Rheinmetall AG / Key word(s): Change in Forecast
07.08.2014 07:14
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Changes in the Group's portfolio and the cancellation of an export permit
for Russia have led to an update in the overall annual forecast for
Rheinmetall AG for fiscal 2014.
Sales - Due to the contribution of the Aluminium-Technologie business unit
to a joint venture with the Chinese company HUAYU Automotive Systems Co.
Ltd (HASCO), sales of approximately EUR200 million which were included in
the original sales forecast no longer apply to the Automotive sector or the
Rheinmetall Group.
As a result, Rheinmetall now expects the Group to achieve sales of between
EUR4.6 billion and EUR4.7 billion in the current fiscal year (previously:
EUR4.8 billion to EUR4.9 billion) and the Automotive sector sales of
between EUR2.3 billion and EUR2.4 billion (previously: EUR2.5 billion to
EUR2.6 billion). The Defence sector is expected to achieve sales of around
EUR2.3 billion over 2014 as a whole on the basis of the high order backlog,
even in a difficult market environment.
Operating result - As a result of the planned joint venture with HASCO and
the associated loss of sales from the Aluminium-Technologie business unit,
Rheinmetall has also updated the forecast for the Automotive sector's
operating result in fiscal 2014, lowering it by EUR10 million to between
EUR155 million and EUR165 million. However, provided that the development
of global automotive production proves just as robust up to the end of the
year as it did in the first six months, the original forecast for the
operating result of between EUR165 million and EUR175 million may still be
achieved, despite reclassifying the Aluminium-Technologie business unit.
Due to the fact that the export license for the Mulino combat training
center in Russia has been withdrawn owing to changes in the political
environment, it is no longer possible to fulfill the respective contract
from today's perspective. Rheinmetall already assumes that this will lead
to financial burdens in the current fiscal year. The forecast for the
Defence sector's operating result has therefore been adjusted from between
EUR85 million and EUR95 million previously to between EUR65 million and
EUR75 million. However, Rheinmetall is working hard to ensure that these
burdens are kept as low as possible including the utilization of all
available legal options.
Consequently, Rheinmetall expects the Group to achieve an operating result
(EBIT) of between EUR200 million and EUR220 million in fiscal 2014
(previously: EUR230 million to EUR250 million).
07.08.2014 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Rheinmetall AG
Rheinmetall Platz 1
40476 Düsseldorf
Germany
Phone: +49 (0)211 473-4718
Fax: +49 (0)211 473-4157
E-mail: franz-bernd.reich@rheinmetall.com
Internet: www.rheinmetall.com
ISIN: DE0007030009
WKN: 703000
Indices: MDAX
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), Hamburg, München, Stuttgart; Freiverkehr in
Hannover
End of Announcement DGAP News-Service
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