Page 373 - Zumtobel Group Geschaeftsbericht 2013-14 EN

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Facts and Figures
Group Management Report
62% and selling and administrative expenses two to
three percentage points below the current level of
approx. 29% over the medium-term.
The 2014/15 financial year will be an important
year of transition for the Zumtobel Group in which a
stable foundation is created for future profitable and
dynamic growth. Key tasks are to bring the new struc-
tures to life, to eliminate past inefficiencies and, in this
way, to leverage growth and cost synergies from the
multi-brand strategy. The necessary restructuring meas-
ures will result in negative special effects of roughly
EUR 20 million on operating earnings in 2014/15.
Based on the positive economic signals from the
second half of 2013/14 and the planned significant
cost savings, the management of the Zumtobel Group
looks toward the coming months with reserved opti-
mism in spite of the still limited visibility. The develop-
ment of revenues will be supported by slight tailwinds
from the recovering market environment in Europe,
but revenues from the sale of magnetic ballasts ended
with our exit from this technology in 2013/14. For
the 2014/15 financial year, we expect an increase
of approx. 3% in revenues as well as an improvement
in the adjusted EBIT margin to 5% to 6% (adjusted
EBIT margin 2013/14 financial year: 3.8%) despite
the end of magnetic revenues.
Dornbirn, 16 June 2014
The Management Board
Ulrich Schumacher
Chief Executive Officer
Karin Sonnenmoser
Chief Financial Officer
Martin Brandt
Chief Operating Officer