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27.05.2010 – 08:01

Rosenbauer International AG

EANS-Interim Report: Rosenbauer International AG

  Intermediate report of the management transmitted by euro adhoc. The issuer
  is responsible for the content of this announcement.

Revenues and EBIT up once again in the 1st quarter 2010; Order intake with EUR 116.4 Mio (+13%) still at high level; New record revenue and earnings figures forecast for 2010

GROUP KEY DATA                         |       |1-3/2010  |1-3/2009  |in %
Revenue                                |EUR Mio|114.2     |99.7      |+ 15%
EBIT                                   |EUR Mio|8.1       |3.0       |+ 170%
EBT                                    |EUR Mio|5.9       |0.8       |+ 638%
Consolidated profit                    |EUR Mio|4.6       |0.6       |+ 667%
Cash Flow from operating activities    |EUR Mio|(37.1)    |(41.0)    |+ 10%
Total assets                           |EUR Mio|353.5     |316.6     |+ 12%
Equity in % of total assets            |EUR Mio|28.7%     |28.8%     |0%
Investments                            |EUR Mio|2.0       |2.5       |(20%)
Earnings per share                     |EUR    |0.4       |(0.2)     |-
Employees as at March 31               |       |1,987     |1,817     | + 9%
Order intake                           |EUR Mio|116.4     |103.2     |+ 13%
Order backlog                          |EUR Mio|500.0     |493.3     |+ 1%

The consequences of the global economic crisis are now finally working through
to the fire-equipment sector, albeit more noticeably in some regions than
others. In the USA and in parts of Europe such as Eastern Europe and Spain,
demand for fire engineering equipment is down sharply. In the USA - the
industry´s biggest single sales market - 2009 saw demand shriveling by 30% to
around 3,900 fire fighting vehicles. Market dynamics continue to vary widely
from one region to another, as fire-service financing is very much tied to the
local political situation.

The situation for international project business - especially in Asia and the
Arab world - showed no signs of slowing down significantly in the 1st quarter of
2010. Especially in emerging markets, there continues to be great demand for
modernizing and upgrading fire protection equipment.

The Rosenbauer Group boosted its shipment volumes again in the first quarter of
2010, lifting its revenues by 15% to EUR 114.2 Mio (1-3/2009: EUR 99.7 Mio).
Theprime driver of revenue growth was Rosenbauer International AG, where
capacity utilization was exceptionally strong in the 1st quarter due to the high
volume of orders on hand. The even larger volume of orders to be fulfilled in
2010 also led to increased output, which was reflected in the higher figure, of
EUR 16.1 Mio, for inventory changes (1-3/2009: EUR 14.6 Mio).

EBIT climbed 170% in the 1st quarter of 2010, reaching EUR 8.1 Mio (1-3/2009:
EUR 3.0 Mio). As well as to larger volumes, this increase is also due to the
higher gross margins earned on several export orders of Rosenbauer International
AG, leading to an above-averagely high 1st-quarter EBIT margin of 7.1%
(1-3/2009: 3.0%).

In the fire-equipment sector, the 1st quarter is generally typified by lower
revenues and margins. This is due to the fact that the majority of shipments
tend to be in the second half of the year. However, this seasonal dependency
during the fiscal year is often smoothed by centrally directed procurement that
does not fall under public-sector revenue and expenditure budgets.

Despite the increased transaction volume, financial expenditure decreased
compared to the corresponding period of the previous year, to EUR -2.4 Mio
(1-3/2009: EUR -2.7 Mio), mainly due to lower interest rates. Including
financial income of EUR 0.3 Mio (1-3/2009: EUR 0.5 Mio), EBT in the first
quarter of 2010 came to EUR 5.9 Mio (1-3/2009: EUR 0.8 Mio).

The Group´s order intake in the 1st quarter of 2010 climbed to EUR 116.4 Mio
(1-3/2009: EUR 103.2 Mio), 13% above the figure for the same period of last
year. At EUR 500.0 Mio (March 31, 2009: EUR 493.3 Mio) the reserve of unfilled
orders at March 31, 2010 is at a record level, thanks to the still-buoyant order
trend in recent months. This means that the Rosenbauer Group can be sure of good
capacity utilization at its manufacturing facilities, and also gives it a fairly
clear view of the likely course of revenues for the rest of this year. 

OUTLOOK The signs are pointing to an increasing slow-down in demand, with certain regions likely to experience stronger fluctuations than others. Just how serious this will turn out to be is difficult to predict. To make sure that Rosenbauer stays firmly on its growth track, all projects and bid invitations to which it has access will be processed very thoroughly and intensively. With its worldwide distribution network, Rosenbauer is ideally equipped to meet this challenge. Moreover, its production facilities are now so flexible that they can be geared to meet the different needs of different markets.

The high volume of orders on hand at the end of the 1st quarter of 2010 means that full utilization of production capacity can be foreseen for some time to come. Management is thus confident of another record year, with a further increase in the Group´s revenues and operating result.

end of announcement                               euro adhoc

Further inquiry note:

Branche: Machine Manufacturing
ISIN: AT0000922554
WKN: 892502
Index: WBI, ATX Prime
Börsen: Berlin / free trade
Stuttgart / free trade
Wien / official market

Original content of: Rosenbauer International AG, transmitted by news aktuell