Fiscal year 2006/07: Schuler posts consolidated net profit of EUR 13.9 million

Schuler AG is publishing its first consolidated balance sheet for Schuler and M¨¹ller Weingarten today for the fiscal year 2006/07, which ended on September 30, 2007. The annual financial statements include the figures for M¨¹ller Weingarten¡¯s abbreviated fiscal year (April 1, 2007, to September 30, 2007). A comparison with the disclosed Schuler Group results as of September 30, 2006, prior to the M¨¹ller Weingarten acquisition, has thus only limited relevance.

Consolidated sales amounted to € 725.0 million, compared with € 563.4 million in the previous year. New orders totaled € 835.8 million, as opposed to € 515.7 million in the previous fiscal year.

In Germany, the Group generated sales of € 262.9 million compared with € 161.2 million in the previous year, while in the rest of Europe sales totaled € 158.1 million (prior year: € 149.1 million). In America, sales amounted to € 205.4 million, following € 182.2 million in the previous year, and in Asia € 94.6 million compared with a prior-year figure of € 69.2 million. The proportion of Group sales generated outside Germany amounted to 63.7%, compared with 71.4% in the previous year. This is mainly due to the fact that M¨¹ller Weingarten has traditionally always had a much higher percentage of domestic sales than Schuler.

New orders from America totaled € 274.6 million, compared with € 174.2 million in the previous year. New orders from Asian customers amounted to € 104.2 million following € 56.6 million in the previous year. In Germany, the value of new orders reached € 307.9 million compared with a prior-year figure of € 160.3 million. European orders received from outside Germany amounted to € 146.2 million in the period under review. The proportion of new orders received from customers outside Germany amounted to 63.2%, compared with 68.9% in the previous year.

In the past fiscal year, the Schuler Group achieved a positive consolidated result of € 13.9 million. In the previous year, Schuler had posted a loss of € 9.5 million. Earnings before taxes (EBT) amounted to € 27.9 million. The corresponding return on sales rose to 3.8%. This year¡¯s earnings include non-recurring income of around € 31 million from a sale-and-rent-back agreement involving commercial real estate in Göppingen. After adjustment for this one-off effect, however, there was still a positive operating result (EBIT) of € 14.9 million.

In order to strengthen the Group¡¯s equity position, the Board of Management and Supervisory Board of Schuler AG propose that no dividend be paid for the fiscal year 2006/07.

The calendar year 2007 was dominated by the takeover and integration of M¨¹ller Weingarten. The greatly expanded Schuler Group, which will continue to trade under the same name, has developed a specialization strategy to raise efficiency and profitability at all its manufacturing facilities. The strategy formulates clearly differentiated areas of responsibility, a flat organizational structure with short reporting and decision paths, and a centrally managed and highly efficient capacity management system.

CEO J¨¹rgen Tonn states: Schuler has now almost reached the successful completion of its integration process, which will greatly enhance the Group¡¯s efficiency. At the same time, the Group has established the basis for new and profitable growth. All in all, the takeover of M¨¹ller Weingarten has benefited all involved. With an average market share of 35%, Schuler is the global leader in its particular sector. Annualized, the Group currently generates sales of over € 900 million world-wide with some 5,700 employees.

In the first quarter of the new fiscal year, Schuler set a new record in orders received: over € 400 million. There was strong growth in demand in the divisions Large Mechanical Presses, Standard Presses, Automation and Service. Based on these figures, the Board of Management of Schuler AG is very confident of achieving further growth in sales and operating profits in the fiscal year 2007/08.