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Article: BERU Group Presents Financial Results for Q1 2009.
- Article from:
- Journal of Transportation
- Article date:
- June 6, 2009
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Due to the worldwide slump of automotive markets, the BERU Group, based in Ludwigsburg, posted a 38.4% decline in first-quarter revenue to EUR 76.3 million (Q1 2008: EUR 123.9 million). EBIT (earnings before interest and taxes) decreased by 72.8% from EUR 15.6 million to EUR 4.2 million. The actions for the reduction of costs and improvement of efficiency that have been consistently implemented since the end of 2007 allowed BERU to achieve a low level of earnings.
Developments in the sales segments
Most of the revenue decline resulted from BERU's direct sales to automobile manufacturers. The OEM segment's revenue amounted to EUR 44.8 million, which is ...