Softing AG / Quarter Results
10.11.2009
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
---------------------------------------------------------------------------
The Softing Group today announced that it generated positive EBIT in the
third quarter, despite the fact that the global market in which Softing
operates as a provider of hardware and software for industrial automation
and automotive electronics remains difficult. Industry associations in both
the manufacturing and automotive sectors, which have been hit hardest by
the global economic crisis, are expecting a 30 to 40 percent decline in
orders and sales for 2009.
Activity has picked up again in the sector since the middle of the year,
and Softing's incoming orders have risen steadily as well, although it will
take some time for them to recover from the low level to which they fell.
The incoming orders of the Softing Group totaled EUR 6.7 million in the
third quarter (2008: EUR 8.6 million) and EUR 17.5 million in the first
nine months of 2009 (2008: EUR 25.5 million). Softing posted sales of
EUR 5.8 million in the third quarter (2008: EUR 8.7 million), which brought
total sales for the first nine months of the year to
EUR 17.2 million (2008: EUR 24.7 million).
The operating result was EUR 0.03 million in the third quarter (2008:
EUR 1.0 million) and EUR -1.5 million in the first nine months of the
current financial year (2008: EUR 2.4 million). This figure includes an
extraordinary item of approximately EUR 0.5 million resulting from the
layoff of personnel in the Automotive Electronics division in the first
quarter. The net profit for the third quarter amounted to EUR 0.1 million
(2008: EUR 0.7 million). Softing thus posted a net loss of EUR 1.1 million
for the first nine months of the year (2008: net profit of
EUR 1.7 million).
The Executive Board of Softing expects this positive trend to continue so
that the Group will end the fourth quarter with positive EBIT as well.
However, the Executive Board does not expect this to be enough for it to
report a profit for the full 2009 financial year.
Equity as of the end of the first nine months of 2009 was
EUR 14.3 million. This translates to EUR 2.54 per Softing share compared to
the current share price of approximately EUR 2.10. The cash position per
share was EUR 0.57. The Quarterly Report 3/2009 can be downloaded in PDF
format from the investor relations section at www.softing.com from November
10, 2009.
About Softing:
Softing is a global provider of hardware and software for industrial
automation and automotive electronics. The company develops high-quality
standard technology products in close cooperation with its customers.
The Industrial Automation division has established itself as a specialist
provider of fieldbus technology and as a competent partner for the
networking of automation systems. Softing develops solutions for its
customers to connect and diagnose devices, controls and systems involved in
the exchange of data.
The powerful tools and solutions offered by its Automotive Electronics
division have made Softing a systems partner to automobile manufacturers as
well as systems and control unit suppliers. Softing specializes in vehicle
communication, diagnostics and test systems.
Content:
Dr. Wolfgang Trier
Phone.: +49(0)89 45656 0
Email: InvestorRelations@softing.com
Technical realisation:
Phone: +49(0)89 45656 311
Email: koe@softing.com
10.11.2009 Financial News distributed by DGAP. Medienarchiv at |[![CDATA[|[a href="http://www.dgap-medientreff.de"|]www.dgap-medientreff.de|[/a|]]]|] and |[![CDATA[|[a href="http://www.dgap.de"|]www.dgap.de|[/a|]]]|]
---------------------------------------------------------------------------
Language: English
Company: Softing AG
Richard-Reitzner-Allee 6
85540 Haar
Deutschland
Phone: +49 (0)89 456 56-333
Fax: +49 (0)89 456 56-399
E-mail: InvestorRelations@softing.com
Internet: www.softing.com
ISIN: DE0005178008
WKN: 517800
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Düsseldorf, Stuttgart, Hamburg
End of News DGAP News-Service
---------------------------------------------------------------------------
DGAP-Adhoc: Softing AG: Successful turnaround: Softing back in the black in third quarter
| Source: EQS Group AG