59075 Hamm, de
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SMT Scharf AG publishes Q1 figures 2008
Earnings in Q1 2008 were depressed by the temporary closure of the RAG mine in Germany's Saarland region after the earthquake on February 23, start-up costs for SMT Scharf AG's foreign branches in Russia and China, and delays in processing one project.
EBIT fell 57 % from € 1.6 million to € 0.7 million. Net income thus totaled € 0.5 million in the period under review (previous year: € 1.1 million).
In 2008 and the years thereafter, SMT Scharf is aiming to generate further growth in its revenues and EBIT. However, it is not yet possible to fully assess which impact the further development in mining in the Saarland region will have on SMT Scharf.
Dr. Friedrich Trautwein, SMT Scharf AG's CEO continues to be optimistic about the future:
"In 2007, we already recorded more than 70% of our revenues in high-growth foreign markets such as China and Russia. That means that we have excellent foundations to compensate for the downturn in our German business that has already been predicted for several years."
The full report for the first quarter of 2008 can be downloaded at www.smtscharf.com
("Investor Relations" section) from May 16, 2008.
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