| Bertrandt at steady level |
| Monday, 16 February 2009 09:32 | ||||||||||||||||||||||||||||||
Solid revenues and earnings in the first quarter of fiscal 2008/2009
Demanding market conditions “The carmakers are working hard on new solutions to meet legislation and their buyers’ call for individual vehicle concepts,” says Management Board chairman Dietmar Bichler. “With modern technologies the manufacturers want to respond to the mounting demand for more safety, comfort as well as environmentally-friendly mobility despite sharp slumps in sales,” Bertrandt’s CEO adds. Partners like Bertrandt can support the manufacturers and system suppliers with all-in development solutions in meeting these challenges. The market drivers are mostly intact. This is also reflected in the German automotive industry’s high level of spending on research and development. Although Bertrandt put on a solid performance in the first quarter of the current financial year, the Company is feeling the fallout from its customers’ production cutbacks and temporary postponement of projects. “Combined with strict cost management, we also reserve the option, following the measures taken by our customers, to manage capacity effectively and at short notice,” Bichler adds. Revenues in the first three months of the current fiscal year were thus increased to EUR 112.2 million (previous year EUR 96.0 million). EBIT rose slightly to EUR 11.1 million, up from EUR 10.4 million in the previous year. Performance in terms of earnings after income taxes was, with a year-on-year increase from EUR 7.3 million to EUR 8.2 million, also satisfactory. Capital expenditure was up by EUR 3.7 million to EUR 9.1 million. One reason for this is the acquisition on 18 December 2008 of a stake in Aeroconseil S. A. The aim with this five-percent equity holding is to further expand the close partnership of the two companies via their Bertrandt Aeroconseil GmbH joint venture. Personnel and cost management
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