029 Group SE

Earnings Release • Oct 29, 2001

News Details

Ad-hoc | 29 October 2001 09:32

Phoenix AG english

Interim Report dated Sept. 30, 2001: Phoenix AG reported record revenues Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Performance for the first nine months of the current business year once again exceeded expectations. Revenues came to EUR 832.1 million, up 20.6%. Earnings before interest and taxation rose to EUR 27.2 million from EUR 26.7 million for the previous year. This resulted in an EBIT margin of 3.3% as compared with 3.9% a year ago. The decrease in the EBIT margin was caused by persistently high prices for raw materials, which cannot be completely passed on to customers. In addition, earnings were negatively impacted by high development expenses and restructuring costs incurred in the first half of the year. Both the companies core activities, which include Comfort Systems, Conveyor Systems and Fluid Handling, and its other activities contributed to the overall improvement in revenues. Core activities accounted for revenues in the amount of EUR 729.0 million, up 21% from the previous year, and other activities for revenues in the amount of EUR 103.1 million, up 18.0%. Segment information: Comfort Systems: Revenues EUR 372.0 million (+10.6%), EBIT EUR10.0 million (- 30.6%) of which Comfort Systems Automotive: Revenues EUR 314.4 million (+10.6%) and Comfort Systems Traffic Technology: Revenues EUR 57.6 million (+10.8%). Fluid Handling: Revenues EUR 255.5 million (+40.4%), EBIT EUR 19.3 million (+58.2%) of which Fluid Handling Automotive: Revenues EUR 159.0 million (+37.8%) and Fluid Handling Industry: Revenues EUR 96.5 million (+44.9%). Conveyor Systems: Revenues EUR 101.5 million (+20.1%), EBIT EUR 6.9 million (+102.9%). Other business units: Revenues EUR 103.1 million (+18.0%), EBIT EUR -2.3 million (- 169.7%). Outlook: Due to different variables such as the ramifications of the terrorist attacks in the U.S.A., the future development of prices for raw materials and the deterioration in automobile sales, it is extremely difficult for Phoenix AG to make prognoses for the rest of the year and has therefore decided to refrain from making any statements about the future for the time being. end of ad-hoc-announcement (c)DGAP 29.10.2001 ——————————————————————————– WKN: 603100; Index: MDAX Listed: Amtlicher Handel in Frankfurt, Berlin, Hamburg, Düsseldorf und München; Geregelter Markt in Bremen; Freiverkehr in Stuttgart 290932 Okt 01