EANS-Adhoc: A-TEC Industries AG / First Quarter Report 2009

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quarterly report/Report First Quarter 2009

11.05.2009

Highlights: - Continued high order backlog at EUR 3.1 billion (bn)
(31 March 2008: EUR 2.6bn). - Group revenue down by 10.2% to EUR
691.6m. - Earnings before interest, tax, depreciation and
amortisation (EBITDA) slightly higher year on year at EUR 50.7m (Q1
2008: EUR 50.1m) due to lower material costs, particularly in the
Minerals & Metals Division. - Earnings before interest and tax (EBIT)
for the period EUR 38.7m (Q1 2008: EUR 38.3m); EBIT margin up from
5.0% to 5.6%. - Sharp increase in net finance costs reflecting gains
on disposal of the interests in copper companies Cumerio SA and
partly Norddeutsche Affinerie AG in the comparative last year´s
period, and exchange losses of EUR 4.6m in the Drive Technology
Division in Q1 2009. - Earnings before tax (EBT) 34.5% lower at EUR
21.8m (Q1 2008: EUR 33.3m). - Profit for the period EUR 14.3m (Q1
2008: 24.6m). - Operating cash flow turned positive to EUR 63.6m
compared to EUR -94.3m in Q1 2008. - Further reduction in net debt
from EUR 288.1m at year end to EUR 241.8m as at 31 March 2009. Net
gearing down to 73.9% (31 December 2008: 92.5%; 31 March 2008:
98.0%). - Management outlook for 2009 sees revenue unchanged at about
EUR 3bn, and EBIT margin at 3%.

Financial highlights (unaudited) Q1 2009 Q1 2008* % change
A-TEC Group
(EUR m)
Revenue 691.6 770.4 -10.2
EBITDA 50.7 50.1 1.2
EBIT 38.7 38.3 1.0
EBIT margin 5.6 % 5.0 %
EBT 21.8 33.3 -34.5
Profit for the period 14.3 24.6 -42.0

Order intake 426.6 757.5 -43.7
Order backlog (31 March) 3,099.6 2,611.7 18.7

Investment** 15.3 22.4 -31.7
Employees*** (31 March) 12,687 13,339 -4.9

* The comparative period was adjusted for the changes arising from
the adjustment of purchase price allocations and discontinued
operations. ** Investment comprises additions to property, plant and
equipment, and intangible assets *** Full-time employees including
apprentices

Outlook for 2009 The outlook for the global economy in 2009 is
shrouded in uncertainty. Management anticipates that global economic
growth will fall sharply in 2009, to a very low rate at best.

Order backlog in the Plant Construction Division should underpin good
capacity utilisation well into 2010. Stricter emission limits, the EU
Land-fill Directive and growing demand for alternative energy forms
lead us to expect a continuation of the division´s positive
performance in 2009. The division is targeting further revenue growth
despite order intake being significantly below last year´s level.

The Drive Technology Division expects to face an extremely testing
trading environment this year. For the Industrial Motors business
unit 2009 is likely to be another year of plunging demand for
industrial motors, and drives for domestic and garden appliances.
Project Motors is well on budget. Management anticipates a fall in
overall divisional revenue and a break-even EBIT performance.

In the Machine Tools Division, we see the adverse market situation
leading to significant declines in order intake in the EMCO Group,
and in turn to lower revenue. However Dörries Scharmann Technologie
(DST) has so far been virtually untouched by the fallout from the
recession, and management expects 2009 to be another successful year
for the group.

Copper prices have rebounded since the turn of the year, but swings
of up to USD 2,000 are expected in 2009 by the management of minerals
& metals division. A volatile US dollar is another likely feature of
this scenario. This points to a recovery in the division´s sales in
the second half of 2009, but revenue for the year is expected to be
well down on 2008 levels.

In the light of the overall trading environment and expectations for
the various divisions, the A-TEC Group anticipates revenue of around
EUR 3 billion for the 2009 financial year. The EBIT margin should be
about 3%. If the financial and economic crisis deepens in 2009 and
persists into 2010, in all probability additional restructuring will
be necessary, and the resultant expenses will affect earnings.

The detailed First Quarter Report 2009 can be downloaded from the
website under Investor Relations.

end of announcement euro adhoc
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ots Originaltext: A-TEC Industries AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Contact Investor Relations:

Gerald Wechselauer

Head of Investor Relations

Phone: +43 1 22760 - 130

Email: ir@a-tecindustries.com

Press Office A-TEC Industries AG

Claudia Müller-Stralz

Pleon Publico Public Relations & Lobbying

Phone: +43-1-71786-107

E-Mail: claudia.mueller@pleon-publico.at

Branche: Holding companies
ISIN: AT00000ATEC9
WKN:
Index: ATX Prime
Börsen: Wien / Regulated free trade