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23.02.2011 - Ad hoc announcement pursuant to Art. 53 LR

Roth & Rau announces preliminary consolidated results for the 2010 financial year

 

Roth & Rau AG / Key word(s): Preliminary Results23.02.2011 14:46Dissemination of an Ad hoc announcement according to § 15 WpHG, transmittedby DGAP - a company of EquityStory AG.The issuer is solely responsible for the content of this announcement.---------------------------------------------------------------------------Roth & Rau announces preliminary consolidated results for the 2010financial year- Sales growth of 35.9 % to EUR 268.9 million - EBIT of EUR -25.9 million after special itemsHohenstein-Ernstthal, 23 February 2011 - Based on preliminary figures, theRoth & Rau Group generated sales of EUR 268.9 million in the past 2010financial year. This corresponds to growth of 35.9 % on the previous year'sfigure of EUR 197.9 million.The Group's earnings performance in the past year was affected by specialitems of around EUR -51.2 million (of which EUR 42.9 million under EBIT andEUR 8.3 million under net financial expenses). As a result, preliminaryearnings before interest and taxes (EBIT) amounted to EUR -25.9 million inthe 2010 financial year (previous year: EUR 16.1 million).The special items related to impairment losses of around EUR 8.5 millionalready recognised for turnkey projects as of 30 September 2010 and ofaround EUR 12.5 million (of which EUR 4.2 million under EBIT and EUR 8.3million under net financial expenses) due to the risk of insolvency at theUS customer SpectraWatt. Both developments were already announced as soonas they arose. Moreover, the Group has also recognised further impairmentlosses of EUR 11.0 million in connection with existing turnkey projects andprovisions of EUR 9.6 million for legal and tax risks relating to majorprojects still underway. Furthermore, as part of a new strategic alignmentthat, among other aspects, involves streamlining the Group's productportfolio, the Management Board has discontinued activities in specificproduct groups and thus also in related development projects. This made itnecessary to recognise further, one-off impairment losses of around EUR 3.1million.One major one-off item of EUR 6.5 million also resulted from the necessaryconversion of the accounting treatment of SiNA series single equipment fromthe percentage of completion method to measurement at cost, which willinvolve the respective profit being deferred to the 2011 financial year.Further preliminary key figures for the past financial year and informationabout the Group's new strategic alignment can be found in the press releasealso published today. The Annual Report will be published on 31 March 2011.Contact:Roth & Rau AGProf. Dr. Silvia Roth Tel.: +49 (0) 3723/6685-333E-Mail: investor@roth-rau.de Haubrok Investor Relations GmbHSimone CujaiTel.: +49 (0) 211/17183537E-Mail: s.cujai@haubrok.de23.02.2011 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.Media archive at www.dgap-medientreff.de and www.dgap.de--------------------------------------------------------------------------- Language: EnglishCompany: Roth & Rau AG An der Baumschule 6-8 09337 Hohenstein-Ernstthal DeutschlandPhone: 03723 6685-0Fax: 03723 6685-100E-mail: info@roth-rau.deInternet: www.roth-rau.deISIN: DE000A0JCZ51WKN: A0JCZ5Indices: TecDAXListed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart End of Announcement DGAP News-Service ---------------------------------------------------------------------------