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Datalogic (Star: dal.mi): Board of Directors approves half-interim report as of 30th June 2009

Strong growth in EBITDA, €4.3 million in the second quarter (negative by € 515 thousand in the first quarter 2009).

The company continued investments in R&D (€ 13.6 million, 9.1% on sales).

The reorganization plan has been completed and will permit cost savings amounting to over €25 million.


Bologna 5th August 2009 –  The Board of Directors of Datalogic S.p.A. - a company listed in the Star segment of the Milan Stock Exchange and a leader in the market for barcode readers, data collection mobile computers, RFID (radio frequency identification) systems and photoelectric devices – today approved the half-year interim report as of 30 June 2009 (1H09). 

Results increased in the second quarter of the year, compared to the first three months of 2009: consolidated revenues amounted to € 76 mn (+4% in comparison to € 73.1 mn in 1Q09), EBITDA of € 4.3 mn (negative by € 515 thousand at 31st March 09) and EBITANR of € 629 thousand (negative by € 4.3 in 1Q09).

Mauro Sacchetto, Chief Executive Officer of Datalogic SpA, commented: “We have worked very hard in order to improve our performance compared to the first quarter and to lay the foundations so that upcoming quarters will be more positive”.

1H09 ended with consolidated sales revenues of € 149.1 million (mn), down by 23% vs. € 193.6 mn in the same period in the previous year (1H08).

EBITDA (including non-recurring costs) amounted to € 3.8 mn (€ 25.4 mn at 30th June 2008) and EBITANR1 negative by € 3.4 mn (€19.6 mn for the same period in previous year).

The consolidated business result for the period showed a net loss of € 14.5 mn (net profit of €11.8 mn at 30th June 2008).

It should be highlighted that, during the first six months of 2009, a reorganization plan has been completed that it will permit the adjustment of the operating costs structure according to fluctuations in demand (down by 23% in comparison to last year). In summary, the cost savings for the Group will amount to over €25 million per year.

In the second quarter, all the restructuring costs, planned for this year and amounting to €7.9 mn, have been accrued.

The separate business Division sales (including intersegment sales) and segment results (before non-recurring costs/revenues and depreciation and amortization due to acquisitions) for the first half of 2009, are listed below:

Divisions   Sales   Segment results
Datalogic Mobile    30.9    (1.8) 
Datalogic Automation   32.5    (4.7) 
Datalogic Scanning   71.5   (0.1) 
Informatics   14.5    1.4 
Datalogic S.p.A.   6.6    1.8 
Adjustment   (6.9)    0
January - June 2009   149.1   (3.4) 





Once again during 1H2009 the company continued to pay close attention to R&D activities investing approx. € 13.6 mn (9.1% of sales).

At 30th June 2009, the net financial position of Datalogic was negative by € 120 mn, an increase both in comparison to its position at 31st December 2008 (negative by € 106.9 mn) and at 30th June 2008 (negative by € 75.9 million).
It should be highlighted that, in the first half of the year, bonus/year and long term incentives and dividends were paid for approx. € 9.4 mn and € 2 mn, respectively.

The company also continued not to burn operating cash flow (excluding non-recurring outflows) despite the persistent critical conditions of the market and the strong decrease in demand.

The Board of Directors also appointed Mr. Elserino Piol as President of the Compensation Committee.

The auditing activity for the half-year interim report has not yet been completed and the audit report will be available within the deadlines set at law.

Lastly, please note that the half-year interim report at 30th June 2009 is available upon request at the registered office of Datalogic S.p.A. and at the offices of Borsa Italiana S.p.A., and it can also be consulted on the Company’s web site www.datalogic.com (Investor Relations section).

The manager responsible for preparing the company’s financial reports - Dott. Marco Rondelli – declares, pursuant to paragraph 2 of Art. 154-bis of the Testo Unico della Finanza, that the accounting information contained in this press release corresponds to the document results, books and accounting records.