cost and capacity management is what makes the difference for Bertrandt's success," Dietmar Bichler emphasises. The Company's broadly-based range of services provides development opportunities and promotes the strengths of its employees.
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