PDF (7.3 MB) - GILDEMEISTER Interim Report 3rd Quarter 2012

116Forecast Report: Future Development of the gildemeister Groupexpected distribution of sales 2011of the gildemeister group by regionsin %Rest 3%America 5%Asia 16%Domestic 34%Rest of Europe 42%business reportSupplementary / Forecast ReportFor the first quarter we are planning sales revenues of more than € 300 million(previous year’s quarter: € 244.4 million). In the first six months of 2011, sales revenueswill be noticeably above the level of the previous year. Order intake in the core segmentof “Machine Tools” rose markedly. As a result sales revenues in “Machine Tools” will besignificantly higher than in the previous year. In “Services” we are assuming a furtherincrease in sales revenues. Also in “Energy Solutions” we plan to increase sales revenuesonce again. Overall for financial year 2011 we plan sales revenues of more than € 1.5 billion.In the first quarter the order backlog will be higher than that of the previous year(€ 644.5 million).Earnings will clearly improve in the first quarter in a year-on-year comparison withthe previous year. We are expecting clear growth in ebt and annual net income for theentire year. Based on the positive outlook for business and earnings, we are planning topay a dividend for financial year 2011.Materials expenses will absolutely increase due to the planned increase in salesrevenues. We plan to improve the materials ratio. As a consequence of the plannedrevenue growth, employee expenses and other operational expenses will also increase.We plan a small improvement in the personnel ratio and in other operating expenses inrelation to total operating revenue.For the whole year 2011, we anticipate positive free cash flow. Our measures areaimed at further improving the financing structure in financial year 2011 and the gearing.At the same time, focus continues to be placed on reducing working capital.Our sound financing will provide the necessary liquidity for 2011 according tocurrent estimates and moreover we will have a reasonable margin in lines of financing.No concrete statements can be made on liquidity due to the decided capital increaseand a further promptly planned capital increase. We are working extremely hard toreduce the costs of capital compared to the previous year.