Home News Rheinmetall arises once again a critical year of growth

Rheinmetall arises once again a critical year of growth

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By Nico Schmidt
DOW JONES NEWSWIRES 


FRANKFURT (Dow Jones) – The defense group and Automotive Rheinmetall arises after recovering from the crisis year in 2010 back on the growth book. "We want to have this year get back to our previous level of earnings, "said CEO Klaus Eberhardt on Tuesday at the annual press conference of the MDAX-listed company at its headquarters in Dusseldorf.

Strong Defense Division will remain on a profitable Growth, and in automotive we will be significantly lowered by a Break-even point as well as directly from the industry-wide recovery "benefit.

In the defense segment of 2010, sales could more than 5% grow, the operating profit will Rheinmetall in the Business increased again. In the automotive supply business, the division Kolbenschmidt Pierburg, keep the Düsseldorfer a revenue increase of more than 10% is possible. Moreover, the crisis-segment is Thanks to the strict austerity before interest and taxes surgery again Leave the black.

At group level, Rheinmetall expects, given the positive sector development with an expected revenue increase to 3.7 billion EUR and an operating profit 220 million to 250 million euros. For 2011 Rheinmetall is aiming its sights on increases in sales and results.

The market was waiting with great anticipation to the views of the MDAX-listed group been. The arms company and automotive supplier is due to a Recovery in car production, the trend towards lower emissions Engines and bulging order books in the Defense business this year, some credit for.

The figures for the full year, however, for little worried Surprise, since the Rheinmetall AG is already mid-February, preliminary Ratios had published. Revenues declined in 2009, given over most of the year of very weak growth in Business with the ailing car industry by more than 10% to 3.45 billion EUR.

This also weighed on earnings. Thanks to the stable development in the defense segment and the strict austerity could Rheinmetall in the past fiscal year but at least operating in the black numbers save.

Despite the significantly higher than expected costs for the Restructuring the automotive business Kolbenschmidt Pierburg of almost 140 million EUR Rheinmetall generated before interest and taxes of 2009 Plus 15 (previous year: 245 million) EUR. The bottom line is expected, said Rheinmetall a loss of EUR 52 million, having earned the previous year or 142 million EUR had been.

By the end of 2008 there were heavy in the Dusseldorf by the crisis the auto industry had been hit and then the red pencil scheduled. In the wake of intensified austerity program in spring 2009 Rheinmetall announced in the automotive segment, the reduction of several hundred Jobs in and imposed a temporary Investment ban. Fixed costs decreased by 2009, at EUR 72 million, the break-in Kolbenschmidt Pierburg is now even at a lower, at 300 million EUR turnover be achieved.

The fact that the past year was a difficult, are also Rheinmetall’s shareholders are feeling too. The company plans for 2009 Dividend of EUR 0.30 per share be paid. For 2008, Rheinmetall had EUR 1.30 per NAV per share be distributed. The proposed dividend , the General Meeting on 11 May approve yet.

   

Website: www.rheinmetall.de

-By Nico Schmidt, Dow Jones Newswires, +49 - (0) 69 297 25 114;
nico.schmidt @ dowjones.com

DJG / ncs / jhe
Dow Jones Newswires


March 23, 2010 05:00 ET (09:00 GMT)