TA Triumph-Adler GmbH

EANS-News: TA Triumph-Adler group carries out action plan and aims at sales growth and neutral result for its 2010/2011 financial year

TA Triumph-Adler AG reports 2009 Revenue Decline, Loss Due to Weak Demand

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Financial Figures/Balance Sheet

Subtitle: TA Triumph-Adler AG reports 2009 Revenue Decline, Loss Due to Weak Demand

Nürnberg (euro adhoc) - TA Triumph-Adler AG generated consolidated revenue of more than EUR287.5 million in the 2009 financial year, 19.7 % less than in the 2008 financial year. This can be derived from the consolidated financial statements published today. Essentially, the decline is attributable to extremely weak demand due to the crisis. Demand failed to stabilize, at a low level, until the second half of the year. Due to the shortfall in revenue, a pre-tax loss of EUR14.4 million was generated; in the previous year, the Group achieved a pre-tax profit of EUR7.3 million. The Group net result for the year amounted to a negative amount of EUR13.7 million, or negative earnings per share of EUR0.25. The Group´s business model, however, is stable. In the fourth quarter of 2009 the specialist for efficiency in the document business for the first time again shipped more machines than in the comparable quarters, 22.5 % more than in the third quarter of 2009, and 2.1 % more than in the fourth quarter of 2008. At the end of April 2009, TA Triumph-Adler AG fully redeemed the syndicated loan entered into in summer 2007. The funds required for this were sourced from loans provided by the Kyocera Mita Group. As a consequence, there were hardly any bank borrowings left as of December 31, 2009. The consolidated deficit of EUR13.7 million for the 2009 financial year, however, raised the balance sheet loss from EUR161.9 million to EUR175.7 million. The consolidated equity of the TA Triumph-Adler Group consequently amounted to minus EUR87.0 million as of December 31, 2009 following minus EUR73.3 million as of the previous year's balance sheet date. Equity at TA Triumph-Adler AG as the legally relevant parent company totaled EUR63.3 million as of December 31, 2009 (prior-year balance sheet date: EUR97.4 million). The equity ratio amounted to 21.7 % as of the 2009 year-end (previous year: 29.9 %). Cash and cash equivalents of EUR21 million were held as of the balance sheet date. For the next complete financial year, starting April 1, 2010, the group plans to accomplish a comprehensive action plan dedicated to further improving sales, solutions and services. TA Triumph-Adler aims to yield revenues of EUR320 million and a neutral result. For the 2011/2012 financial year, revenue is expected to increase to EUR330 million to EUR350 million, and earnings growth based on a pre-tax return on revenue of around 2 %. At the end of November 2009, Kyocera Mita Corporation notified the company that it wished to convene an Extraordinary General Meeting to pass a resolution concerning the transfer to it, as the main shareholder, of minority shareholders' shares in exchange for an appropriate cash settlement pursuant to §§ 327a ff. of the German Stock Corporation Act (AktG) (a so-called squeeze-out). With a letter dated March 4, 2010, Kyocera Mita Corporation set the cash settlement price at EUR1.90 per share. The Extraordinary General Meeting that will adopt the respective resolution has been convened for April 20, 2010.

end of announcement                               euro adhoc
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Further inquiry note:

Dr. Joachim Fleing
IR-Beauftragter
Telefon: +49 911 68 98 499
E-Mail: ir@ta.ag

Branche: Semiconductors & active components
ISIN: DE0007495004
WKN: 749500
Index: CDAX, Classic All Share, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / free trade
Original-Content von: TA Triumph-Adler GmbH, übermittelt durch news aktuell

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