After the first quarter of 2014, the Executive Board of R. STAHL AG decided to adjust the sales forecast for the current fiscal year. As delays in project business still weakened order intake in the fourth quarter of 2013, R. STAHL achieved sales revenues of about € 68 million in the first quarter of 2014, and thus below the own expectations. Despite a record order intake during the first three months, the group will not be able to completely balance the weak first quarter in the course of the year. Instead of growth in sales of 6% to 7%, the Executive Board currently expects growth between 3.5% and 6.8% for this year, or revenues amounting to € 315 million to € 325 million, respectively. The group’s international expansion programme led to higher fixed costs, which still restrict profitability until full capacity utilization will be achieved. Furthermore, there is the risk that exchange rate developments will slow down results. In regard to EBIT, we therefore currently anticipate results between € 24 million and € 26 million for 2014; an amount that will be on previous year’s level.
Based on the high order intake that amounts to about € 88 million in the first quarter of 2014, the Executive Board anticipates realization of the aspired increase in order intake and continuation of growth in the current fiscal year and beyond. That is why R. STAHL will implement the investments for capacity expansion, which have been planned for 2014, as scheduled.
R. STAHL AG
Am Bahnhof 30, 74638 Waldenburg (Württ.)
Bernd Marx (CFO)
Phone: +49 7942 943 1271
Nathalie Dirian (Investor Relations)
Phone: +49 7942 943 1395
E-Mail: [email protected]