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Facts
EWAB consolidated turnover for 2009 reached € 25,5 million which is significantly lower than previous year. The back log from the all time high of new orders of more than €49 million during 2008 did compensate for the weak market during 2009 and made it possible to upgrade capacity while maintaining EBITDA positive.
EWABs balance sheet remains strong with positive cash flow and equity of €19 million (equity ratio 70%).
Many customer projects were put on temporary hold during 2009, resulting in a dramatic drop in new orders throughout the whole automation and machine tool industry. EWAB is currently experiencing a strong increase in market activity with unusually tight delivery requirements.
Due to our strong financial situation we have opened two new Project Centers during 2009. One in Cordoba, Argentina and one in Deggendorf, South Germany. We have also upgraded; all the CAD systems, the drawing and document management systems, the CRM system and the ERP system. Internal education and training in these tools, as well as group wide training in project management has taken place.
We have also taken the opportunity to speed up product development especially for drag & drop modularity and plug & play functionality. EWAB Flow Technology systems have become even more re-usable and re-buildable with the objective to safe guard our customers investments.
* Forecast
