December 21, 2011
- Oliver Schuster to assume CFO position effective March 1, 2012
- Outlook for 2012 remains positive
- Operative guidance for 2011 confirmed
Unterneukirchen (Germany) The Supervisory Board of the SDAX-quoted specialty chemicals Group SKW Metallurgie decided in its meeting of December 20, 2011 unanimously that Mr. Oliver Schuster (47) will be appointed to the Executive Board of SKW Stahl-Metallurgie Holding AG effective March 1, 2012. Mr. Schuster has served since 2000 in responsible positions at Infineon Technologies AG, lastly as CFO of their largest operative unit „Industrial & Multimarket“. In the SKW Metallurgie Group, he is going to assume the finance department, which will have been overseen by CEO Ines Kolmsee (additionally acting CFO) until his commencement. As of the appointment of Mr. Schuster, the Executive Board of the company will consist of three members.
“We are very pleased to have attained in Mr. Schuster a highly qualified candidate as CFO for the SKW Metallurgie Group. He is particularly coined by his comprehensive international experience, of which the SKW Metallurgie Group will benefit on its global growth track,“ says the Chairperson of the Supervisory Board, Titus Weinheimer.
Operative result for 2011 above previous year – EBITDA growth for 2012 reiterated
For the current business year 2011, the SKW Metallurgie Group forecasts an operative EBITDA above the previous year figure of € 28.8 million despite the softening economic climate. However, reported EBITDA is expected to not reach the guidance of € 32 million.
Pertaining reasons are negative one-off effects, in particular a payment made in Q4/2011 in connection with a current legal dispute, negative currency impacts and a fraud case in China. With regard to the overall good operative result, the SKW Metallurgie Group nevertheless assumes to be able to propose an attractive dividend payout for business year 2011 to the Annual General Meeting 2012. For business year 2010, € 0.50 per share had been disbursed.
Uncertainty regarding the impacts of the financial crisis onto the real economy has significantly increased in the recent months, and the experts unilaterally assume a slow-down of the global economy. Nevertheless, the SKW Metallurgie Group maintains its basically positive assessment concerning the growth potentials of the Group. Under the assumption of an at least stable development of the global economy and in particular of steel production, which is of particular relevance for the SKW Metallurgie Group, the Executive Board confirms its forecast of reaching growth in revenues and earnings in the coming business year 2012. That optimism is supported by the expected improved EBITDA contributions of the new plants in Bhutan, Russia and Sweden, as well as of the extended production facility in Brazil. Since the large investment projects of the SKW Metallurgie Group have been completed for the most part, free cash flow shall be improved in 2012.
Further information on the Group may be found in this web site.
Contact
SKW Stahl-Metallurgie Holding AG
Christian Schunck
Head of IR and Corporate Communications
Prinzregentenstrasse 68
81675 Muenchen
Germany
Direct line IR/Press: +49 89 5998923-22
Fax: +49 89 5998923-29
E-mail: schunck@skw-steel.com
Internet: www.skw-steel.com
About SKW Stahl-Metallurgie Holding AG
SKW Metallurgie is the global market leader for chemical additives for hot metal desulphurization, and for cored wire used in secondary metallurgy. The Group’s products enable steel-makers to efficiently manufacture high-quality steel products. Clients include the world’s leading companies in the steel industry. The SKW Metallurgie Group has more than 50 years of metallurgical know how, and currently operates in more than 40 countries. What is more, the Group is a leading supplier of Quab specialty chemicals, which are mainly used in the global production of industrial starch for the paper industry. The company’s operating business is broken down into the two core segments “Cored Wire” and “Powder and Granules”, and the “Other” segment. The SKW Metallurgie Group is headquartered in Germany with production facilities in France, the US (6), Canada, Mexico, Brazil, South Korea, Sweden, Russia, Bhutan, the People’s Republic of China (2) and India (2 via joint venture). At the existing site in Brazil, a new production plant is under construction.
Shares of SKW Stahl-Metallurgie Holding AG have been listed in Frankfurt Stock Exchange’s Prime Standard since December 1, 2006 with ISIN DE000SKWM013 (since August 15, 2011: New ISIN DE000SKWM021), and have been included in the SDAX index from June 23, 2008.
DISCLAIMER
This press release contains statements on future developments that are based on currently available information and involve risks and uncertainties that could cause the actual results to differ from these forward-looking statements. These risks and uncertainties include, for example, unpredictable changes in political and economic conditions, particularly in the steel and paper industry, the competitive situation, interest and currency risks, technological development as well as other risks and unexpected circumstances. SKW Stahl-Metallurgie Holding AG and its Group companies accept no obligation to update such forward-looking statements.
