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Dow Jones Newswires |
| 26 10. 2011 5:58 Uhr |
DJ DGAP-Adhoc: Celesio AG: Earnings forecast for 2011 to be adjusted - Celesio launches Operational Excellence Programme - Management board examining sale of Manufacturer Solutions divisionDJ DGAP-Adhoc: Celesio AG: Earnings forecast for 2011 to be adjusted - Celesio launches Operational Excellence Programme - Management board examining sale of Manufacturer Solutions division Celesio AG / Key word(s): Miscellaneous 26.10.2011 06:58 Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by DGAP - a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. =-------------------------------------------------------------------------- - Earnings forecast for 2011 to be adjusted - Celesio launches Operational Excellence Programme - Management board examining sale of Manufacturer Solutions division Stuttgart, 26 October 2011. The Celesio Management Board finds itself compelled to adjust the previous earnings forecast for the group of around 600 million euro EBITDA for the current 2011 fiscal year. The company now expects to achieve earnings (EBITDA) of at least 575 million euro before one-off expenditures. The Celesio Management Board has initiated an Operational Excellence Programme over several years, which will have a positive impact on earnings of 2012 and may lead to one-off expenditures of up to 100 milion euro, that will essentially have an impact already in 2011. Furthermore, the management board has decided to examine the sale of the Manufacturer Solutions division, in particular Movianto and Pharmexx. The decrease in earnings expectation before one-off expenditures is in particular caused by further regulatory interventions in the United Kingdom and fiercer competition in important markets, in France and Germany, for example. In order to halt the declining earnings development of the past years and build the foundation for a strategic and structural realignment, Celesio has initiated an Operational Excellence Programme over several years. It will contribute towards a stabilisation of earnings in the coming year 2012 and in the subsequent years achieve an additional annual reduction in pressure in the sum of at least 50 million euro. These short-term measures include e.g. halting projects with high start-up losses, reducing the losses when setting up new pharmacies in Sweden as well as reducing fixed costs in all large administrations within the Celesio Group. Central and longer-term projects established here are the group-wide bundling and optimisation of purchasing activities and of the supply chain and the branch network in wholesale. As part of the strategic realignment, the management board has decided to examine to what extent further development outside of the Celesio Group would offer the companies Movianto and Pharmexx belonging to the Manufacturer Solutions division better prospects of success, and therefore whether a sale is expedient. Further information about the strategic realignment will be announced by the Celesio Management Board today. According to preliminarily figures, Celesio achieved cumulative EBITDA of approximately 410 millionen euro in the first three quarters, with slightly declining revenue development. The third quarter contributed to this with approximately 140 million euro. Contacts: Investor Relations Thomas Frings, Celesio AG, +49 (0)711.5001-1188 investor@celesio.com Media Dr. Jens Schreiber, Celesio AG, +49 (0)711.5001-380 media@celesio.com Rainer Berghausen, Celesio AG, +49 (0)711.5001-549 media@celesio.com 26.10.2011 DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de =-------------------------------------------------------------------------- Language: English Company: Celesio AG Neckartalstr. 155 70376 Stuttgart Germany Phone: +49 (0)711 5001-735 Fax: +49 (0)711 5001-736 E-mail: investor@celesio.com Internet: www.celesio.com ISIN: DE000CLS1001 WKN: CLS100 Indices: MDAX Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime Standard), München, Stuttgart; Freiverkehr in Hamburg, Hannover; Terminbörse EUREX End of Announcement DGAP News-Service =-------------------------------------------------------------------------- (END) Dow Jones Newswires October 26, 2011 00:58 ET (04:58 GMT) Social Networks   |