Ad hoc: Funkwerk AG: Funkwerk expects dynamic growth in the second half of 2007

8/14/2007, 7:30 AM (Source: GlobeNewswire)
Funkwerk AG / Interim report / Funkwerk expects dynamic growth in the second half of 2007 Ad hoc announcement according to §15 WpHG processed and transmitted by Hugin ASA. The issuer is solely responsible for the content of this announcement. ---------------------------------------------------------------------- --------------
- Q2 sales of some 70 mill. Euro up by 20 per cent on previous year
- EBIT increases to 1.5 mill. Euro (2006: 1.1 mill. Euro)
- Level of orders 155.2 mill. Euro at the end of June (2006: 96.2
mill. Euro)
- Growth dynamics expected to improve in latter half

According to the final figures now available, the Q2 sales improved
by a good 20 per cent on the previous year, from 57.8 mill. Euro to
69.7 mill. Euro. The revenues for the first six months of 2007
totalled around 127 mill. Euro and were up by 14 per cent on 2006
(111 mill. Euro). This increase is due predominantly to the
acquisition of Funkwerk Information Technologies (formerly Vossloh
Information Technologies).

The operative earnings (EBIT) rose to 1.5 mill. Euro in the second
quarter (2006: 1.1 mill. Euro). At 1.7 mill. Euro, the EBIT in the
first six months was above the prior-year level (1.4 mill. Euro),
regardless of the fact that the integration and consolidation
measures required for the acquisitions burdened the result. The
consolidated surplus rose on the previous year to 1.2 mill. Euro
(2006: 0.7 mill. Euro), so that the earnings per share stood at 0.15
Euro (2006: 0.09 Euro).

Similar to last year, fiscal 2007 of Funkwerk is once again defined
by a strong asymmetry in terms of sales and earnings distribution.
Since many orders, customer projects and product placements will not
come to fruition until the third and, predominantly, the fourth
quarter, while start-up expenses are booked in the first six months,
the Executive Board does not consider the earnings figure as at the
end of June representative for the whole year.

The synergy effects from the acquisitions realised in the first six
months, the potentials of new products, and the increase in incoming
orders (end of June 2007: 174 mill. Euro, 2006: 126 mill. Euro) will
have a positive knock-on effect on Funkwerk's group figures
predominantly in the latter half of the year. Based on the existing
orders (orders on hand as at the end of June: 155.2 mill. Euro, 2006:
96.2 mill. Euro) and current business initiations, Funkwerk
anticipates sales in the latter half to grow to over 170 mill. Euro,
the lion share of which will be attributable to the last quarter.

Funkwerk AG has confirmed its annual projections of 300 mill. Euro in
sales and operative earnings (EBIT) of some 15 mill. Euro for 2007.

The full interim report of Funkwerk AG is available for downloading

For further information contact

Funkwerk AG
Im Funkwerk 5
99625 Kölleda/Thuringia
Jörg Reichenbach
Investor Relations
Telephone: +49 (0) 36 35/458-346
Fax: +49 (0) 36 35/6 00 -507

--- End of Message ---

Funkwerk AG
Im Funkwerk 5 Kölleda Germany

WKN: 575314; ISIN:
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