Medion AG: Ad hoc announcement pursuant to Section 15 German Securities Trading Act (WpHG)
Pre-announcement from MEDION AG regarding Q3 2009 reporting
Sales and earnings better than expected in Q3 2009 - more specific forecast for fiscal year 2009
After a decline in sales of 18% in the first half of 2009, MEDION's business clearly stabilized in the third quarter of 2009. Sales in the third quarter of 2009 decreased by 7% to €329.8 million (Q3 2008: €354.4 million). Business in Germany grew significantly by 7.4% to €245.2 million. The stable gross margin enabled MEDION to achieve earnings before interest and taxes (EBIT) of €4.1 million in the third quarter of 2009 (Q3 2008: €5.2 million).
In view of the apparent stabilization of the German economy and the good demand for new MEDION products, it is now possible to provide a more specific forecast for the fiscal year 2009 as a whole. The Management Board now assumes the decline in sales to be only approximately 13% (previously 15%) and expects positive earnings before interest and taxes (EBIT) of €15 million (previously “clearly positive”).
As announced, the complete report for the first 9 months of 2009 will be published on November 12, 2009.