R. STAHL publishes results for first half-year of 2014 and adjusts EBIT forecast for 2014

R. STAHL publishes results for first half-year of 2014 and adjusts EBIT forecast for 2014 Waldenburg,

R. Stahl AG / Key word(s): Half Year Results


07.08.2014 09:01


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R. STAHL publishes results for first half-year of 2014 and adjusts EBIT

forecast for 2014


Waldenburg, August 7, 2014. R. STAHL AG made good use of the positive

dynamics within its customer industries in the second quarter to strengthen

its market position. The Company reported a 6.9% increase in order intake


EUR 169.0 million (previous year: EUR 158.2 million) and reached a new

all-time high for order intake. The Company benefited above all from the

strong demand by customers in the oil and gas industry as well as the

chemical sector.


Due to the delay between order intake and sales realization, the positive

development of orders is not yet reflected in the sales figures. In the

first half-year R. STAHL generated sales of EUR 146.5 million (previous

year: EUR 148.3 million). The slight decline compared to the previous year

was due to the slow first quarter as well as to currency translations

related to the strong euro.


Earnings before interest and taxes (EBIT) amounted to EUR 5.6 million

(previous year: EUR 11.8 million) with an EBIT margin of 3.8% (previous

year: 7.9%). The development of income and profitability thus remained

below expectations. This was due primarily to extraordinary expenses

related to the takeover attempt by Weidmüller. These special circumstances

tied up the capacities of management and employees and precipitated the

need for intensive talks with concerned customers. The takeover situation

also led to additional costs for defensive measures and consulting

services. In addition, projects aimed at increasing efficiency could not be

carried out or launched as planned in the second quarter. The market

introduction of the new LED lighting programme had to be postponed since

the market's attention was focused primarily on the takeover attempt. Sales

generated by the lighting business suffered as a consequence, and this

influences results for the second quarter; it will also have an impact in

the third quarter 2014. On an annual basis the direct and indirect costs

resulting from these special circumstances amount to a total of

approximately EUR 5 million. Around

EUR 3 million were incurred in the second quarter alone. When adjusted for

these special expenses the EBIT comes to EUR 8.6 million.


In the third quarter, R. STAHL will vigorously continue and initiate the

growth and efficiency initiatives which were originally planned for the

second quarter. However, the Executive Board does not believe that it will

be possible to completely compensate for the delays in the second half or

the year. In addition, the results for the third quarter will also be

affected by the indirect costs of the takeover situation.


Against this backdrop the Executive Board is revising the forecast for

earnings before interest and taxes (EBIT) for 2014 from originally EUR 24

to 26 million to EUR 18 to 22 million. The forecast for order intake and

sales in 2014 remains unchanged after the positive development of the first

half year. R. STAHL is targeting order intake valued at between EUR 325 and

335 euros and sales of between EUR 315 and 325 million for the current

financial year. The mid-term guidance until the end of fiscal year 2016

remains unchanged.





Information and Explaination of the Issuer to this News:




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]


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Language: English

Company: R. Stahl AG

Am Bahnhof 30

74638 Waldenburg


Phone: +49 (7942) 943-0

Fax: +49 (7942) 943-4333

E-mail: [email protected]

Internet: www.stahl.de



Listed: Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;

Freiverkehr in Berlin, Düsseldorf, Hamburg, München


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