Klöckner-Werke AG: Financial figures for 2009

Klöckner-Werke AG / Enterprise

19.03.2010 08:15

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Klöckner-Werke AG: Financial figures for 2009

Frankfurt am Main, March 19, 2010 - 2009 was an extremely difficult
financial year for the German machine-making industry as a whole, as well
as for the Klöckner Group.

Incoming orders were down by a total of 11% on what was already a weak
previous year. The situation was particularly difficult in the first half
of the year. From September, an initial trend reversal was observed
following the important 'drinktec' trade fair.

In view of the structure of our business and the size of most of the
orders, incoming orders often only become sales after a delay of some
months. Thus sales for 2009 also reflect the particularly critical order
situation at the end of 2008 and are down 29% year-on-year. Revenues amount
to a total of EUR 754 million, of which 90% is attributable to the Filling
and Packaging Technology segment and 10% to the Other Industrial Holdings
segment.

The number of orders decreased so dramatically in the immediate sector
environment that bitter price battles developed among the providers in
order to be win orders and retain customers over the years to come. More
and more contracts were concluded in the market where it no longer possible
to guarantee that costs were covered. Klöckner was unfortunately obliged to
face these challenges in order to avoid losing important customers for the
future.

Many of the measures introduced in the wake of the economic crisis to
reduce overheads already started paying off directly in 2009. However, more
far-reaching measures such as the restructuring of individual sites will
only exert a positive effect on income from 2010.

The year 2009 closed with losses due to the difficult economic situation.
The Group's adjusted EBIT in the financial year came to minus EUR105
million.

The financial statements for 2009 also contain non-recurring effects that
impact on net income. In addition to special effects from impairments
amounting to EUR70 million required as a result of impairment tests,
expenses for restructuring measures in the amount of EUR25 million were
incurred. The restructuring measures will enhance the Group's efficiency
and relieve the pressure on future results.

Taking into account the one-time effects, EBIT amounts to minus 200
million. After interest income and taxes, the consolidated result was minus
190 million after minus 36 million in the previous year.

The Group expects the order situation to improve further in the coming
months. However, until the relationship between prices obtained and running
costs normalises, EBIT will continue to be negatively impacted - albeit to
a lesser degree that in 2009.

In the coming years, the Management Board anticipates growing market
momentum for the technical equipment and machinery business. As the
industry figures demonstrate, the market for filling and packaging
machines, especially in the beverage sector, will grow steadily in the long
term.

The Management Board





About Klöckner-Werke AG
ISIN: DE0006780000/WKN: 678000, ISIN: DE000A0WMQY3/WKN : A0WMQY)

Klöckner-Werke AG is a Group holding company whose subsidiaries operate
globally in mechanical engineering and plant construction. In the 2009
financial year, the Group employed a workforce of approximately 6,000 and
achieved sales of EUR754 million. The main focus of our business operations
is on KHS AG, Dortmund.

For many years now, the company has been established as a world leader in
the provision of filling and packaging systems for both the beverages
industry and the food and non-food industry. Other Klöckner Group companies
produce machines and plants for plastic processing and shoe manufacture.
With a stake of over 95%, the majority shareholder of Klöckner-Werke AG is
Salzgitter Mannesmann GmbH. There is a so-called squeeze-out demand on the
part of the majority shareholder.


Contact:
Klöckner-Werke AG
Andrea Spiekermann
Media/Investor Relations
Telefon: +49 (0)69 90026-510
Fax: + 49 (0)69 90026-44-510
kommunikation@kloecknerwerke.com





19.03.2010 Ad hoc announcement, Financial News and Media Release
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Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Klöckner-Werke AG
              Postfach 17 04 55
              60078 Frankfurt am Main
              Deutschland
Internet:     www.kloecknerwerke.de
 
End of News                                     DGAP-Media
 
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