DGAP-News: SKW Stahl-Metallurgie Holding AG: SKW

DGAP-News: SKW Stahl-Metallurgie Holding AG / Key word(s): Preliminary Results SKW Stahl-Metallurgie Holding AG: SKW Metallurgie with improved adjusted operative EBITDA 07.02.2014 / 17:21 --------------------------------------------------------------------- SKW Metallurgie with improved adjusted operative EBITDA * Preliminary adjusted operative EBITDA increased by EUR 2.5 million to EUR 22.0 million * First successes of earnings increase program EPC visible * Optimism for 2014 Unterneukirchen (Germany), February 07, 2014. Global specialty chemicals group SKW Metallurgie attained - according to preliminary, unaudited figures - in business year 2013 an operative EBITDA in the amount of EUR 22.0 million. Thereby, the capital markets guidance (pledging to surpass the previous year's figure of EUR 19.5 million) was delivered. This increase (compared to the previous year) in the amount of EUR 2.5 million (+13%) is remarkable, in particular with respect to the decrease in steel production in the relevant geographical markets. The steel industry remains the most important client industry for the SKW Metallurgie Group and demands SKW Metallurgie Products mainly in dependence of their own production volume. The increase in operative EBITDA is also due to first successes of the Group-wide earnings increase program 'Every Penny Counts' (EPC), which was implemented in the second half of 2013. The accounting EBITDA (compiled according to international accounting standard IFRS) for business year 2013 - according to preliminary, unaudited figures - amounted to EUR 15.2 million (previous year: EUR 20.8 million). Main reasons for that are unrealized - and hence non-cash - foreign currency effects, which mainly derive from the valuation of Group-internal loans. In 2012, those currency effects amounted to EUR 1.0 million; in 2013, however, EUR -3.3 million. The remaining decrease also includes the net effects from two aperiodic legal cases, including the accrual of provisions (with effect in Q4/2013) based on judgments by the Court of Justice of the European Union, as already communicated on January 23, 2014. Central financial performance indicator of the SKW Metallurgie Group remains 'operative EBITDA', which was introduced in Q3/2013 reporting. This indicator clearly shows the operative facts and significantly strengthens the meaningfulness of financial reporting. Unrealized currency effects as well as aperiodic one-offs from legal cases are of a non-operative nature and are therefore apt to disguise the view onto operative capabilities. Hence, the introduction of an operative indicator was a consequent step in order to be able to present to investors an undisguised view onto the SKW Metallurgie Group. In 2014, further earnings improvements are expected from the ongoing earnings increase program 'Every Penny Counts' (EPC); hence, the Executive Board of the SKW Metallurgie Group is in an optimistic mood for business year 2014, which has just commenced. Concrete capital market guidance for the current year as well as the comprehensive, audited financial figures for the previous are presented, as usual, at the Annual Financial Press Conference. This year, the Annual Financial Press Conference is scheduled to take place in in München/Munich (Germany) on March 28, 2014. Further information on the Group can be found online at: www.skw-steel.com. â?? Contact SKW Stahl-Metallurgie Holding AG Christian Schunck Head of IR and Corporate Communications Rathausplatz 11 84579 Unterneukirchen Germany Telephone IR/Press: +49 8634 62720-15 Fax: +49 89 5998923-29 E-mail: schunck@skw-steel.com Internet: www.skw-steel.com About SKW Stahl-Metallurgie Holding AG The SKW Metallurgie Group is the global market leader for chemical additives for hot metal desulphurization, and for cored wire used in secondary metallurgy. The Group's products enable steel-makers to efficiently manufacture high-quality steel products. Clients include the world's leading companies in the steel industry. The SKW Metallurgie Group has more than 50 years of metallurgical know how, and currently operates in more than 40 countries. What is more, the Group is a leading supplier of Quab specialty chemicals, which are mainly used in the global production of industrial starch for the paper industry. The company's operating business is broken down into the two core segments 'Cored Wire' and 'Powder and Granules', and the 'Other' segment. The SKW Metallurgie Group is headquartered in Germany with production facilities in France, the US (6), Canada, Mexico, Brazil, South Korea, Sweden, Bhutan, Russia, the Peoples' Republic of China (2) and India (2 via joint venture). Shares of SKW Stahl-Metallurgie Holding AG have been listed in Frankfurt Stock Exchange's Prime Standard since December 1, 2006 with ISIN DE000SKWM013 (from August 15, 2011: new ISIN DE000SKWM021). DISCLAIMER This press release contains statements on future developments that are based on currently available information and involve risks and uncertainties that could cause the actual results to differ from these forward-looking statements. These risks and uncertainties include, for example, unpredictable changes in political and economic conditions, particularly in the steel and paper industry, the competitive situation, interest and currency risks, technological development as well as other risks and unexpected circumstances. SKW Stahl-Metallurgie Holding AG and its Group companies accept no obligation to update such forward-looking statements. End of Corporate News --------------------------------------------------------------------- 07.02.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: SKW Stahl-Metallurgie Holding AG Rathausplatz 11 84579 Unterneukirchen Germany Phone: +49 (0)8634 62720-15 Fax: +49 (0)8634 62720-16 E-mail: info@skw-steel.com Internet: www.skw-steel.com ISIN: DE000SKWM021 WKN: SKWM02 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 251717 07.02.2014