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SMT Scharf AG publishes final figures for 2009
Revenue up 7% to € 53.3 million / EBIT margin of 14.2% / Proposed dividend of € 0.70 per share
At the same time, the SMT Scharf Group increased its EBIT slightly to € 7.6 million (previous year: € 7.5 million). This corresponds to a current EBIT margin of 14.2% (previous year: 15.1%). The shares of both cost of materials and other operating expenses only changed slightly while the personnel expenses ratio fell from 24% to 21%. EBIT includes noncash oneoff expenses of € 0.8 million in connection with the deconsolidation of SMT Scharf Saar GmbH after this company filed for insolvency in October 2009. As a result of a higher tax rate, consolidated net earnings fell slightly from € 5.3 million to € 5.1 million.
At the end of 2009 the order book totaled € 8.4 million, with 91% of this figure stemming from countries other than Germany. The previous year's figure of € 26.2 million was exceptionally high because some mine operators issued orders in 2008 for which the machines were to be supplied in several stages. In addition, there also were unscheduled delays in orders from Russia at the end of 2008.
"We are pleased that we have been able to more than compensate for lower demand due to the international economic crisis and due to Germany's decline with growth in other countries in 2009," comments Dr. Friedrich Trautwein, SMT Scharf AG's CEO, on the figures. "Once again, the share of revenue from abroad increased. That shows that our strategy of expansion is working and that it already has generated additional international growth potential for us. This is the reason why we are confident that we will be able to further increase our revenues and earnings on average over the coming years."
The Managing and Supervisory Boards are proposing to the General Meeting for fiscal year 2009 to distribute a dividend of € 0.70 per share. This corresponds to a distribution rate of 54%. Based on the closing price of SMT Scharf's shares on March 4, 2010, the dividend return is 6.3%.
The full group financial report for 2009 will be available for download during the course of the day at www.smtscharf.com in the Investor Relations section.
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