Walldorf, November 28, 2008. According to the latest estimate for the months of November and December, REALTECH AG will not be able to reach its sales and EBIT growth targets in the fourth quarter of 2008. Up to the end of October 2008, REALTECH AG was way above the published targets for sales and EBIT growth (sales growth of 14% year on year, EBIT growth of 11% year on year).
Based on the calculations, the Executive Board has concluded that the annual forecast needs to be modified accordingly. The Executive Board now expects to record sales growth of around 8% in the fiscal year 2008. As for income from operations, an EBIT figure on a par with that of the previous year is expected.
This revaluation has become necessary due to postponement of large-scale projects that will no longer be implemented in fiscal year 2008 as a result of the global economic crisis.
In view of this estimate for 2008 and the global economic crisis expected in 2009, the Executive Board of REALTECH AG has established a Group-wide cost-cutting program with immediate effect.
Contact:
Volker Hensel
Investor Relations
REALTECH AG
69190 Walldorf
Tel.: +49.6227.837.500
Fax: +49.6227.837.9134