DGAP-News: systaic AG with significantly increased revenues and higher margin

27.10.2009
systaic AG / Quarter Results 27.10.2009 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. =-------------------------------------------------------------------------- * Market leader for solar integration solutions in buildings and vehicles presents preliminary interim results for first nine months 2009 * Revenue of EUR 193.1 million after first three quarters 50 % higher than previous year * EBIT at EUR 9.2 million, EBIT margin at 4.8 %, in 3rd quarter at 7.5 % * Growth target for the 2009 financial year confirmed According to preliminary calculations systaic AG, Düsseldorf, achieved a 50% increase in consolidated revenue in the first nine months of 2009 from EUR 128.7 million (9M 2008) to EUR 193.1 million. In the third quarter SYSTAIC posted revenue of EUR 72.2 million (+ 22 % compared to Q3 2008: EUR 59.0 million). This is the highest quarterly sales figure achieved since the company was founded. Consolidated earnings before interest and taxes (EBIT) in the first nine months of 2009 stood at EUR 9.2 million (9M 2008: EUR 6.2 million). At EUR 5.4 million, operating result generated in the third quarter of 2009 was thus higher than in the total first half of the year (H1 2009: EUR 3.8 million). For the third quarter of 2009 this resulted in a very satisfactory EBIT margin of 7.5 % (Q3 2008: 5.4 %). In the first nine months the EBIT margin stood at 4.8 % (9M 2008: 4.8 %). Consolidated total assets as of 30 September 2009 were in line with forecasts at EUR 177 million, representing a reduction of about 22 % since the end of 2008 (EUR 226 million). Equity as of 30 September 2009 stood at EUR 69.6 million. This compared with a figure of EUR 50.8 million on 31 December 2008, thus resulting in a sound equity ratio of 39 %. Since the end of 2008 net debt was reduced by a third to EUR 43.8 million. 'Our group is continuing to grow strongly,' explains Heiko Piossek, Chief Financial Officer of systaic AG. 'In the third quarter of this year we have succeeded in strengthening the operative margin compared to the previous year, because as a company positioned close to the customer we are benefiting from the decline in component prices and the general market development. And we will continue to demonstrate this in the next quarters,' states Piossek. 'In addition, systaic AG generates about 90 % of its revenue outside Germany. Even in the event of an adjustment of the German Renewable Energies Law this means we will be optimally equipped for the future.' On the strength of the existing project pipeline in the solar power plant sector the Executive Board of systaic AG confirms its growth targets for 2009. Consolidated revenue is expected to increase to more than EUR 300 million (previous year: EUR 199 million). The EBIT margin for full financial year 2009 is still seen at 7 %. Further figures and details for the first nine months and the third quarter of 2009, together with the guidance for the financial year 2010 will be published with the interim report as of 30 September 2009 on 9 November 2009 on the company's website www.systaic.com. About systaic AG: systaic AG specialises in efficient and aesthetically pleasing solar power solutions: the core product is the SYSTAIC energy roof for generating electricity and heat from solar energy on building rooftops. The SYSTAIC Automotive business area is worldwide the only series manufacturer of solar solutions for the roofs of different makes of car. The development and installation of photovoltaic power plants also implemented by its subsidiary Enerparc is a further focal point in its portfolio. systaic AG was founded in November 2004 and it has been listed on the Frankfurt Stock Exchange since March 2007. The company was admitted to the Prime Standard segment in September 2008. Group turnover increased more than six-fold to EUR 199 million in 2008. In the first half of 2009 the group revenue of SYSTAIC stood at EUR 121 million, a 74 % increase over the same period of the previous year. The company currently employs a workforce of over 200. Contact: systaic AG Achim Zolke Head of Corporate Communications Kasernenstraße 27 40213 Düsseldorf Germany Phone: 0049-211-828559-0 Fax: 0049-211-828559-258 a.zolke@systaic.com www.systaic.com 27.10.2009 Financial News transmitted by DGAP =-------------------------------------------------------------------------- Language: English Company: systaic AG Kasernenstr. 27 40213 Düsseldorf Deutschland Phone: +49 (0)211 828559-0 Fax: +49 (0)211 828559-29 E-mail: ir@systaic.com Internet: http://www.systaic.de ISIN: DE000A0JKYP6 WKN: A0JKYP Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Stuttgart End of News DGAP News-Service =--------------------------------------------------------------------------

