15.02.2008
Record new orders in first quarter of 2007/08
New orders reach € 410.2 million - EBIT more than doubled to € 8.6 million - Integration of Müller Weingarten on schedule
Schuler AG (WKN 721063/ISIN DE0007210635) can look back on a positive first quarter of its fiscal year 2007/08 (October 1 to December 31, 2007). Compared with the first quarter of the preceding fiscal year 2006/07, EBIT climbed from € 3.8 million to € 8.6 million. At the same time, new orders reached a record € 410.2 million. The integration of Müller Weingarten is running on schedule.The current quarterly figures include Müller Weingarten, while the prior-year figures relate to Schuler before the takeover of Müller Weingarten. A comparison with the previous year has thus only limited relevance.
High level of new orders
New orders rose from € 131.9 million to € 410.2 million. Apart from Large Mechanical Presses and Standard Presses, there was also strong growth in the Automation and Service segments. As of December 31, 2007, the order backlog amounted to € 904.9 million, compared with € 341,8 million in the previous year.Consolidated sales amounted to € 204.9 million in the first quarter of fiscal 2007/08, compared with € 120.1 million in the same period of the previous fiscal year. Sales were distributed as follows: North and South America 19 percent, Germany 46 percent, Europe without Germany 19 percent, Asia and other regions 16 percent.
Earnings more than doubled
Earnings before interest and taxes (EBIT) grew from € 3.8 million to € 8.6 million in the first quarter of 2007/08. Müller Weingarten also made a positive contribution to this development.As of December 31, 2007, the Schuler Group employed 5,570 people (including apprentices), compared with 5,710 as of September 30, 2007. The decline is mainly due to the sale of the Group’s Die Casting division. As of December 31, 2007, around 79% of the Group’s work force (4,424 people) were employed in Germany. Headcount at the Group’s facilities outside Germany totaled 1,146
Further integration milestones through merger of various subsidiaries
At the beginning of the year, the operating activities of the respective Schuler and Müller Weingarten subsidiaries in France, the UK, Spain and the USA were merged. At the same time, the business of Müller Weingarten Werkzeuge was transferred to Schuler Cartec. The Schuler Group’s die construction business is now under the sole management of Schuler Cartec, with facilities in Göppingen and Weingarten. There were no redundancies relating to these measures.CEO Jürgen Tonn states, “As our new order position clearly illustrates, customers are responding positively to our integration process. We will soon successfully complete this process and achieve a further significant increase in the efficiency of our Group. At the same time, we have established the basis for new and profitable growth.”
Outlook
On the basis of the positive figures for the first quarter of its fiscal year 2007/08, the Board of Management of Schuler AG is very confident of achieving further growth in sales and operating profits in the fiscal year 2007/08.Please also read
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Tobias Apfel
Head of Corporate Communications & Investor Relations
Tel.: + 49 (0) 71 61 66-829
Contact us
Head of Corporate Communications & Investor Relations
Tel.: + 49 (0) 71 61 66-829
Contact us
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