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Ad hoc: VOGT electronic AG: VOGT reports 3rd Quarter Results 2008 |
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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.
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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,
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Berlin,
Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg, General
Standard in Frankfurter Wertpapierbörse; Copyright © Hugin AS 2008. All rights reserved.
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