VIENNA, Sept 5 Austrian lighting group Zumtobel
maintained its outlook that it can boost its sales and
underlying operating margin this fiscal year as it tries to get
its struggling components business back on track.
Zumtobel, which is being dropped from Austria's blue-chip
ATX index as of Sept. 24, posted a decline in
first-quarter operating earnings bang in line with market
It said in its results statement on Wednesday that it
expected stable business at its lighting segment over the months
ahead, while performance at its components segment would hinge
on market acceptance of new products.
"Against this backdrop, the management board confirms the
previously communicated guidance for the 2012/13 financial year,
which calls for an improvement in group revenues (2011/12:
1,280.3 million euros) and in the adjusted EBIT margin (2011/12:
2.7 percent)", it said.
First-quarter earnings before interest and tax fell nearly
30 percent to 12.8 million euros ($16.1 million), matching the
average estimate in a Reuters poll of analysts.
Sales dipped 0.9 percent to 323.4 million euros.
In June Zumtobel abandoned its mid-term forecast for 10
percent annual revenue growth, citing a worsened economic
environment, and slashed its dividend after profit plunged.
The Dornbirn-based group is the European market leader in
luminaires and the global number four in the components
business, which makes lamp control gear, lighting management
systems and LED modules.
($1 = 0.7961 euros)
(Reporting by Michael Shields; Editing by Helen