Schaltbau Group again reports sustained business performance for third quarter of 2008

(PresseBox) ( München, )
The companies of the Schaltbau Group recorded renewed growth in firm orders, sales revenues and earnings at 30 September 2008 compared with the corresponding period of the previous year. The order-intake for the third quarter totalled ¤72.4 million, approximately 7% below the previous year's record figure of ¤78.1 million. Due to the good order-book situation however, sales revenues during the same period rose sharply by 22% from ¤58.2 million to ¤71.2 million. The rise in earnings for the quarter from ¤1.9 million last year to ¤3.4 million or 79% significantly boosted earnings per share (undiluted) from ¤1.01 to ¤1.69 in the third quarter.

During the first nine months of the reporting year the Group acquired orders totalling ¤224.0 million (previous year: ¤209.2 million). The increase of ¤14.8 million was principally due to the consolidation of Pintsch Bubenzer for the full fiscal year 2008. The company was acquired in July 2007. At 30 September 2008 the Group order-book stood at ¤ 193.7 million, exceeding the previous year's figure of ¤182.8 million for the corresponding period by 6%.

Due to the strong order-book situation, Group sales revenue for the nine-month period to 30 September rose by a substantial 26% from ¤167.9 million last year to ¤211.3 million. The earnings performance improved on last year's figures as a result of the increase in sales revenues. Earnings before interest and taxes (EBIT) for the nine-month period to 30 September amounted to ¤18.1 million compared with ¤10.5 million in the corresponding period last year. Group net profit rose from ¤6.8 million to ¤12.5 million. The profit attributable to shareholders thus increased from ¤5.9 million to ¤11.6 million and earnings per share (undiluted) from ¤3.16 to ¤6.20.
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