JENOPTIK AG has sold its shares in PVA TePla
With this further disposal of assets not required for operational purposes the Jenoptik Group is consistently focusing on its core competencies in Laser/Optics, Optoelectronics and Mechatronics and thus on its operating business.
Today, JENOPTIK AG has sold its minority stake in the stock exchange listed company PVA TePla AG, Asslar. With this further disposal of assets not required for operational purposes the Jenoptik Group is consistently focusing on its core competencies in Laser/Optics, Optoelectronics and Mechatronics and thus on its operating business. JENOPTIK AG will receive liquidity of more than 20 million euros from the sale of the shares in PVA TePla AG. As planned Jenoptik will use this amount to repay existing liabilities, in particular the remaining liabilities to the minority shareholders of the sold Clean Systems division of about 15 million euros. JENOPTIK AG reaffirms the forecast for the full year 2007 made in August in connection with the publication of the results for the first half year. Besides the positive contribution to the Group from this sale, other special effects that will impact the result are expected. These effects might stem from the Group’s continuing process of focusing on its core business (partially impacting on EBIT), from the early repayment of its fixed-interest bond (effecting the financial result) and the reform of taxation (deferred tax expense). Assuming that the balance of all special effects in the second half of the year would produce a slightly positive EBIT contribution, the Group EBIT might come in at 38 to 42 million euros. If this can not be achieved, the Group EBIT for the year 2007 will be below this range at 32 to 36 million euros, as already announced.
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