19.08.2008

High level of new orders in first three quarters of FY 2007/08

Schuler AG (ISIN DE000A0V9A22) can look back on a successful first nine months of its fiscal year 2007/08 (October 1, 2007, to June 30, 2008). New orders received during the reporting period reached a very encouraging € 778.2 million. Earnings before interest and taxes (EBIT) amounted to € 24.7 million in the first three quarters of fiscal 2007/08. Sales in the same period reached € 659.3 million.

The current figures for the first nine months include Müller Weingarten, while the prior-year figures refer to Schuler without Müller Weingarten. A comparison with the previous year has thus only limited relevance.

New orders in the first three quarters of fiscal 2007/08 reached € 778.2 million, compared with € 474.3 million in the same period of the previous fiscal year. At € 818.4 million, order backlog as of June 30, 2008, was well above the prior-year figure of € 446.9 million.

In the period under review, the Group generated sales of € 659.3 million, compared with € 357.3 million in the previous year. Sales revenue was divided as follows: Germany 41.3%, Europe without Germany 19.5%, America 20.6%, Asia 18% and other regions 0.6%. Non-German sales thus accounted for around 59% of total Group sales, compared with around 70% in the previous year. This is mainly due to the fact that Müller Weingarten traditionally generates a far greater proportion of its sales in Germany, compared with Schuler.

In the first three quarters of fiscal year 2007/08, EBIT amounted to € 24.7 million (prior year: € 11.9 million). Earnings before taxes (EBT) totaled € 7.1 million, compared with € 2.3 million in the comparable prior-year period.

As of June 30, 2008, the Schuler Group employed 5,531 people (including apprentices), compared with 5,710 as of September 30, 2007. The decline is partly due to the sale of the Group’s Die Casting division in November 2007. As of June 30, 2008, around 79% of the Group’s work force (4,352 people) were employed in Germany. Headcount at the Group’s facilities outside Germany totaled 1,179 as of the balance sheet date.

The capital increase of up to € 9.1 million from authorized capital adopted by the Board of Management and Supervisory Board of Schuler AG on March 17, 2008, was successfully placed in full. All 3.5 million new shares offered for subscription in the capital increase were purchased at a subscription price of € 10.00 per share. The subscription price of € 35 million was paid up in full. The capital increase was entered in the Commercial Register on April 7, 2008.

The conversion of all 10.5 million preferred shares into new common shares with voting rights (ISIN DE000A0V9A22), as adopted by the Annual Shareholders' Meeting of Schuler AG on April 10, 2008, has been

completed. The conversion was entered in the Commercial Register on June 19, 2008. On the same day, the new shares were admitted for trading on the Regulated Markets of the Frankfurt Stock Exchange and the Stuttgart Stock Exchange. The shares were listed at the Frankfurt and Stuttgart exchanges for the first time on June 20, 2008.

"The integration of Schuler and Müller Weingarten continues to make good progress. This will raise the efficiency of our Group while at the same time establishing the necessary conditions for further growth," states Dr. Wolfgang Baur, CFO of Schuler AG. He adds: "Due to our strong order position, we expect a further improvement in the Group’s operating result in the last quarter of fiscal 2007/08."