EANS-Adhoc: Zumtobel AG / Financial Results for 2009/10 Lighting group sets course for future growth after crisis year

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annual report

28.06.2010

Dornbirn, 28 June 2010

Dornbirn / Austria - The 2009/2010 Financial Year for the Zumtobel
Group was shaped by the effects of the global economic crisis, but
the development of revenues stabilised gradually during the course
of the year. Revenues recorded by this Austrian lighting group,
which is based in Dornbirn / Vorarlberg, declined 4.8% to
EUR 1,117.3 million (2008/09: EUR 1,174.0 million) for the
reporting year (1 May 2009 to 30 April 2010).

In this economically difficult year, activities focused above
all on cost efficiency and the protection of liquidity. Operating
profit before special effects (adjusted EBIT) reached EUR 51.5
million (2008/09: EUR 78.9 million; - 34.7%). This represents an
EBIT margin of 4.6% (2008/09: 6.7%). Free cash flow was clearly
positive at EUR 39.2 million (2008/09: EUR 57.8 million),
whereby this development was supported by steady and efficient
inventory management as well as a reduction in investments.

EBIT amounted to EUR -45.2 million (2008/09: EUR 57.0
million) and was influenced by high negative special effects of EUR
-96.7 million in 2009/10. These special effects were related
primarily to impairment charges of EUR 68.3 million to goodwill
that reduced profit for the year but did not lead to cash
outflows, as well as exceptional restructuring costs. These
non-recurring negative effects were responsible for a loss of EUR
67.0 million for the reporting year.

The equity ratio equalled a satisfactory 35.8% as of 30 April
2010 despite massive non-recurring effects, above all from
impairment charges to goodwill. Net financial liabilities were cut
by one-fourth in year-on-year comparison to EUR 121.9 million.

Following the waiver of a dividend for the 2008/09 Financial
Year, the Management Board and Supervisory Board will recommend that
the Annual General Meeting on 23 July 2010 approve the distribution
of a moderate 0.15 cent per share dividend for the reporting
year.

The late cyclical nature of the Group´s business as well as
the negative effects of the growing sovereign debt in several
European countries on the current modest upturn make it
difficult for the Management Board of the Zumtobel Group to
estimate whether or when the business will begin a
sustainable recovery. However, the positive signals for the coming
months are increasing - above all for the components business.
The Management Board consequently views the 2010/11 financial year
with cautious optimism despite the limited visibility, and is
forecasting an improvement in revenues and earnings for the
Group as a whole. The long-term outlook for the Zumtobel Group
remains positive. This optimism is supported by the expected
continued dynamic expansion of LED-based products and the steady
demand for energy-efficient lighting systems.

end of announcement euro adhoc
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ots Originaltext: SEG Immo AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Pressekontakt Kontakt Investor Relations

Astrid Kühn-Ulrich Harald Albrecht

Head of Corp. Communications Head of Investor Relations

Tel. +43-(0)5572 509-1570 Tel. +43-(0)5572 509-1125

astrid.kuehn@zumtobel.com harald.albrecht@zumtobel.com

Branche: Technology
ISIN: AT0000837307
WKN:
Index: WBI, ATX Prime, ATX
Börsen: Wien / official market