Extraordinary charges weakened results of the second quarter 2009
KUKA's preliminary numbers for the second quarter 2009 indicate EBIT came in at EUR -23 million and earnings after taxes at EUR -34 million.
20 July 2009
EBIT was impacted by extraordinary accruals related to restructuring foreign subsidiaries totaling EUR -13 million and by declining sales revenues associated with the difficult market situation totaling EUR -4 million.
Earnings after taxes were impacted when tax loss carryforwards were forfeited because Grenzebach Maschinenbau GmbH's share of KUKA increased to over 25 percent. This had a negative impact of EUR -10 million.
The results for the second quarter 2009 were therefore weaker than expected due to extraordinary charges.
KUKA's preliminary numbers for the second quarter 2009 indicate orders received came in at EUR 253 million and sales revenues at EUR 211 million. Thus orders received were approximately EUR 40 million higher and sales revenues approximately EUR 16 million lower than the comparable figures in the first quarter 2009.
For the year 2009 overall, KUKA expects a breakeven operating result (EBIT) and a breakeven free cash flow before extraordinary restructuring costs. However, taking into consideration the extraordinary restructuring costs, KUKA expects that the operating result (EBIT) and free cash flow will be well into negative territory.
Extraordinary restructuring measures related to operations in Germany are currently not anticipated in the second half of 2009.
Augsburg, July 20, 2009
The Executive Board
Earnings after taxes were impacted when tax loss carryforwards were forfeited because Grenzebach Maschinenbau GmbH's share of KUKA increased to over 25 percent. This had a negative impact of EUR -10 million.
The results for the second quarter 2009 were therefore weaker than expected due to extraordinary charges.
KUKA's preliminary numbers for the second quarter 2009 indicate orders received came in at EUR 253 million and sales revenues at EUR 211 million. Thus orders received were approximately EUR 40 million higher and sales revenues approximately EUR 16 million lower than the comparable figures in the first quarter 2009.
For the year 2009 overall, KUKA expects a breakeven operating result (EBIT) and a breakeven free cash flow before extraordinary restructuring costs. However, taking into consideration the extraordinary restructuring costs, KUKA expects that the operating result (EBIT) and free cash flow will be well into negative territory.
Extraordinary restructuring measures related to operations in Germany are currently not anticipated in the second half of 2009.
Augsburg, July 20, 2009
The Executive Board