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BRIEF-Schmolz&Bickenbach reports positive FY net income of EUR 50.0 mln
March 12, 2015 / 6:47 AM / 2 years ago

BRIEF-Schmolz&Bickenbach reports positive FY net income of EUR 50.0 mln

March 12 (Reuters) - Schmolz&Bickenbach AG :

* Adjusted EBITDA increased by 46.4 percent to 261.7 million euros ($276 million) in full year 2014 (2013: 178.8 million euros)

* FY positive net income of 50.0 million euros (2013: -83.7 million euros)

* Earnings expectation for 2015 affected by stronger swiss franc

* FY revenue up 1.9 percent to 3,338.4 million euros

* Proposal is not to distribute a dividend for 2014

* Group's sales volumes in 2015 should roughly match the 2014 level

* Plans to invest more heavily in 2015, with a total volume of around 150 million euros

* EBITDA for 2015 is expected to come in at between 210 million euros and 250 million euros

* Stands by its medium-term goals: from 2016 onwards, intends to generate an adjusted EBITDA of > 300 million euros

* Has resumed discussions on an open-ended selling process for specific distribution units in Germany, Belgium, the Netherlands and Austria

* Affected distribution units belong to the sales & services division, follow a diverging business model and focus on selling third party products Source text - bit.ly/1FdoI5c Source text - bit.ly/1EdCdQD

Further company coverage: ($1 = 0.9490 euros) (Gdynia Newsroom)

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