EANS-News: Hönle generates semi-annual operating result of Mio. EUR 3.1

Gräfeling/München (euro adhoc) -

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The Hönle Group's sales revenues increased 4.6
% to TEUR 18,404 in the second quarter of the current financial year, compares with the period of the previous year. Despite the increase in sales revenues, the Hönle Group was affected by restrained purchasing activities in the printing segment in the run-up to the largest print trade fair, Drupa. The Hönle Group's operating result came to TEUR 2,268 (PY: TEUR 2,865) and the consolidated result was TEUR 1,629 (PY: TEUR 1,943) in the second quarter.

In the first six months of the financial year 2011/2012 revenues improved 6.5 %, compared with the previous year, to TEUR 34,177. Value adjustments in the first quarter respecting receivables from the insolvent Manroland AG (EUR 1.1 million) contributed to a decrease in the operating result (EBIT). The EBIT stood at TEUR 3,099 in the first half of the current financial year, down from TEUR 4,981 reported in the prior-year period. Earnings before tax (EBT) amounted to TEUR 2,981, down from TEUR 4,833 in the previous year, while consolidated net income came to TEUR 2,013, after TEUR 3,390 in the previous year. This corresponds to earnings per share of EUR 0.35 (PY: EUR 0.60).

The Hönle Group's operating cash flow was TEUR 2,614 in the first six months of 2011/2012.
The Hönle Group's equity capital ratio stood at 57.4 %.

Outlook:
Hönle Group's sales and earnings in the third quarter are expected to be lower than in the second quarter. This is attributable to the restrained purchasing behaviour usually observed in the run-up to the Drupa trade fair and to the repercussions of Manroland AG's insolvency. Moreover, a decline in the Raesch Group's incoming orders in the semiconductors and photovoltaics segments are expected to lead to a temporary decrease in sales.

Hönle Group foresees higher sales as from the fourth quarter as a consequence of the Drupa trade fair. Hönle expects increasing sales in the offset and digital printing segments. The mood at the Drupa trade fair was largely assessed as good by market participants, and the companies participating in the trade fair were satisfied with the development of the fair.
Hönle also projects a significant recovery in the quartz glass market in the fourth quarter and expects higher sales revenues for the Raesch Group.

The Management Board aims at achieving sales revenues of EUR 75 million and an operating result of EUR 8 million for the Hönle Group in the 2011/2012 financial year.

Managed by the Langley Group, Manroland Sheetfed GmbH is now considered to be a solid company, which has emerged from the insolvency with a new organisational structure. Following the Drupa trade fair, Manroland Sheetfed views the future with optimism, and the Hönle Group also expects good business development with respect to Manroland.

The Hönle Group's business activities presently focus on integration of the Raesch Group into the Hönle Group. This includes the centralisation of the IT, accounting and controlling divisions. The focus is also on the capacity utilisation of the melting furnaces, in particular the melting furnaces of Raesch Germany, which will start operations in this financial year. In this context, it is important to intensify the sales activities, in particular the management of the distribution partners, in order to expand the Raesch Group's market share in the quartz glass tubing segment. To increase earnings power, all expense areas are currently being analysed and corresponding measures, which will probably be completed this year, are being initiated. It is also planned to relocate manufacturing stages to Malta with a view to decreasing manufacturing costs by using the production plants in Malta. By means of the above mentioned measures, the Raesch Group is now paving the way for a successful 2012/2013 financial year.

The integration of Mitronic is being pushed ahead further. The determination of new processes ensures the products' high quality level. The stepping up of sales activities is to open up new sales opportunities in the lighting technology and sunlight simulation segments.

To sum up, it is assumed that the repercussions of Manroland AG's insolvency will impact perceptibly on Hönle Group's business development in the 2011/2012 financial year, but, in all, this impact is nevertheless expected to be limited. Owing to the restructuring of Manroland Sheetfed in conjunction with the new solvent investor, Hönle expects positive business development in the sheetfed offset segment in the future. As from the fourth quarter, Hönle also expects positive sales and earnings effects at the Raesch Group on account of two new melting furnaces starting operations and the realisation of new projects. With respect to the adhesives segment, Hönle projects an increase in fourth quarter sales revenues in the adhesive applications segment for smart phones and smart cards.

About Hönle:
Dr. Hönle AG is a listed technology company with head office in Gräfelfing near Munich. With a staff level of nearly 500 employees, the Hönle Group is one of the world's leading systems suppliers in the UV technology segment. The equipment is used for drying inks and coatings, curing adhesives and plastics, disinfecting surfaces, and for the simulation of natural sunlight. The Company's business activities focus also on the development and sale of industrial adhesives and casting compounds. In addition, the group produces UV lamps particularly for water disinfection and manufactures tubes and semi-finished products made of quartz glass, which are used in different branches of industry. The Group is represented worldwide at 50 locations in more than 20 countries by own companies and sales partners.

end of announcement euro adhoc

company: Dr. Hönle AG
Lochhamer Schlag 1
D-82166 Gräfeling/München
phone: +49 89 85608 0
FAX: +49 89 85608 101
mail: ir@hoenle.de
WWW: www.hoenle.de
sector: Instrument Engineering
ISIN: DE0005157101
indexes: CDAX, Prime All Share, Technology All Share stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf, Stuttgart, regulated dealing/prime standard: Frankfurt language: English

Rückfragen & Kontakt:

Peter Weinert
Tel.: +49 89 85608 173
E-Mail: peter.weinert@hoenle.de
Web: www.hoenle.de

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