Schaltbau increases Group net profit for 2008 by 60 per cent
Dividend to be raised to 50 cents per share
According to preliminary figures, earnings from operating activities (EBIT) improved on last year's result of EUR 14.1 million to total EUR 21.9 million. Preliminary Group net profit increased from EUR 8.2 million in 2007 to EUR 13.1 million. Profit attributable to shareholders of Schaltbau Holding AG thus amounts to EUR 11.8 million after achieving EUR 7.2 million one year earlier. Diluted earnings per share thus slightly exceeded forecasts and now stand at EUR 6.35 (previous year: EUR 3.85). Net bank liabilities were reduced to EUR 37.7 million (previous year: EUR 41.4 million).
Due to the further improvement in the Group earnings situation, the Executive Board will put forward a proposal for the appropriation of profit to the Supervisory Board to raise the dividend to 50 cents per share (previous year: 30 cents).
Despite the increased uncertainties the Executive Board expects to largely maintain its levels of order intake and sales revenue at the previous year's volume of approximately EUR 280 million respectively for the fiscal year 2009. On the basis of business performance to date, Group management abides by the earnings forecast made in October 2008, which announced earnings per share in the region of EUR 6.20.