04.12.2013 Funkwerk AG  DE0005753149

DGAP-News: Funkwerk AG divests control and signalling technology

DGAP-News: Funkwerk AG / Key word(s): Disposal
Funkwerk AG divests control and signalling technology

04.12.2013 / 14:23


Funkwerk AG divests control and signalling technology

- Scheidt & Bachmann GmbH set to take over Funkwerk operations in Kiel and
Malmö subsidiary

- Further strategic focus on core segments 

- 2013 sales and earnings forecast adjusted

Kölleda, 4 December 2013 - Funkwerk AG is set to sell its Kiel operations
along with its Swedish subsidiary Funkwerk Information Technologies Malmö
AB in a deal effective 31 December 2013, 24:00. Divesting its complete
railway control and signalling technology business, previously part of
Traffic & Control Communication (TCC), Funkwerk has set up Schienenverkehr
System Technik GmbH (SST GmbH) as a new company to pool all assets of the
Kiel site along with the shares of the Swedish subsidiary. The shares of
SST GmbH have been bought by Scheidt & Bachmann GmbH, Mönchengladbach, a
supplier of railway signalling technology for more than 100 years. The
purchase price has not been disclosed.

Execution of the contract is subject to the usual reserve of conditions
precedent. The Executive Board of Funkwerk AG expects all conditions to
occur and approval by the banking consortium to be given by the end of May

Funkwerk AG has opted to sell its business unit as a further step in the
strategy to focus on its core segments. As part of the TCC segment,
operations control and signalling technology had very few technical links
to other operations in this segment, which primarily include stationary and
mobile information and communication systems for railway operations, and
therefore little synergistic potential. A further fact bearing on the
decision to sell the unit is said to be the current consolidation of the
market for signalling technology in which Funkwerk holds a relatively minor
share with an annual sales volume of around EUR 15m. The strategic approach
of its new owner, in contrast, presents good prospects for Kiel and Malmö
to scale up operations, and covers the prerequisites for growth in the
Scheidt & Bachmann group.

By the same token, the sale will reduce the commitment of resources within
the Funkwerk group and thereby improve its financial situation. In the
first three quarters of 2013 the divested companies generated sales of
around EUR 10m, with operating loss of around EUR 3m resulting primarily
from substantial development costs incurred for signalling technology in
the passenger transport sector.
Following the sale, Funkwerk predicts adjusted group sales of its continued
operations to range at over EUR 100m in fiscal 2013, with positive group
earnings before restructuring and impairment costs estimated at just under
EUR 1m.

For further information please contact:
Funkwerk AG
Im Funkwerk 5
99625 Kölleda/Thuringia
Kerstin Schreiber
Tel: +49 (0)3635 458 500
Fax: +49 (0)3635 458 399
E-mail: [email protected]

End of Corporate News


04.12.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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Language:    English                                                   
Company:     Funkwerk AG                                               
             Im Funkwerk 5                                             
             99625 Kölleda                                             
Phone:       +49 (0)3635 600 0                                         
Fax:         +49 (0)3635 600 507                                       
E-mail:      [email protected]                                         
Internet:    www.funkwerk.com                                          
ISIN:        DE0005753149                                              
WKN:         575314                                                    
Listed:      Regulierter Markt in München; Freiverkehr in Berlin,      
             Düsseldorf, Hamburg, Stuttgart; Frankfurt in Open Market  
End of News    DGAP News-Service  
243101 04.12.2013                                                      

WKN Kurs in € Einschätzung Börsenwert in Mio. €
575314 13,100 Kaufen 106,13
KGV 2019e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
14,89 11,65 1,241 -14,61
4,29 13,28 1,37 9,607
Dividende '17 in € Dividende '18e in € Div.-Rendite '17
in %
0,25 0,30 1,91 26.06.2018
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
23.08.2018 16.04.2018
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
3,98% 26,01% 49,71% 80,69%

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