systaic AG / Quarter Results 27.10.2009 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. =-------------------------------------------------------------------------- * Market leader for solar integration solutions in buildings and vehicles presents preliminary interim results for first nine months 2009 * Revenue of EUR 193.1 million after first three quarters 50 % higher than previous year * EBIT at EUR 9.2 million, EBIT margin at 4.8 %, in 3rd quarter at 7.5 % * Growth target for the 2009 financial year confirmed According to preliminary calculations systaic AG, Düsseldorf, achieved a 50% increase in consolidated revenue in the first nine months of 2009 from EUR 128.7 million (9M 2008) to EUR 193.1 million. In the third quarter SYSTAIC posted revenue of EUR 72.2 million (+ 22 % compared to Q3 2008: EUR 59.0 million). This is the highest quarterly sales figure achieved since the company was founded. Consolidated earnings before interest and taxes (EBIT) in the first nine months of 2009 stood at EUR 9.2 million (9M 2008: EUR 6.2 million). At EUR 5.4 million, operating result generated in the third quarter of 2009 was thus higher than in the total first half of the year (H1 2009: EUR 3.8 million). For the third quarter of 2009 this resulted in a very satisfactory EBIT margin of 7.5 % (Q3 2008: 5.4 %). In the first nine months the EBIT margin stood at 4.8 % (9M 2008: 4.8 %). Consolidated total assets as of 30 September 2009 were in line with forecasts at EUR 177 million, representing a reduction of about 22 % since the end of 2008 (EUR 226 million). Equity as of 30 September 2009 stood at EUR 69.6 million. This compared with a figure of EUR 50.8 million on 31 December 2008, thus resulting in a sound equity ratio of 39 %. Since the end of 2008 net debt was reduced by a third to EUR 43.8 million. 'Our group is continuing to grow strongly,' explains Heiko Piossek, Chief Financial Officer of systaic AG. 'In the third quarter of this year we have succeeded in strengthening the operative margin compared to the previous year, because as a company positioned close to the customer we are benefiting from the decline in component prices and the general market development. And we will continue to demonstrate this in the next quarters,' states Piossek. 'In addition, systaic AG generates about 90 % of its revenue outside Germany. Even in the event of an adjustment of the German Renewable Energies Law this means we will be optimally equipped for the future.' On the strength of the existing project pipeline in the solar power plant sector the Executive Board of systaic AG confirms its growth targets for 2009. Consolidated revenue is expected to increase to more than EUR 300 million (previous year: EUR 199 million). The EBIT margin for full financial year 2009 is still seen at 7 %. Further figures and details for the first nine months and the third quarter of 2009, together with the guidance for the financial year 2010 will be published with the interim report as of 30 September 2009 on 9 November 2009 on the company's website www.systaic.com. About systaic AG: systaic AG specialises in efficient and aesthetically pleasing solar power solutions: the core product is the SYSTAIC energy roof for generating electricity and heat from solar energy on building rooftops. The SYSTAIC Automotive business area is worldwide the only series manufacturer of solar solutions for the roofs of different makes of car. The development and installation of photovoltaic power plants also implemented by its subsidiary Enerparc is a further focal point in its portfolio. systaic AG was founded in November 2004 and it has been listed on the Frankfurt Stock Exchange since March 2007. The company was admitted to the Prime Standard segment in September 2008. Group turnover increased more than six-fold to EUR 199 million in 2008. In the first half of 2009 the group revenue of SYSTAIC stood at EUR 121 million, a 74 % increase over the same period of the previous year. The company currently employs a workforce of over 200. Contact: systaic AG Achim Zolke Head of Corporate Communications Kasernenstraße 27 40213 Düsseldorf Germany Phone: 0049-211-828559-0 Fax: 0049-211-828559-258 a.zolke@systaic.com www.systaic.com 27.10.2009 Financial News transmitted by DGAP =-------------------------------------------------------------------------- Language: English Company: systaic AG Kasernenstr. 27 40213 Düsseldorf Deutschland Phone: +49 (0)211 828559-0 Fax: +49 (0)211 828559-29 E-mail: ir@systaic.com Internet: http://www.systaic.de ISIN: DE000A0JKYP6 WKN: A0JKYP Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Stuttgart End of News DGAP News-Service =--------------------------------------------------------------------------

Copyright (c) 2007 Dow Jones & Company, Inc.

Zur Startseite