Profit Collapse at Frauenthal
Revenues came at € 135.4m, which is 2% less than in the first quarter of 2011. EBIT halved to € 1.8m.
The Austrian automotive component supplier recorded weak results in the first quarter. Revenues declined by 2% to € 135.4m. EBIT was down by 50% to € 1.8m (after € 3.6m). Frauenthal´s net income amounted to € 0.0m after € 3.5m in the reference period. Frauenthal points out that the first quarter was coined by the downward trend in the utility vehicle industry.
Frauenthal´s CEO Hans-Peter Moser is cautiously optimistic for the remaining business year. Moser emphasized to promote Frauenthal´s growth strategy further. After the sale of the industrial honeycomb segment to the Japanese IBIDEN, Frauenthal focuses on the automotive segment. “The strengthening of the liquidity enables the group to enlarge the market leadership in the two remaining segments.”