Schefenacker ha pubblicato i risultati del 3 trimestre
Financials
• Compared to the 3rd quarter 2005 sales development varies along the product lines.
− Lighting systems sales decreased to €40.1 million in the 3rd quarter 2006 from €45.5 million in 2005
− Sales of the Vision Systems segment increased to €156.4 million in the 3rd quarter 2006 after €152.4 million in the prior year
− Audio Systems sales fell from €6.0 million to €4.8 million in the 3rd quarter 2006
− Sales of tools and other products increased by €7.2 million to €26.6 million in the 3rd quarter 2006
− Total sales increased by €4.6 million, or 2.1% compared to the 3rd quarter of 2005, to €227.9 million, excluding exchange rate effects, sales would have increased by 3.5%
• Total cash outflow from operating activities in the 3rd quarter 2006 was €9.3 million.
• EBITDA decreased to €(2.8) million in the 3rd quarter 2006 compared to €15.8 million in the same period in 2005.
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Adjusted EBITDA decreased from €17.9 million in the 3rd quarter 2005 to €0.3 million in the 3rd quarter 2006.
• Net debt stands at €394.2 million.
• Beginning November 2006 the first phase of the new restructuring has been implemented. Various operating subsidiaries of the group have been transferred to a new german sub holding company. In addition, the transfer of this new german subholding company to Schefenacker Management UK Ltd. has been agreed. As a result, Schefenacker Management UK Ltd, which is directly owned by Schefenacker AG, will become a sub holding company for a substantial part of the group. These changes were made following discussions with the major customers and bank creditors of the group.