Press release BoxID: 166241 (CeoTronics AG Audio Video Data Communication)
  • CeoTronics AG Audio Video Data Communication
  • Adam-Opel-Straße 6
  • 63322 Rödermark
  • Contact person
  • Thomas Stamm
  • +49 (6074) 8751-724

Consolidated nine-month report for FY 2007/2008

(PresseBox) (Rödermark, ) .
- Revenues +6.1%
- EBITDA +9.0%
- EBIT +10.5%
- Consolidated profit for the first nine months +21.4%
- Order backlog +177.9%

CeoTronics AG Audio Video Data Communication (ISIN: DE0005407407), Adam-Opel- Strasse 6, 63322 Rödermark (Germany), listed in Frankfurt Stock Exchange s Prime Standard segment and included in the Technology All Share index, recorded consolidated revenues of €14,889 thousand in the first nine months of fiscal year 2007/2008 in accordance with IFRSs. The Company therefore exceeded the previous year's record nine-month revenues by 6.1%.

The consolidated order backlog as of February 29, 2008 increased by 177.9% year-onyear. The current order backlog is at its highest level by far in the Company's history.

Consolidated EBITDA (Earnings before Interest, Taxes, Depreciation and goodwill Amortization/impairment) rose by €184 thousand compared with the prior-year figure for the first nine months, from €2,035 thousand to €2,219 thousand. Consolidated EBIT improved by €174 thousand in the same period, from €1,655 thousand to €1,829 thousand, and the consolidated profit rose by €208 thousand, from €973 thousand in the previous year to €1,181 thousand.

Gross cash flow increased by €218 thousand (+16.1%) year-on-year in the nine-month period under review, from €1,353 thousand to €1,571 thousand.

Investments in the first nine months of fiscal year 2007/2008 totaled €468 thousand.

Excluding the one-time acquisition of real estate in the prior year, investments increased by €192 thousand or 69.6%.

Earnings per share improved by €0.03 to €0.18, compared with €0.15 for the same period last year. The split of shares at a ratio of 3:1 from January 31, 2008 is already reflected in these figures.

Consolidated equity as of February 29, 2008 amounted to €12,286 thousand; the equity ratio was 71.9% (previous year: 67.6%).

Issuer's information and explanatory remarks on this ad hoc disclosure:

The year-on-year improvement in revenues is due in particular to revenue growth at CeoTronics Germany of 37.4%, from €5,307 thousand to €7,290 thousand. This was mainly driven by the delivery and invoicing of the first batch of the major order from the German Armed Forces.

Expressed in euros, revenues also increased - in some cases substantially - at CeoTronics Switzerland (+73.5%), CeoTronics France (+16.3%), CeoTronics Poland (+84.9%), and CeoTronics U.S.A. (+7.1%). As expected, CeoTronics Spain (-40.7%) was unable to match the previous year's very high level of revenues, but continues to make the largest contribution to revenues after CeoTronics Germany.

CeoTronics U.S.A.'s business performance and results improved year-on-year. In the first 9 months of fiscal year 2007/2008, its operating loss before currency translation adjustments and interest amounted to USD 73 thousand (previous year operating loss of USD 125 thousand).

The number of employees in the Group (including trainees) increased to 148 as of February 29, 2008 (February 28, 2007: 147).

At +35.1%, CeoTronics' share price performed positively in the period under review (June 1, 2007 to February 29, 2008).

In the third quarter of fiscal year 2007/2008, production work was performed in relation to the delivery of the second batch of the major order of CT-DECT JetCom systems to the German Armed Forces. The second batch is expected to be delivered and invoiced by the end of May 2008.

Thomas H. Günther, Chairman of the Board of Management: "We are satisfied with the Company's nine-month results. Our results as of February 29, 2008 and our very high order backlog strengthen our belief that consolidated revenues of approximately €21.0 million, EBIT of approximately €2.6 million, and profit of approximately €1.7 million are possible in fiscal year 2007/2008."

CeoTronics expects its positive business trend to continue in fiscal year 2008/2009 due to the very high order backlog and the expected investments by German law enforcement customers in communications accessories for the new digital radios.