EANS-News: Rosenbauer International AG / Revenues up slightly at EUR 181.9 million thanks to increases in Europe and USA / Lower capacity utilization negatively impacts EBIT in first quarter of 2017 /

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quarterly report

______________________________________________________________________________
|GROUP_KEY_FIGURES__|_________________|_____________1/2016|______________1/2017|
|Revenues___________|___EUR million___|______________172.0|_______________181.9|
|EBIT_______________|___EUR million___|________________3.4|_______________(3.1)|

|Net profit for the | EUR million | |
| |period_____________|_________________|________________2.8|________
_______(2.6)| |Cash flow from | |
| | |operating | EUR million |
| | |activities_________|_________________|_______
______(53.6)|______________(49.7)| |Equity in % of |
| | | |total_assets_______|_____
____________|______________33.7%|_______________35.1%| |Earnings_per_
share_|_______EUR_______|________________0.0|_______________(0.7)|
|Employees as of | | |
| |March_31___________|_________________|______________3,241|________
_______3,360| |Order backlog as of| EUR million |
| | |March_31___________|_________________|_______
_______861.7|_______________790.6|

A similar development to 2016 is expected on the global firefighting
markets in 2017. Above all demand is currently being driven by
countries with continuous procurement or elevated security
requirements following natural or terrorist disasters.

Development of revenues and earnings The Rosenbauer Group generated
revenues of EUR 181.9 million in the first quarter of 2017 (1-3/2016:
EUR 172.0 million). While decreases in deliveries were observed in
some Middle Eastern countries, deliveries were on the rise in North
America and parts of Europe.

The first three months of the current year once again showed that the
first quarter is always significantly weaker in terms of revenues and
income. This is partly because the majority of deliveries are usually
made in the second half of the year. These seasonal fluctuations over
the course of the year are partially leveled out by centrally managed
procurement that is not based on government budgets.

In the first quarter, EBIT was down on the previous year at EUR -3.1
million (1-3/2016: EUR 3.4 million). The difference in comparison to
the first quarter of the previous year was mainly attributable to low
capacity utilization due to the political situation in the Gulf
States and the resulting lower coverage of fixed costs at the plants
in Leonding, combined with the lack of any highly profitable
deliveries and the start-up costs for the platform manufacturer
Rosenbauer Rovereto. Consolidated EBT for the reporting period
amounted to EUR -2.8 million (1-3/2016: EUR 3.6 million).

Financial and net assets position For reasons specific to the
industry, the structure of the statements of financial position
during the year is characterized by high working capital. This is due
to the turnaround times, lasting several months, for vehicles in
production. In addition, the high intra-year level of total assets of
EUR 678.5 million (March 31, 2016: EUR 687.9 million) is attributable
to the increase in property, plant and equipment financed by equity.

As a result of the upcoming delivery volume in the current year,
inventories rose to EUR 211.1 million in the reporting period (March
31, 2016: EUR 204.2 million), while construction contracts were down
year-on-year at EUR 73.8 million (March 31, 2016: EUR 101.2 million)
due to changes in capacity utilization. Current receivables were kept
at the previous year's level at EUR 183.7 million (March 31, 2016:
EUR 179.1 million). The Group's net debt (the net amount of
interest-bearing liabilities less cash and cash equivalents and
securities) decreased yearon- year to EUR 227.4 million (March 31,
2016: EUR 262.0 million).

Owing to the high level of working capital - due to high customer
receivables - the intra-year cash flow from operating activities was
still negative at EUR -49.7 million (1-3/2016: EUR -53.6 million). An
improvement in the cash flow from operating activities is expected by
the end of the year.

Outlook The uncertainty regarding the development of the firefighting
markets has increased tangibly in recent months. Geopolitical tension
and the low price of oil could affect growth on certain markets in
2017 as well. Overall, however, stable development in global demand
for firefighting technology is assumed.

With a strong market presence, geographically balanced business, its
broad portfolio, technology leadership and financial strength,
Rosenbauer is well placed to take advantage of these opportunities
for profitable, long-term growth. It will continue to focus on
efficiency enhancement and cost reduction so as to ensure that the
intended growth can be implemented on a solid financial basis.
Despite the lower capacity utilization at the beginning of the year
due to project effects and the sustained margin pressure in the
developed markets in addition to the above factors, management is
aiming to keep revenues and earnings at the previous year's level.

Further inquiry note:
Rosenbauer International AG
Mag. Gerda Königstorfer
Tel.: 0732/6794-568
gerda.koenigstorfer@rosenbauer.com

end of announcement euro adhoc
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company: Rosenbauer International AG
Paschingerstrasse 90
A-4060 Leonding
phone: +43(0)732 6794 568
FAX: +43(0)732 6794 89
mail: ir@rosenbauer.com
WWW: www.rosenbauer.com
sector: Machine Manufacturing
ISIN: AT0000922554
indexes: WBI, ATX Prime
stockmarkets: free trade: Berlin, Stuttgart, official market: Wien
language: English

Original-Content von: Rosenbauer International AG, übermittelt durch news aktuell