Medion AG: Ad hoc announcement pursuant to Section 15 German Securities Trading Act (WpHG)
Preliminary figures indicate that the MEDION Group generated earnings before interest and taxes (EBIT) of €18.8 million in fiscal year 2009 (01/01/2009 - 12/31/2009). Sales came to €1.41 billion.
With business better than expected in Q4 2009, MEDION continued the positive trend of Q3 2009 and closed the recession year of 2009 with an overall better result than expected. Based on preliminary figures, MEDION clearly surpassed its own earnings forecast of €15 million.
Sales and earnings did in fact fall short of the previous year's figures (2008 sales: €1.6 billion; 2008 EBIT: €34.4 million). However, MEDION’s good brand position, expanded product portfolio and successful cost management made it possible to exceed the original expectation despite the difficult economic environment, reduced consumer spending in Germany and Europe, and the price decline for significant consumer electronics products.