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.
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* 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
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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
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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
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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
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