DJ DGAP-Adhoc: Leica Camera AG: Fiscal 2007/2008 closed with 7.3 % sales growth and Group net income of EUR 3.0 million
Leica Camera AG: Fiscal 2007/2008 closed with 7.3 % sales growth and Group net income of EUR 3.0 million Leica Camera AG / Final Results 18.06.2008 Release of an Ad hoc announcement according to § 15 WpHG, transmitted by - a
Leica Camera AG: Fiscal 2007/2008 closed with 7.3 % sales growth and Group net income of EUR 3.0 million
Leica Camera AG / Final Results 18.06.2008 Release of an Ad hoc announcement according to § 15 WpHG, transmitted by - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. = In fiscal year 2007/2008 (FY end: March 31) the group of companies led by Leica Camera AG, Solms, Germany (ISIN DE000A0EPU98), has achieved sales of EUR 156.2 million according to the Group financial statements prepared by the Board of Management. This constitutes a 7.3 % increase on the previous year sales of EUR 145.7 million. The Group net result for the year came to a positive EUR 3.0 million, thus improving previous year"s net income of EUR 0.5 million by EUR 2.5 million. The annual financial statements of Leica Camera AG were adopted and the Group financial statements approved in the Supervisory Board meeting on June 18, 2008. The increase in annual sales was mainly due to the sales of compact cameras increasing by EUR 10.1 million to EUR 49.5 million and the sales of system cameras increasing by EUR 3.6 million to EUR 57.2 million.
In the compact cameras product line, the D-Lux 3, C-Lux 2 and V-Lux 1 models were particularly successful. The rise in sales of system cameras resulted from the sales of the LEICA M8 and the lenses appertaining thereto. Sales of binoculars, rangefinders and scopes in the Leica sports optics range registered a decrease by 3.1 % to EUR 29.7 million. In fiscal 2007/2008 the Company introduced the Ultravid HD binoculars to the market. Further product innovations in sports optics will be presented in the course of the current fiscal year and are intended to generate new growth stimuli. Sales abroad grew at a higher rate of 10.7 % and at EUR 134.5 million accounted for 86.1 % of total sales. Sales in the North American region were up 18.8 % to EUR 44.9 million, thus accounting for 28.8 % of total sales and making the region the most important individual market. Sales in Germany fell by 10.2 % to EUR 21.8 million. Both Europe (excluding Germany), as well as Asia and Australia saw sales increases - by 3.5 % and 12.7 %, respectively. The Company was able to improve on previous year"s slightly positive net income of EUR 0.5 million and achieved a Group net income of EUR 3.0 million. This development is mainly due to the significant increase of the operating result by EUR 2.8 million, which increase was based on the sales upturn, as well as on cost savings. The interest result improved by EUR 0.6 million, mainly due to interest received on balances with banks. In fiscal 2007/2008 the Company repaid EUR 4.8 million of its financial liabilities. The equity basis and the liquidity position of the Leica Group have been improved as compared to the previous year. The equity ratio increased from 18.1 % as at March 31, 2007 to 20.8 % as at March 31, 2008. The Group financial statements have been prepared in accordance with the International Financial Reporting Standards (IFRS). For the fiscal year 2008/2009 the Board of Management expects a Group net loss in the higher one-digit EUR million range, resulting from research and development expenditure, selling costs and delayed market introduction of new products. The same applies to the single-entity financial statements of Leica Camera AG. Provided innovative products be successfully introduced to the market at the 2008 photokina Trade fair the Board of Management deems probable a Break-even or slightly positive result in fiscal year 2009/2010. Contact: Ralph Hagenauer / Phone direct +49 6442 - 208 152 / Fax direct +49 6442 - 208 333 / ralph.hagenauer@leica-camera.com 18.06.2008 Financial News transmitted by = Language: English Issuer: Leica Camera AG Oskar-Barnack-Straße 11 35606 Solms Deutschland Phone: 06442-208-0 Fax: 06442-208-333 E-mail: ir@leica-camera.com Internet:
www.leica-camera.com ISIN: DE000A0EPU98 WKN: A0EPU9 Listed: Regulierter Markt in Frankfurt (General Standard); Freiverkehr in Berlin, München, Hamburg, Stuttgart End of News News-Service =
(END) Dow Jones Newswires
June 18, 2008 09:41 ET (13:41 GMT)
