Greiffenberger : Ad-hoc-Release, august 05, 2014

Ad-hoc Release by the Greiffenberger AG (WKN 589 730 / ISIN DE0005897300) 

Greiffenberger AG - Unexpectedly weak second quarter leads to a 1.6 % decline in turnover in the first half-year; adjustment and detailing of the forecast for full-year 2014

Marktredwitz and Augsburg, August 05, 2014 - According to interim figures an unexpectedly weak second quarter 2014, with June in particular below expectations, resulted in turnover at the Greiffenberger Group dropping 1.6 % to € 75.7 m in the first half of the year. This decline in turnover stems from unexpectedly low sales in Germany especially. By contrast, turnover in the USA, China and France increased noticeably. Some customers in different sectors have been clearly more conservative in scheduling their orders, possibly due to the unexpectedly weaker economic growth in the second quarter in Germany. Because the turnover effect occurred recently it also had an impact on the result of the Greiffenberger Group for the first half of the year. Interim figures show that the EBITDA declined from € 6.8 m to € 4.0 m, and the EBIT from € 3.5 m to € 0.7 m.

At times in the second quarter customers were operating to very different ordering schedules, with some significantly reducing their orders while others increased theirs. This inconsistency in customer order patterns complicates the forecast on how business will continue to perform in 2014. The Greiffenberger Group is expecting a higher turnover in the second half of the year than in the first six months, and a turnover of between € 152 - 157 m for the full-year 2014. The operating result will therefore be better in the second half of the year than in the first six months. The Greiffenberger Group is currently planning for a 2014 EBITDA of € 9 - 11 m, and an EBIT of € 2 - 4 m.

Note: The 2014 mid-year financial report of the Greiffenberger Group will be announced on August 25, 2014.

On the Greiffenberger AG:

Registered in Marktredwitz, Greiffenberger AG is a family-led industrial holding with 1,088 employees. With an export ratio of 66 % it operates successfully worldwide in technologically demanding niche areas of three growth markets:

• Drive Technology: efficient drive technology for companies that develop market-leading solutions, particularly industrial applications, e-mobility and renewable energies.
• Metal Band Saw Blades & Precision Strip Steel: the finest quality for demanding industrial applications
• Pipeline Renovation Technology: state-of-the-art trenchless technology and pipe surface protection technology

The company's strategic focus is on continuing to develop sector expertise and advancing environmental technology in areas that include pipeline renovation technology, biomass heating and wind power. Organic growth will be generated by increasingly internationalizing sales and procurement, and complemented optionally by acquisitions of companies. The company has been listed since 1986 (WKN 5897300, ISIN DE0005897300, ticker symbol GRF).

Contact information:

Stefan Greiffenberger		Thorsten Braun
CEO of Greiffenberger AG		Assistant to the CEO
Eberlestraße 28
86157 Augsburg
Tel.: [phone]
Fax: [phone]
[e-mail]		[e-mail]