Schaltbau increases Group net profit despite crisis – dividend to be raised to 50 cents plus 20 cents special dividend per share

Munich, 9 March 2010 – The earnings position of the Schaltbau Group developed positively compared to the previous year, despite the year of crisis in 2009. The year under report was marked by a significant decline in firm orders, particularly in the industrial sector. Incoming orders decreased by €29.5 million or 10.5% to €251.7 million, accompanied by a 3.7% reduction in sales revenues, which totalled €269.8 million.

According to preliminary figures, despite declining sales revenues, the previous year's earnings from operating activities (EBIT) of €21.9 million were largely maintained at €20.3 million in 2009, thanks to the timely introduction of adaptation measures. Preliminary Group net profit rose from €13.1 million in 2008 to €14.1 million in 2009. The result includes the exceptional post-tax gain of €1.1 million arising from the sale of Bode Beijing. The net proceeds total €0.3 million more than the published estimation due to favourable changes in currency exchange rates and lower transaction costs. In addition to withholding taxes connected with this sale, the tax expense for the year also reflects current tax field audit risks and deferred taxes. The profit attributable to shareholders of Schaltbau Holding AG amounts to €12.3 million (previous year: €11.8 million). Undiluted earnings per share surpassed expectations and stand at €6.62 (previous year: €6.35). Net bank liabilities were reduced to €33.9 million (previous year: €37.7 million).

In light of the Group's stable earnings situation, the Executive Board will submit a proposal to the Supervisory Board that a dividend of 50 cents per share be paid as well as an additional special dividend of 20 cents per share arising from the sale of Bode Beijing.

In view of the expected moderate economic recovery, the Executive Board predicts order-intake figures of €275 million and sales revenues of €270 million respectively for the fiscal year 2010. Based on business performance to date, the Executive Board abides by the earnings forecast made in November 2009, which announced earnings per share in the region of €5.40.

contact

Schaltbau Holding AG

Hollerithstraße 5
D-81829 München

Wolfdieter Bloch
Public Relations

Phone +49 (0)89/93005-209
Fax +49 (0)89/93005-318
bloch@schaltbau.de