Distribution of company announcements to the professional platforms, finance portals and syndication of important corporate news to a wide variety of news aggregators and financial news systems.
VOGT electronic AG / Quarterly report / Ad hoc: VOGT reports 3rd Quarter Results 2008 Ad hoc announcement according to §15 WpHG processed and transmitted by Hugin. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- --------------
Obernzell, October 28th, 2008
3rd Quarter The business of VOGT electronic Group developed dissatisfying during the 3rd quarter of the current financial year. Adjusted sales of the Group decreased by 8,1% to 35.0 Mio. EUR (previous year: 38.1 Mio. EUR) and was thus below expectations. Reason for this drop down were the declining sales in the automotive and consumer electronics business. The adjusted EBIT amounted to 1.9 Mio. EUR (previous year: 2.0 Mio. EUR) and was mainly impacted by decreasing sales.
Nine months period During the first nine months of the current financial year the VOGT electronic Group could achieve a turnover of 112.9 Mio. EUR (previous year: 136.1 Mio. EUR). The decline of 17.0% versus previous year is mainly resulting from the deconsolidation of VOGT electronic Letron GmbH and the modified subcontracting process. Without taking into account the mentioned sales of previous year and adjusted for exchange rate effects in 2008 sales declined by 3.0% versus previous year. Whereas the automotive electronic segment could increase sales by 6.0% to 68.9 Mio. EUR (previous year: 65.0 Mio. EUR), sales in the consumer electronic segment reduced by 20.1% to 30.6 Mio. EUR (previous year: 38.3 Mio. EUR), which is mainly a result of the strong price decreases in the telecommunication business sector. Despite the decrease in sales by 1.4 Mio EUR the EBIT adjusted by special items could be increased to 6.3 Mio EUR compared to previous year. (previous year: 4.9 Mio EUR), where particularly the restructuring measures initiated in 2007 had a positive impact. The adjusted EBIT quote rose to 5.6% (previous year: 3.6%). The result of the Group improved considerably from -6.6 Mio. EUR in 2007 to 3.3 Mio. EUR in 2008.
Outlook 4th Quarter Due to lacking impulses of incoming orders VOGT expects a clear decline of sales revenue during the 4th quarter. Background is the ongoing crisis of the financial markets and its impact on the automotive industry. The VOGT electronic Group generates ca. 60% of its turnover with customers of the automotive supplier industry. Due to the decline of sales the company expects a decreasing adjusted EBIT in 4th quarter in 2008.
For further information please refer to the report of 3rd quarter results 2008 which will be published on our homepage on October 28th, 2008 (www.vogt-electronic.com).
The Management Board
For any further information please contact: VOGT electronic AG Annette Stiefler VOGT electronic Platz 1 D-94130 Obernzell Tel.: 08591 / 937 121 Fax: 08591 / 937 103 Mail: ir@vogt-electronic.com
Important notice, this Ad-hoc release contains forward looking statements, that are based on assumptions and estimates of the Executive Board of VOGT electronic AG. Even if the Management Board considers that these assumptions and estimates are accurate, future developments and future results may differ significantly from these assumptions and estimates due to many factors. VOGT electronic AG makes no warranty and no guarantee that the future development and future results will be in line with the assumptions and estimates expressed in this Ad-hoc release.
--- End of Message ---
VOGT electronic AG VOGT electronic Platz 1 Obernzell Germany
WKN: 765933; ISIN: DE0007659336; Index: CDAX; Listed: Amtlicher Markt in Frankfurter Wertpapierbörse, Freiverkehr in Börse Stuttgart, Amtlicher Markt in Bayerische Börse München, Freiverkehr in Börse Berlin, Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg, General Standard in Frankfurter Wertpapierbörse;
