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euro adhoc: A-TEC Industries AG / quarterly or semiannual financial statement / A-TEC INDUSTRIES unveils results for first quarter of 2007

Geschrieben am 15-05-2007


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Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
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14.05.2007

A-TEC INDUSTRIES unveils results for first quarter of 2007

Following record results for 2006, Vienna listed and based A-TEC
Industries AG (ISIN AT00000ATEC9) put in another positive
performance in the first quarter of 2007. The industrial group
returned marked year-on-year improvements in revenue, earnings
and order intake for the period. Meanwhile an agreement for the
full acquisition of a major manufacturer of semi-finished copper
products, Gindre Duchavany during the quarter marked another
milestone for A-TEC's strategy of complementary acquisitions.

Sharp improvements in revenue and earnings

First-quarter revenue climbed by 50.4% year on year to EUR 452.7
million (m). The underlying figure, excluding acquisitions,
progressed by about 28%, to EUR 386.5m, driven by the favourable
trading environment in A-TEC's core markets and high world
commodity prices.

The Plant Construction Division contributed 41 %, the Drive
Technologies Division 23%, the Mechanical Engineering Division 7%
and the Metal Industry Division 29% of consolidated revenue.

The strong revenue performance was accompanied by improvements in
key earnings indicators. Earnings before interest, tax,
depreciation and amortisation (EBITDA) almost doubled to EUR
22.3m (Q1 2006: 11.2m). Even with the acquisitions stripped
out EDBITDA growth was an impressive 73%, taking the adjusted
quarterly figure to EUR 19.3m. The Plant Construction and
Drive Technologies divisions were chiefly responsible for this sharp
rise.

Earnings before income and tax (EBIT) grew more than twofold to reach
EUR 13.3m (Q1 2006: EUR 6.4m), while like-for-like EBIT was up by
about 106% to EUR 13.2m.

Earnings before tax (EBT) also soared - by 147.3% to EUR 7.6m
(Q1 2006: EUR 3.1m). Profit for the period before minority interests
increased by 79.2% to EUR 4.1m, and earnings per share were EUR
0.60.

Record order intake and backlog

These highly satisfactory results reflected robust volume growth
across all the group's divisions - particularly Plant Construction.
The A-TEC Group registered a 54.1% year-on-year increase in order
intake to EUR 478.4m. As at 31 March 2007 order backlog was a
record EUR 1.7 billion (bn) - about 110% up on the previous
year's comparative figure of EUR 0.8bn. The surge in order
bookings will mean that the group continues to enjoy good revenue
visibility and strong capacity utilisation.

Strong showing from all four divisions

All A-TEC's four sub-groups - Austrian Energy & Environment,
ATB Austria Antriebstechnik, Montanwerke Brixlegg and EMCO -
contributed to the strong performance posted by the international
industrial group.

The Plant Construction Division (AE&E Group) was particularly quick
off the blocks at the start of the new financial year, picking
up major foreign contract wins that buoyed order intake to EUR
294.1m, compared to EUR 199.8m in the first quarter of 2006. The
division's order backlog as at 31 March 2007 was at an all-time high
of almost EUR 1.6bn. Revenue almost doubled year on year, advancing
by EUR 90.6m to EUR 187.1m.

Following last year's launch of restructuring and consolidation
programmes, and action to integrate new subsidiaries, the Drive
Technologies Division (ATB Group) likewise posted big increases in
order intake and backlog. Incoming orders jumped by about 86% to
EUR 128.1m (Q1 2006: 68.8m), while order books expanded to EUR
102.3m as of 31 March 2007 - more than twice as high as the
figure at the end of the like period of 2006. Further gains in
market shares boosted the division's consolidated revenue by 69.2%
to EUR 103.5m.

In the first quarter of 2007 the Mechanical Engineering Division
(EMCO Group) returned a 34.5% year-on-year increase in order
intake to EUR 56.2m. Order backlog was EUR 66.8m at the end of
the quarter, for a gain of some 63% on the comparative figure for
the previous year. Divisional revenue decreased by 5.1% to EUR
31.6m, mainly as a result of the strength of the euro and a shift
in customer demand towards high margin, low volume products.

During the quarter A-TEC succeeded in rounding out the product
portfolio of the Metal Industry Division by acquiring one of
Europe's leading manufacturers of copper semi-finished products,
and electrical parts and components, Gindre Duchavany, subject
to clearance by the competition authorities concerned.
Continued strong world copper demand and resultant escalating
prices, combined with increased volume raised the division's revenue
by 18.3% to EUR 130.4m.

Outlook

Management sees organic growth running at about 30%, meaning that
the A-TEC Industries Group is on course to set a new revenue record
of some EUR 2.1bn for the year as a whole (excluding any future
acquisitions). On the basis of its growth forecast the A-TEC
Management Board is targeting a further improvement in earnings,
and expects the EBIT margin for 2007 to come in between 5.0-5.5%.

A-TEC constantly monitors potential acquisition targets that are a
good match for existing operations and could contribute to growth.

Disclaimer

This announcement contains forward looking statements which are
subject to risks and uncertainties. These statements employ
expressions such as "believes", "is of the opinion that",
"assumes", "plans" and "anticipates", and reflect management's views
and expectations. These forward looking statements are made
subject to certain risks and uncertainties, which could cause
actual results to differ materially from those presented in these
forward looking statements. Readers are cautioned not to place undue
reliance on these forward looking statements. This announcement
should not be construed as legal, tax or investment advice.


end of announcement euro adhoc 15.05.2007 07:30:00
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ots Originaltext: A-TEC Industries AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Pressestelle A-TEC Industries AG
Mag. Claudia Müller-Stralz
Pleon Publico Public Relations & Lobbying
Tel: +43-1-71786-107
E-Mail: claudia.mueller@pleon-publico.at

Branche: Holding companies
ISIN: AT00000ATEC9
WKN:
Index: ATX Prime
Börsen: Wiener Börse AG / regulated dealing/prime standard


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