12.05.2017, 5795 Zeichen

Corporate news transmitted by euro adhoc. The issuer/originator is solely responsible for the content of this announcement.
quarterly report
______________________________________________________________________________ |GROUP_KEY_FIGURES__|_________________|_____________1/2016|______________1/2017| |Revenues___________|___EUR million___|______________172.0|_______________181.9| |EBIT_______________|___EUR million___|________________3.4|_______________(3.1)| |Net profit for the | EUR million | | | |period_____________|_________________|________________2.8|_______________(2.6)| |Cash flow from | | | | |operating | EUR million | | | |activities_________|_________________|_____________(53.6)|______________(49.7)| |Equity in % of | | | | |total_assets_______|_________________|______________33.7%|_______________35.1%| |Earnings_per_share_|_______EUR_______|________________0.0|_______________(0.7)| |Employees as of | | | | |March_31___________|_________________|______________3,241|_______________3,360| |Order backlog as of| EUR million | | | |March_31___________|_________________|______________861.7|_______________790.6|

A similar development to 2016 is expected on the global firefighting markets in
2017. Above all demand is currently being driven by countries with continuous procurement or elevated security requirements following natural or terrorist disasters.

Development of revenues and earnings The Rosenbauer Group generated revenues of EUR 181.9 million in the first quarter of 2017 (1-3/2016: EUR 172.0 million). While decreases in deliveries were observed in some Middle Eastern countries, deliveries were on the rise in North America and parts of Europe.
The first three months of the current year once again showed that the first quarter is always significantly weaker in terms of revenues and income. This is partly because the majority of deliveries are usually made in the second half of the year. These seasonal fluctuations over the course of the year are partially leveled out by centrally managed procurement that is not based on government budgets.
In the first quarter, EBIT was down on the previous year at EUR -3.1 million (1-3/2016: EUR 3.4 million). The difference in comparison to the first quarter of the previous year was mainly attributable to low capacity utilization due to the political situation in the Gulf States and the resulting lower coverage of fixed costs at the plants in Leonding, combined with the lack of any highly profitable deliveries and the start-up costs for the platform manufacturer Rosenbauer Rovereto. Consolidated EBT for the reporting period amounted to EUR -2.8 million (1-3/2016: EUR 3.6 million).
Financial and net assets position For reasons specific to the industry, the structure of the statements of financial position during the year is characterized by high working capital. This is due to the turnaround times, lasting several months, for vehicles in production. In addition, the high intra-year level of total assets of EUR 678.5 million (March 31, 2016: EUR 687.9 million) is attributable to the increase in property, plant and equipment financed by equity.
As a result of the upcoming delivery volume in the current year, inventories rose to EUR 211.1 million in the reporting period (March 31, 2016: EUR 204.2 million), while construction contracts were down year-on-year at EUR 73.8 million (March 31, 2016: EUR 101.2 million) due to changes in capacity utilization. Current receivables were kept at the previous year's level at EUR 183.7 million (March 31, 2016: EUR 179.1 million). The Group's net debt (the net amount of interest-bearing liabilities less cash and cash equivalents and securities) decreased yearon- year to EUR 227.4 million (March 31, 2016: EUR 262.0 million).
Owing to the high level of working capital - due to high customer receivables - the intra-year cash flow from operating activities was still negative at EUR -49.7 million (1-3/2016: EUR -53.6 million). An improvement in the cash flow from operating activities is expected by the end of the year.
Outlook The uncertainty regarding the development of the firefighting markets has increased tangibly in recent months. Geopolitical tension and the low price of oil could affect growth on certain markets in 2017 as well. Overall, however, stable development in global demand for firefighting technology is assumed.
With a strong market presence, geographically balanced business, its broad portfolio, technology leadership and financial strength, Rosenbauer is well placed to take advantage of these opportunities for profitable, long-term growth. It will continue to focus on efficiency enhancement and cost reduction so as to ensure that the intended growth can be implemented on a solid financial basis. Despite the lower capacity utilization at the beginning of the year due to project effects and the sustained margin pressure in the developed markets in addition to the above factors, management is aiming to keep revenues and earnings at the previous year's level.
end of announcement euro adhoc

company: Rosenbauer International AG Paschingerstrasse 90 A-4060 Leonding phone: +43(0)732 6794 568 FAX: +43(0)732 6794 89 mail: ir@rosenbauer.com WWW: www.rosenbauer.com sector: Machine Manufacturing ISIN: AT0000922554 indexes: WBI, ATX Prime

stockmarkets: free trade: Berlin, Stuttgart, official market: Wien language: English
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