euro adhoc: Parsytec AG
Financial Figures/Balance Sheet
Revenue and earnings
below expectations, gross margin stable at 56 %
Market leadership in Steel expanded further
Revenue and income forecast adjusted for year as a whole
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
6-month report
27.08.2007
Ad hoc release according to § 15 WpHG
Aachen - 27 August 2007. Parsytec AG - the world's leading supplier of surface and web inspection systems for strip products - has further expanded its market leadership in surface inspection systems for the steel industry with a share of more than 60 % of all systems ordered in the first half of 2007. After the moderate development in the second half of 2006, this market recovered slightly in the first half of 2007. Demand in the paper industry remained stable overall with relatively low unit figures.
Revenue and earnings down as against the previous year
In the first half of 2007, Parsytec generated revenue of EUR 11.1 million, down 15 % on the previous year. At EUR 9.9 million, 89 % of this related to the Inspection segment and EUR 1.2 million or 11 % related to the pdi segment. In addition to orders being postponed, the decline in revenue was primarily due to the weak order entry figure of EUR 9.4 million for the second half of 2006. At 56 %, the gross margin in the first half of 2007 was unchanged as against the same period of the previous year. EBIT declined from EUR 1.3 million in 2006 to EUR 0.3 million (down 74 %). EAT amounted to EUR 0.3 million after EUR 1.0 million in the previous year (down 73 %).
Outlook: moderate revenue growth with an EAT margin of 5 % forecast
Due to the weak revenue and order entry development in the first half of 2007, contrary to the original planning of revenue growth just in the double digits, the Company is now expecting a more moderate revenue growth. This is primarily due to the postponement of orders in the first half of the year. The Executive Board is forecasting rising order entry figures for the second half of the year, though this will only partially contribute to revenue for financial year 2007 on account of the duration of projects. A declining gross margin is still expected for the second half of the year. The achievement of a net return on revenue of approximately 5 % is still regarded as possible.
Overview of business development in the first half of 2007
|(EUR million) |H1 |H1 | | |2007 |2006 | |Order entry |10.9 |13.2 | |Revenue |11.1 |13.1 | |EBIT |0.3 |1.3 | |EAT |0.3 |1.0 | |Net return on revenue |2.4 % |7.3 % | |Return on equity (before|5.6 % |11.6 % | |taxes) | | | | | | |
Parsytec AG Investor Relations Auf der Huels 183 52068 Aachen
Germany
Tel +49 (241) 9696 200 Fax +49 (241) 9696 500
E-mail: ir@parsytec.de Internet:www.parsytec.de
end of announcement euro adhoc 27.08.2007 16:03:22
Further inquiry note:
Lothar Kronen
Director Finance
Tel.: +49 (0)241-9696576
E-Mail: KRO@parsytec.de
Branche: Software
ISIN: DE000A0JQ4J9
WKN: A0JQ4J
Index: Prime All Share, Technologie All Share, CDAX
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade