RUAG: Satisfactory financial year in 2008, strategic investments made

02.04.2009, Berne. The RUAG technology group posted a satisfactory business result for 2008. Net sales grew by 9% to CHF 1.5 billion, while EBIT stood at CHF 57 million. Startup costs for future projects and structural changes led to a 25% decline here.

The acquisition of Saab Space and Austrian Aerospace was a milestone in RUAG's history. RUAG is now a major supplier of products for the European space industry with sites in Switzerland, Sweden and Austria. In projects such as Galileo, RUAG can now offer its customers more services from a single source, thus considerably reinforcing its competitive position. However, the acquisition is only having a partial effect on the 2008 business result.

In 2008, RUAG's sales in Aerospace & Technology and in Defence & Security rose by 9% to CHF 1.537 billion (2007: CHF 1.409 billion). The business areas Space, Land Systems and Small-Calibre Ammunition all contributed to the sales increase.

Earnings before interest and taxes (EBIT) amounted to CHF 57 million (CHF 76 million). The 25% decline compared to the previous year can be attributed to startup costs for future projects, the currency situation with the US dollar, increased raw material and energy prices, the downturn in the automotive and semiconductor industries, and, in particular, structural changes in the simulation business.

Accounting for 36% of total sales (previous year: 34%), the DDPS and thus the Swiss Armed Forces remains RUAG's largest single customer. Almost 90% of RUAG's turnover is generated in Switzerland and Europe.

At 54% (49%) and 46% (51%) respectively, the defence and civilian businesses remain roughly equal in their share of total sales.

Research and development expenditure has risen continuously over the last few years, amounting to CHF 123 million last year - an increase of 46% over 2007 (CHF 85 million).

In 2008, RUAG employed an average of 6,310 staff - 4% more than in the previous year. Trainees account for almost 10% of RUAG's workforce in Switzerland.

Despite unfavourable currency effects on the balance sheet date, the technology group's balance sheet remained healthy with a solid equity ratio of 48% (56%) and a return on equity of 7% (10%).

RUAG: Outlook for 2009

On the whole, RUAG has a good starting foundation for 2009, thanks to a strong order book and its broad base in various markets with differing cycles. The economic slowdown is having isolated effects on RUAG's civilian business, namely aero engine structure manufacturing, civil aircraft maintenance and components for the automotive and semiconductor industries. The military and government agencies market and the space market appear largely stable.

Über RUAG AG:

Die RUAG ist eine Aktiengesellschaft mit Holdingsitz in Bern. Unsere Produktionsstandorte sind in der Schweiz, in Deutschland und in Schweden. Als Technologiekonzern konzentrieren wir uns auf drei Märkte:

- Aviation & Space - Defence & Security - Ammunition & Products

Als Aktiengesellschaft nach privatem Recht bekennen wir uns zum Wettbewerb und zur sozialen Marktwirtschaft.

Wir sind ein führender Lieferant und Integrator von Systemen und Komponenten für die zivile und militärische Luft- und Raumfahrt. Unsere Schwerpunkte liegen hier im Flugzeug-Strukturbau sowie im Service und in der Ausrüstung von Flugzeugen und Helikoptern.

Wir sind der industrielle Partner für die technologische Erneuerung und Betreuung der Waffen und Systeme der Schweizer Armee. Wir entwickeln, produzieren und integrieren Waffen-, Führungs-, Kommunikations- und Simulationssysteme für Streitkräfte und den Behördenmarkt. Als Hersteller kleinkalibriger Munition sind wir international führend in den Bereichen Verteidigung, Behörden, Jagd und Sport.

Wir beherrschen Technologien mit hohem Anspruch an Präzision. Unsere Engineeringkompetenz sichert uns die Basis für eine dynamische Rolle in Entwicklung und Produktion.

--- Ende Artikel / Pressemitteilung RUAG: Satisfactory financial year in 2008, strategic investments made ---


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