Medion AG: Ad hoc announcement pursuant to Section 15 German Securities Trading Act (WpHG)
According to preliminary unaudited figures, the MEDION Group generated earnings before interest and taxes (EBIT) of EUR 28.1 million in fiscal 2010 (January 1 to December 31, 2010) compared to EUR 18.8 million in 2009. Total Group sales amounted to EUR 1.64 billion (2009: EUR 1.41 billion).
After the forecast for the year had been more closely defined and raised as early as November 12, 2010 with the release of the Interim Report as of September 30, 2010, this positive business performance was continued in the 4th quarter of 2010. Sales rose by 13.2% to EUR 1.16 billion in the project business and by 24% to EUR 478 million in the direct business in 2010. For the current fiscal year, the Management Board expects sales to be unchanged from the previous year's level due to the price decline, in particular for LCD TVs, and the ascertainable trend to compact mobile consumer electronics products with correspondingly lower price points. Although it is still not possible to provide a reliable forecast for fiscal 2011, the Management Board expects that the sustained strong trend will contribute to an increase in the operating result (EBIT) of approximately 15%.