Ad hoc: New EBIT guidance for 2005
Grevenmacher (Luxembourg), The lower than expected business performance in January and February of this year, which Thiel Logistik reported on already at the Press Conference on March 10, has continued since then.
The Executive Board has therefore revised its estimates. Thiel Logistik now expects an EBIT (IFRS) of € 36 million for fiscal year 2005. Assumptions prior to this were for an EBIT of "€ 50 million + x".
The revised estimate is primarily due to cyclical effects affecting the Automotive and Südkraft business units in particular, and to well below average development in the Furniture unit resulting from start-up difficulties with a new furniture distribution center.