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Zumtobel Group makes dynamic first-quarter progress
18.09.2007
  • Revenues increase 6.1% to EUR 323.1 million
  • EBIT margin rises from 9.9% to 10.3%
  • Executive Board affirms full-year targets: revenues up 6%, double-digit EBIT margin

Dornbirn, Austria – The Zumtobel Group based in Dornbirn, Austria, has made a good start to the 2007/08 financial year with a successful first quarter. Group revenues rose 6.1% to EUR 323.1 million (Q1 2006/07: EUR 304.5 million), while adjusted EBIT increased 10.2% to EUR 33.3 million (PY: EUR 30.2 million). Both corporate divisions contributed to this positive development: while revenues in the luminaire sector moved ahead 4.0% to EUR 235.9 million (PY: EUR 226.8 million), the components sector continued its rapid progress, reporting a 10.1% increase in revenues to a total of EUR 105.0 million (PY: EUR 95.4 million). One particularly rewarding development was the growth of the Group’s LED business, which advanced 85% to EUR 8.6 million on the back of a major order.

“In the first quarter of 2007/08 we hit the targets we had set ourselves. Our revenue and earnings growth confirms that we are on the right track. And the marked positive development of business in our core European market enables us to look to the rest of the year with confidence,” said Zumtobel Group CEO Andreas Ludwig.

Strong growth in the core European market
A regional breakdown primarily reveals that business picked up speed significantly in the Group’s core European market, where sales were up 8.7% to EUR 262.9 million (PY: EUR 241.9 million). One major contributory factor here was a marked increase in revenues at Thorn in the UK.

Return on sales of over 10% targeted for 2007/08
Profitability also improved at the Zumtobel Group in Q1, as the EBIT margin rose from 9.9% to 10.3%. Here too, both divisions contributed. As a result, the Group is on track to achieve its full-year targets of a double-digit EBIT margin and revenue growth of between 5% and 6%. The Group’s balance sheet structure showed a further improvement, with the equity ratio moving ahead to 39%. The fall in net profit to EUR 25.1 million (PY: EUR 27.6 million) was due to non-recurring latent – and thus non-cash – tax proceeds in the first quarter of the previous year.

Milestones for further growth and enhanced profitability
In the course of the first quarter, the Group reported further milestone achievements in its efforts to boost profitability and open up new opportunities for growth. In respect of investments in the production sector, early in summer two luminaire plants in Australia were merged to form a single processoriented production facility. Then, early in September, construction work started on the new plant at Spennymoor in the UK, where production is scheduled to begin in the second half of 2008. To lay the foundations for further revenue growth, in the period under review the Group also made a smallerscale targeted acquisition in Hungary and increased its existing stake in a company in India.

Information:
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Media Contacts:
Astrid Kühn-Ulrich
Head of Corporate Communications
Tel. +43 (5572) 509 1570
astrid.kuehn@zumtobel.com
Verena Stättner
Corporate Communications
Tel.: +43 (5572) 509-575
verena.staettner@zumtobel.com
Investor Relations
Christian Hogenmüller
Head of Investor Relations
Tel.: +43 (5572) 509-506
christian.hogenmueller@zumtobel.com

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The Zumtobel Group – global market leader in the lighting industry

The Zumtobel Group, based in Dornbirn in the Vorarlberg region of Austria, is one of the few global players in the lighting industry. The Group, which started life as Elektrogeräte und Kunstharzpresswerk W. Zumtobel KG in 1950, today employs a workforce of almost 7,500 and in the 2006/07 financial year posted revenues of EUR 1,234.0 million. Under the leadership of its Management Board of Andreas J. Ludwig (CEO) and Thomas Spitzenpfeil (CFO), the Group today comprises two subgroups: Zumtobel Lighting Division deals with the luminaire business and includes the Thorn and Zumtobel brands. The TridonicAtco Division handles the lighting components business, while the two start-ups, Ledon and Lexedis, look after LED operations. The financial year of the Zumtobel Group commences on 1 May and ends on 30 April.



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