Press Releases

Bologna, 13^th November 2008 - 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 and RFID (radio frequency identification) systems - today approved the quarterly interim report as of 30 September 2008. 

Consolidated sales revenues of € 284.3 million (mn), down by 4.4% vs. € 297.5 mn in the same period in the previous year. With constant exchange rates Euro/Usd, compared to 2007, the growth would have been approx. 1%. 

EBITDA of € 37.4 mn (+1.4% vs € 36.9 mn at 30^th September 2007) and EBITANR of € 28.8 mn (+3.5% vs. € 27.9 mn for the same period in the previous year). 

Consolidated net profit of € 16.6 mn improved considerably in the first nine months of the year (+44% vs € 11.5 mn at 30^th September 2007). 

In the third quarter of the year, consolidated revenues amounted to € 90.8 mn (down by 8% in comparison to € 98.6 mn in 3Q07); with constant exchange rates Euro/Usd, the reduction would have been equal to approx. 4%. EBITDA of € 12.1 mn (+9% vs € 11.1 mn in 3Q07) and EBITANR* of € 9.2 mn (+13% vs. € 8.1 mn in 3Q07). 

The separate business Division sales (including intersegment sales) and segment results (before non-recurring costs/revenues and depreciation and amortization due to acquisitions) at 30^th September 2008, are listed below:

Unfortunately, reliable reclassification of 3Q07, on the basis of the new Divisions of the Group, was not possible. 

At 30^th September 2008, the net financial position of Datalogic was negative by € 73.9 mn, an increase both in comparison to its position at 31^st December 2007 (negative by € 62.5 mn) and at 30^th September 2007 (negative by € 67 million). 

We would however point out that, in the first nine months of the year, treasury shares were bought for approximately € 19 mn. If treasury shares were included (also counting n. 5,409,981 treasury shares cancelled in May 2008), the net financial position at 30^th September 2008 would be negative by € 26.7 mn. In addition dividends were paid for € 4 mn. 

Lastly, please note that the Quarterly Report at 30 September 2008 is unaudited. 

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In addition, the Company informs that today the acquisition by Datalogic Automation S.r.l. of Datasensor S.p.A., Italian company leader in the design, production and marketing of photoelectric sensors and devices for the industrial automation sector, has been completed and payment of the second instalment and balance, for € 13.7 mn, has been made. 

The payment of the first instalment, for € 31.3 mn, was made on 3^rd October upon signature of the contract. 

In this regard, we would like to recall that the deal is worth a total amount of € 45 million (Equity Value), appropriate price determined with the corroboration of an independent expert appraisal - KPMG Advisory S.p.A (required as the deal is between related parties).

As regards the valuation of the acquisition price, we would like to point out that the Datalogic S.p.A. Board of Directors unanimously approved said price, with the abstention of the Directors that have interests in potential conflict with those of the Company. 

The acquisition will be mainly financed via use of bank borrowing (up to a maximum of € 40 million) and available financial resources. 

The principal consolidated financial results for 2007 are reported below:

It is pointed out that, as a consequence of the acquisition, no change is envisaged in the remuneration of the directors of Datalogic SpA and/or of its subsidiaries.  

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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.