ZMDI expects further growth in anniversary year 2011

Celebrating its 50th anniversary this year the company reckons 2011 will provide a generally positive climate and forecasts revenue growth between 5 to 10 percent in its first forecast for the full year. Earnings (EBIT) are expected to increase above average. Presenting the preliminary figures for fiscal year 2010 the company announced that ZMDI had returned to the pre-economic-crisis level last year and had managed to increase revenues and earnings substantially. In concrete terms this means that in the preceding fiscal year revenues were up by 28 percent against the previous year to EUR 55 million (2009: EUR 43.3 million). Revenues therefore exceeded the previous forecast and came close to the figures of 2008. One key driver for this solid growth was, above all, the strong demand for energy-efficient products and solutions, primarily in the automotive sector. Earnings (EBIT) for 2010 also improved significantly and clocked up around EUR 1 million according to preliminary figures. This is an improvement of more than EUR 5 million against the losses of EUR 4.5 million incurred by ZMDI in the recessionary year 2009. At the end of 2010 ZMDI employed around 280 members of staff. Thilo von Selchow, CEO of ZMDI: "ZMDI is looking back on a successful year 2010. Even though some economic uncertainties remain, today we can say that we have overcome the effects from the recession year 2009 and are once again picking up on the revenue levels of the pre-economic-crisis years. We look very confidently ahead to our anniversary year 2011. Although the strong growth dynamic in our industry has slightly ebbed off, as was expected, we still can perceive a generally positive environment. 2011 got off to a good start, so that all in all we assume from today's perspective that we will continue improving revenues and earnings in the current year. For ZMDI one vital topic for the future will be 'power management'. Here we are working on new high-performance products that will create even more savings opportunities for electric power supply." Steffen Wollek, CFO of ZMDI: "To safeguard future growth over the long term with the new developments in the 'power management' sector, we are considering various financing options given the current development of interest rates. We are looking at all options, ranging from equity, credit and mezzanine financing through to placing a bond on the capital market."