Schaltbau records strong, profitable growth in 2011 - dividend to rise to € 1.80 per share

Munich, (PresseBox) - The Schaltbau Group displayed another top performance in fiscal year 2011. Both sales and Group net profit were significantly up on the previous year's figures and surpassed all of our expectations. Sales rose by 13.6% to € 318.4 million. Group EBIT amounted to € 27.5 million (2010: € 23.8 million), which was partly attributable to the increased sales and resulting economy of scale and partly due to one-off gains from the first-time consolidation as well as acquisition costs. Overall, the EBIT margin again improved from 8.5% to 8.6% of sales during the year under report.

Preliminary Group net profit increased from € 14.8 million to € 21.7 million. The figure takes one-off effects into account connected with increases in investments in other entities. The profit attributable to shareholders of Schaltbau Holding AG amounted to € 18.7 million, a considerable improvement on the previous year (2010: € 12.1 million) and undiluted earnings per share stood at € 9.38 (2010: € 6.50).

Net bank liabilities were again reduced to € 27.4 million (2010: € 31.5 million). Due to the good Group earnings for the year and the positive influence on equity caused by the 98% conversion of the convertible bond, the equity ratio as at 31 December 2011 rose by 10.4 percentage points on the previous year's figure to reach 27.9%.

In view of the renewed positive earnings performance achieved in fiscal year 2011 and the ongoing favourable prospects for the further business performance of the Schaltbau Group, the Executive Board will put forward a proposal to the Supervisory Board regarding the appropriation of profit to pay a dividend of € 1.80 (2010: € 1.10).

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