EANS-Adhoc: A-TEC Industries AG
A-TEC Industries significantly downgrades EBIT
margin guidance for 2010
ad-hoc disclosure transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement.
Company Information/Outlook 2010
14.10.2010
Vienna, 14 October 2010 - Management is downgrading its announced outlook for the EBIT margin in 2010 to about minus 1%. The main reason for this is cost overruns on an Australian power station project being executed by the Plant Construction Division. The revenue forecast of about EUR 2.7 billion announced in the interim report for the first half of 2010 remains in place.
To the best of management´s knowledge the losses incurred due to the Australian power station project will only result in a one-time charge, taken in the current financial year, and no further costs are anticipated in 2011, meaning that the EBIT margin should return to about 3%.
The Plant Construction Division´s bidding performance has maintained the improvement seen since the start of the current quarter. A number of contracts for energy and environmental technology are about to be awarded. The long-term nature of the projects in question means that firm orders secured now will not affect profits until the second half of 2011.
end of announcement euro adhoc
Further inquiry note:
Investor Relations
Gerald Wechselauer
Phone: +43 1 22760 - 130
Email: ir@a-tecindustries.com
Press Office A-TEC Industries AG
Claudia Müller-Stralz
Pleon Publico Public Relations & Lobbying
Phone: +43-1-71786-107
E-Mail: claudia.mueller@pleon-publico.at
Branche: Holding companies
ISIN: AT00000ATEC9
WKN:
Index: ATX Prime
Börsen: Wien / Regulated free trade