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| Zumtobel reports first quarter results Austrian lighting equipment maker Zumtobel Group said its consolidated revenues fell 12% to EUR 278.6 million in the first quarter (May – July) (prior year: EUR 316.7 million). Along with the global economic crisis, negative foreign exchange effects primarily related to the weak British Pound continued to impact on revenues. After adjustment for these effects, the drop in sales amounted to 10.2%. Earnings before interest and taxes (EBIT) reached EUR 19.2 million (PY: EUR 27 million, -28.9%). First-quarter EBIT was strongly influenced by non-recurring license fee income on the one hand and negative restructuring charges on the other, particularly in connection with the efficiency programme Excellerate. The EBIT margin attained a respectable 6.9% (PY: 8.5%) given the difficult business environment. Net income for the first quarter totalled EUR 10.2 million (PY: EUR 14.3 million; -28.7%). write your comments about the article :: © 2009 Construction News :: home page |