euro adhoc: Einhell Germany AG
Earnings Forecast
Earnings outlook 2008
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
6-month report
29.08.2008
"Ad hoc announcement in accordance with §15 WpHG"
Earnings outlook 2008
The Einhell Germany AG announces the following:
The first half of the financial year 2008 for the Einhell Group was marked by the difficult situation on the domestic market and in Western Europe.
In the first half-year 2008, the Einhell Group achieved revenues of EUR200.9 million, which represents a slight fall of EUR5.1 million or 2.5% in comparison with the previous year.
Earned profits from operations are amounting to EUR11.6 million (previous year EUR12.8 million). Thus pre-tax yield in the first half-year 2008 was 5.8% (previous year 6.2%).
Group net profit after minority interests in the first half of the financial year 2008 amounted to EUR7.8 million (previous year EUR8.8 million). Earnings per share are calculated at EUR2.1 per share (previous year EUR2.3 per share).
Therefore, despite a slight fall in revenues and profits, the Einhell Group demonstrates that its earning power is sound.
In light of the current situation, The Board of Directors expects that planned Group target revenues for 2008 of EUR400 - EUR420 million will not be met.
This is due mainly to the forecast revenue falls for compressors until 31 December 2008 of about EUR20 million. The EU has voted for a anti-dumping duty of max. 77 % for Chinese compressors.
Group revenues to 31 December 2008 will probably be at the same levels as the previous year and it is expected that there will be a pre-tax yield of 5 - 6 %.
Landau a. d. Isar, 29 August 2008
Einhell Germany AG The Board of Directors
end of announcement euro adhoc
Further inquiry note:
Melanie Köppl
Finanzbuchhaltung, Investor Relations
Telefon: +49 (0)9951-942 178
Fax: +49 (0)9951-942 293
E-Mail: melanie.koeppl@einhell.com
Branche: Wholesale
ISIN: DE0005654933
WKN: 565493
Index: 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