Hansen Transmissions International NV Trading Update
January 20 2010 - 2:01AM
UK Regulatory
TIDMHSN
Edegem/Antwerp, Belgium - London, UK - 20 January 2010 - 7 am UK
GUIDANCE ADJUSTMENT FOR FINANCIAL YEAR 2010
Since early 2009, the volatility and challenges impacting the near term wind
market have been reflected in Hansen Transmissions International NV ("Hansen" or
"the Company") financial results, most recently in the half year Interim Results
where we commented on our caution resulting from the operating environment
remaining challenging and lacking visibility.
This trend has continued and although the results for Q3 2010 are anticipated to
be in-line with the Company's expectations, Hansen believes the operating
environment to remain challenging for at least the next two quarters, being the
first two quarters of the 2010 calendar year (reporting quarters Q4 2010 and Q1
2011).
In particular, as a result of recent discussions with its customers, Hansen's
expectations for volumes in the last quarter of the financial year 2010, which
historically has been its strongest quarter, have been reduced in order to meet
with customers needs in the short-term.
Consequently, the Company adjusts its revenue guidance from flat revenue for the
full financial year 2010 to a revenue decrease of approximately 15% from the
level achieved for the full financial year 2009. The Company continues to build
on its successful cost reduction measures to minimise the impact on
profitability.
While the order book has seen significant rescheduling, the ongoing dialogue
with our customers continues to suggest some optimism for improving industry
investment from the second half of the 2010 calendar year. We continue to be
well-positioned with our customers and see the issues as predominantly relating
to the wind market as a whole. Our confidence in the medium and longer-term
fundamentals of the wind industry remain.
Hansen will publish its Interim Management Statement for the 3 months period
ended 31 December 2009 on 28 January 2010.
ANALYST AND INVESTOR CONFERENCE CALL
Hansen will host an Analyst and Investor conference call regarding this trading
update
With: Ivan Brems, CEO and Alex De Ryck, CFO
On: Wednesday 20 January 2010 - 8.00 am UK time
Dial-in details: +44 20 3037 9221
Please quote "Hansen" as the event title when joining the call and state your
name and company.
A replay of this conference call will be available
* for twenty-four hours using the following dial-in details +44 20 8196 1998
access PIN 8893785#
* on the Investor Relations section of Hansen's website as from Wednesday
evening 20 January 2010
onhttp://www.hansentransmissions.com/en/reports_publications.html
For further information, please contact
+------------------------------------------------------------------------------+
|Hansen Transmissions International NV |
+-----------------------------------------------------------------+------------+
|Investor Relations |+32 |
|Hans Ooms |3 450 58 62 |
|De Villermonstraat 9 | |
|2550 Kontich - Belgium | |
|hans.ooms.ir@hansentransmissions.com | |
|<mailto:hans.ooms.ir@hansentransmissions.com> | |
|http://www.hansentransmissions.com/en/reports_publications.html | |
+-----------------------------------------------------------------+------------+
+----------------------------------------------------------------------------+
|M:Communications |
+-----------------------------------------------------------+----------------+
|Eleanor Williamson |+44 20 7153 1539|
|Williamson@mcomgroup.com <mailto:Williamson@mcomgroup.com> | |
+-----------------------------------------------------------+----------------+
Financial Calendar - Hansen
FINANCIAL YEAR 2010
12 months period ending 31 March 2010
+--------------------------------------+------------------------------------+
|29 July 2009 |Interim statement Q1 2010 Results |
+--------------------------------------+------------------------------------+
|26 October 2009 |Press Release 1H 2010 Results |
+--------------------------------------+------------------------------------+
|28 January 2010 |Interim statement Q3 2010 Results |
+--------------------------------------+------------------------------------+
|17 May 2010 (*) |Press Release FY 2010 Results |
+--------------------------------------+------------------------------------+
|24 June 2010 |Annual Shareholders' Meeting FY 2010|
+--------------------------------------+------------------------------------+
(*) date subject to final confirmation
About Hansen Transmissions
Hansen Transmissions International NV is an established global wind turbine
gearbox and industrial gearbox designer, manufacturer and supplier, with a
leading position (by MW supplied) in the wind turbine gearbox market. The
company supplies gearboxes to the world's major manufacturers of gear-driven
wind turbines and provides durable gear drives for a wide range of industrial
applications throughout the world. Both Hansen's wind energy and industrial
activities have established dedicated international service networks. In
addition to its principal state-of-the-art manufacturing facilities located in
Flanders, Belgium - i.e. a wind turbine and industrial gearbox plant and a fully
integrated, dedicated wind turbine gearbox manufacturing facility - Hansen has a
production plant for wind turbine gearboxes in Coimbatore, India and an assembly
and testing plant for the Chinese market, located in Tianjin, China. As such,
Hansen plans to increase its wind turbine gearbox manufacturing capabilities,
from 7,300 MW per annum in the financial year 2009 to 14,300 MW, by financial
year 2013. Strong in-house R&D operations maintain Hansen's technological
leadership and the company employs over 2,300 people worldwide.
http://www.hansentransmissions.com/en/
http://www.hansentransmissions.com/en/investorrelations.html
Forward Looking Statements
This press release may include statements that are "forward-looking statements".
In some cases, these forward-looking statements can be identified by the use of
forward-looking terminology, including the terms "believes", "estimates",
"forecasts", "plans", "prepares", "projects", "anticipates", "expects",
"intends", "may", "will", "should" or other similar words. Forward-looking
statements may include, without limitation, those regarding Hansen's financial
position, business strategy, plans and objectives of management for future
operations (including development plans and objectives relating to Hansen's
products) and the wind turbine and gearbox markets. Such forward-looking
statements involve known and unknown risks, uncertainties and other factors
which may cause the actual results, performance or achievements of Hansen, or
industry results, to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements. Such forward looking statements are based on numerous assumptions
regarding Hansen's present and future business strategies and the environment in
which Hansen will operate in the future. These forward looking statements speak
only as of the date of this press release. Hansen expressly disclaims any
obligation or undertaking to release publicly any updates or revisions to any
forward-looking statement contained herein to reflect any change in Hansen's
expectations with regard thereto or any change in events, conditions or
circumstances on which any such statement is based.
#
[HUG#1375100]
Press Release (PDF): http://hugin.info/139494/R/1375100/337284.pdf
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