systaic AG / Key word(s): Quarter Results
30.11.2010 08:54
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systaic AG publishes interim report as of 30 September 2010
Today systaic AG, Düsseldorf, published its interim report for the first
nine months of 2010. SYSTAIC posted consolidated revenue of EUR 17,965
thousand in the first nine months (9M 2009: EUR 193,147 thousand). As a
result of systaic AG's restructuring and the associated split from the
parts of the company which do not belong to its core business mean that
revenues fell strongly compared to the same period of the previous year.
The income which SYSTAIC recorded in the third quarter is exclusively from
the Energy Roof Systems division, which has been known as 'SYSTAIC Energy
Roof Systems & Industrial Solutions' from 1 July 2010.
The SYSTAIC Group's income continued to be tense compared to the first half
of 2010: Earnings before interest, taxes, depreciation and amortisation
(EBITDA) were at EUR - 47,674 thousand as of 30 September 2010 (9M 2009:
EUR 11,425 thousand), the operating result (EBIT) stood at EUR -50,541
thousand (9M 2009: EUR 9,243 thousand). Earnings before taxes (EBT)
decreased to EUR -53,861 thousand (9M 2009: EUR 3,455 thousand). The
consolidated net loss after taxes as of 30 September 2010 amounted to EUR
-50,920 thousand (9M 2009: net income of EUR 2,470 thousand).
Cash flow from operating activities in the first nine months of 2010
amounted to EUR -6,883 thousand (9M 2009: EUR 14,588 thousand). This
decrease is mainly caused by the negative consolidated income as reported
after the first six months of this financial year.
The total assets as of 30 September 2010 were EUR 104,214 thousand (31
December 2009: EUR 178,299 thousand). The inventories decreased in the
first nine months by EUR 2,767 thousand to EUR 21,275 thousand. Trade
receivables decreased by more than a half to EUR 46,993 thousand (31
December 2009:
EUR 96,341 thousand). This was due to the incoming payment of an overdue
claim of a client (EUR 16,538 thousand), to subsequent discounts (EUR 6,450
thousand) and to valuation adjustments of claims from the sale of the
projects. Cash and cash equivalents amounted to EUR 3,038 thousand, whereof
EUR 2,365 thousand are restricted cash. They have decreased by EUR 5,463
thousand since 31 December 2009. On the liabilities side, equity decreased
by EUR 52,510 thousand to EUR 30,504 thousand in the first nine months of
2010. As a result, the interim report of SYSTAIC shows an equity ratio of
29.3% as of 30 September 2010.
Further figures and details for the first nine months and the third quarter
of 2010 will be published with the interim report as of 30 September 2010
on the company's website www.systaic.com.
Contact:
systaic AG
Corporate Communications
Benrather Straße 18-20
40213 Düsseldorf
Germany
Phone: 0049-211-828559-0
Fax: 0049-211-828559-229
presse@systaic.com
www.systaic.com
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Language: English
Company: systaic AG
Benrather Straße 18-20
40213 Düsseldorf
Deutschland
Phone: +49 (0)211 828559-0
Fax: +49 (0)211 828559-29
E-mail: ir@systaic.com
Internet: http://www.systaic.de
ISIN: DE000A0JKYP6
WKN: A0JKYP
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Düsseldorf, Berlin, Stuttgart
End of Announcement DGAP News-Service
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