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DJ DGAP-IRE: SCHULER AG: Interim management statement according to § 37x WpHG within the 1st half of fiscal year 2008/09

DJ DGAP-IRE: SCHULER AG: Interim management statement according to § 37x WpHG within the 1st half of fiscal year 2008/09

SCHULER AG / Release of an announcement according to Article 37x of the WpHG [the German Securities Trading Act] 16.02.2009 Interim report according to Article 37x of the WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. =-------------------------------------------------------------------------- Interim management statement according to § 37x WpHG within the 1st half of fiscal year 2008/09 * Sales reach EUR 228.4 million * New orders amount to EUR 183.5 million * Order backlog worth EUR 694.7 million * EBIT of EUR 9.0 million New orders down In the first quarter of fiscal year 2008/09 (October 1 to December 31, 2008), which was the most difficult in decades for most companies, Schuler also experienced a decline in demand. New orders reached EUR 183.5 million, compared with EUR 410.2 million in the first quarter of the previous year. However, the prior-year figure includes a major order from BMW - the largest in the company's history - which can be regarded as a special item. Consolidated sales in this period amounted to EUR 228.4 million, compared with EUR 204.9 million in the same period of the previous fiscal year. Order backlog stood at EUR 694.7 million, following an amount of EUR 904.9 million in the previous year. Sales by region In the period under review, the Group generated sales of EUR 97.5 million in Germany, compared with EUR 93.3 million in the same prior-year period, while sales in the rest of Europe reached EUR 45.8 million, compared with a prior-year figure of EUR 39.0 million. In America, sales in the first quarter of 2008/09 totaled EUR 48.7 million, following EUR 39.6 million in the previous year, while in Asia sales reached EUR 36.1 million, compared with EUR 30.6 million. 57.3% of consolidated sales were generated outside Germany, compared with 54.5% in the previous year. Earnings In the first quarter of fiscal year 2008/09, EBIT amounted to EUR 9.0 million (prior year: EUR 8.6 million). After consideration of increased financial expenses, earnings before taxes (EBT) totaled EUR 1.8 million, compared with EUR 2.6 million in the comparable prior-year period. Financial position Capital expenditures amounted to EUR 2.4 million and were thus well below the prior-year figure of EUR 8.5 million. Depreciation and amortization totaled EUR 6.7 million (prior year: EUR 7.1 million). At EUR 134.7 million as of December 31, 2008, net financial liabilities were only slightly higher than on the previous financial reporting date (EUR 130.3 million as of September 30, 2008). Employees As of December 31, 2008, the Schuler Group employed 5,636 people (including apprentices), compared with 5,634 on September 30, 2008. As of December 31, 2008, around 79% of the Group's work force (4,449 people) were employed in Germany. Headcount at the Group's facilities outside Germany totaled 1,187. Outlook The current financial and economic crisis will have a strong impact on Schuler's fiscal year 2008/09. The further course of business cannot be reliably forecast at the present moment, as it will depend significantly on the development of the financial and economic crisis and the implementation of the planned economic recovery programs. Against this backdrop, it is expected that the volume of business will decline. Schuler AG is thus carefully monitoring the economic development on its international markets, in order to react swiftly to any changes in the macroeconomic conditions. Contact: Schuler AG, Tobias Apfel, Head of Corporate Communications/Investor Relations, Phone +49 7161 66-829, [email protected] 16.02.2009 Financial News transmitted by DGAP =-------------------------------------------------------------------------- Language: English Issuer: SCHULER AG Bahnhofstraße 41 73033 Göppingen Deutschland Internet: End of News DGAP News-Service =--------------------------------------------------------------------------

(END) Dow Jones Newswires

February 16, 2009 03:49 ET (08:49 GMT)

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