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

R. Stahl AG  / Key word(s): Half Year Results07.08.2014 09:01Dissemination of an Ad hoc announcement according to § 15 WpHG, transmittedby DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.---------------------------------------------------------------------------R. STAHL publishes results for first half-year of 2014 and adjusts EBITforecast for 2014Waldenburg, August 7, 2014. R. STAHL AG made good use of the positivedynamics within its customer industries in the second quarter to strengthenits market position. The Company reported a 6.9% increase in order intaketoEUR 169.0 million (previous year: EUR 158.2 million) and reached a newall-time high for order intake. The Company benefited above all from thestrong demand by customers in the oil and gas industry as well as thechemical sector.Due to the delay between order intake and sales realization, the positivedevelopment of orders is not yet reflected in the sales figures. In thefirst half-year R. STAHL generated sales of EUR 146.5 million (previousyear: EUR 148.3 million). The slight decline compared to the previous yearwas due to the slow first quarter as well as to currency translationsrelated 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% (previousyear: 7.9%). The development of income and profitability thus remainedbelow expectations. This was due primarily to extraordinary expensesrelated to the takeover attempt by Weidmüller. These special circumstancestied up the capacities of management and employees and precipitated theneed for intensive talks with concerned customers. The takeover situationalso led to additional costs for defensive measures and consultingservices. In addition, projects aimed at increasing efficiency could not becarried out or launched as planned in the second quarter. The marketintroduction of the new LED lighting programme had to be postponed sincethe market's attention was focused primarily on the takeover attempt. Salesgenerated by the lighting business suffered as a consequence, and thisinfluences results for the second quarter; it will also have an impact inthe third quarter 2014. On an annual basis the direct and indirect costsresulting from these special circumstances amount to a total ofapproximately EUR 5 million. AroundEUR 3 million were incurred in the second quarter alone. When adjusted forthese special expenses the EBIT comes to EUR 8.6 million.In the third quarter, R. STAHL will vigorously continue and initiate thegrowth and efficiency initiatives which were originally planned for thesecond quarter. However, the Executive Board does not believe that it willbe possible to completely compensate for the delays in the second half orthe year. In addition, the results for the third quarter will also beaffected by the indirect costs of the takeover situation.Against this backdrop the Executive Board is revising the forecast forearnings before interest and taxes (EBIT) for 2014 from originally EUR 24to 26 million to EUR 18 to 22 million. The forecast for order intake andsales in 2014 remains unchanged after the positive development of the firsthalf year. R. STAHL is targeting order intake valued at between EUR 325 and335 euros and sales of between EUR 315 and 325 million for the currentfinancial year. The mid-term guidance until the end of fiscal year 2016remains unchanged.---------------------------------------------------------------------------Information and Explaination of the Issuer to this News:Contact:R. STAHL AGAm Bahnhof 30, 74638 Waldenburg (Württ. )Bernd Marx (CFO)Phone: +49 7942 943-1271Nathalie Dirian (Investor Relations)Phone: +49 7942 943-1395e-mail: [email protected] The DGAP Distribution Services include Regulatory Announcements,Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de--------------------------------------------------------------------------- Language:     EnglishCompany:      R. Stahl AG              Am Bahnhof 30              74638 Waldenburg              GermanyPhone:        +49 (7942) 943-0Fax:          +49 (7942) 943-4333E-mail:       [email protected]:     www.stahl.deISIN:         DE000A1PHBB5WKN:          A1PHBBListed:       Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;              Freiverkehr in Berlin, Düsseldorf, Hamburg, München End of Announcement                             DGAP News-Service ---------------------------------------------------------------------------