Media Releases

MEDIA RELEASE
28th August 2008

Cavotec MSL Holdings Ltd - Results for announcement to the market

Reporting Period: Six Months to 30 June 2008
Previous Corresponding Reporting Period: Six Months to 30 June 2007
Sales revenue from ordinary activities
Amount: EUR 65,960,537 (NZD 128,788,927)
Percentage change: 5.2%

Profit/(loss) after tax from ordinary activities
Amount: EUR 2,689,093 (NZD 5,250,494)
Percentage change: -17.3%

Profit/(loss) after tax attributable to security holder
Amount: EUR 5,301,340 (NZD 10,350,945)
Percentage change: 64.1%

Net tangible assets per security
This reporting period: 0.162
Previous corresponding reporting period: 0.195

Earnings per share
This reporting period: 0.083
Previous corresponding reporting period: 0.051

Interim/Final Dividend
Final dividend of NZD 0.4 per share paid in March 2008. No interim dividend proposed.
Exchange rate
Average for Profit & Loss: 0.51216
At 30 June 2008 Balance Sheet: 0.4822

Cavotec MSL Holdings Ltd Interim Results as of June 30th, 2008

Dear Shareholder,
Our Group continued to grow in 2008, producing another all-time record for revenues. For the six months ended 30 June 2008, Cavotec MSL achieved a consolidated sales revenue from operations of $66.0 million, compared with $62.7 million for the same period in 2007. This represents a 5.2% increase over last year's turnover, including 2 months of activity from the Dabico group of companies (acquired on 23 April 2008) and without excluding 2007 activity from the Gantrex operations (disposed of on 8 January 2008).

Our order book increased by 16.8% to $44.4 million in June 2008, up from its December 2007 level of $38.0 million. I am very pleased to report that, as of 31 July 2008, our order book stands at a Cavotec MSL record level of $48.8 million, or a full 10.0% higher than June 2008 and 28.4% from where we ended the year in December 2007. Our Operating Profit (EBIT) is consistent with the level of revenue generated through 30 June 2008, amounting to $5.1 million for the six months ended 30 June 2008 (Jan-Jun 2007: $5.7 million).

In line with our disclosure in the 2007 Annual Report, the disposition of Gantrex in January 2008 generated approximately $2.7 million of non-operating income and a non-recurring cash inflow of $6.0 million.

With the additional income from the sale of Gantrex our Net Profit for the period increased to $5.4 million, a 65% increase over June 2007's level of $3.2 million.

Finally, Net Cash Inflows from operations were $3.9 million versus a Net Cash Outflow of $0.2 million during the same period in 2007. Cavotec MSL is pleased to report these results to its investors, and I will now discuss their composition in greater detail.

For further detail, please download the PDF below.
For more information investor@cavotec.com