04/13/2011

Schuler receives record level of new orders in first half-year

New orders reach € 817 million at end of March - Strong growth also in sales - Large majorities for administration proposals at Annual General Meeting

After the first six months of its fiscal year 2010/11 (year ending 30 September), Schuler AG can report further strong gains in new orders and sales. At its Annual General Meeting on Wednesday in Göppingen, the world’s leading specialist for metalforming technology reported a record level of new orders as at the end of March of around € 817 (prior year: € 293.9) million, according to preliminary consolidated figures. Schuler’s preliminary consolidated sales figures also grew strongly to around € 393 (€ 291.7) million.

“This encouraging development in our order position is rooted both in our domestic German market as well as in many of our foreign markets,” states CEO Stefan Klebert. “We are not only benefiting from the healthy development of car manufacturers and their suppliers, but also enjoying strong growth in many other technology fields.” Schuler builds precision presses for a wide range of industrial clients in the capital goods and consumer goods sectors.

At the company’s Annual General Meeting, CEO Stefan Klebert confirmed earlier forecasts for strong growth in consolidated sales and earnings in the current fiscal year. Schuler expects consolidated sales to reach between € 870 and € 920 (prior year: € 650.3) million in 2010/11. The Group’s operating result before interest, taxes and depreciation is expected to raise the EBITDA ratio to around seven (prior year: five) percent.

The Annual General Meeting of Schuler AG voted overwhelmingly in favor of the administration’s proposed resolutions to formally approve the acts of the Board of Management and Supervisory Board and to create a new Authorized Capital.

Schuler will announce its final figures for the first six months of fiscal year 2010/11 on May 26.

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