RENK Group AG

Earnings Release • Feb 10, 2005

News Details

Ad-hoc | 10 February 2005 08:12

Renk AG successful in 2004, too

Ad hoc announcement §15 WpHG Earnings Release Renk AG successful in 2004, too Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— In a stable economic environment, RENK succeeded in inching up its 2004 earnings and sales from the prior-year magnitude. At EUR21 million, earnings before interest and taxes (EBIT) climbed EUR1 million, sales rising to EUR272 million (up by EUR5 million). Since the contract for a vehicle transmission program was postponed into 2005, the order intake of EUR264 million fell some 20 percent short of the year before. With a solid order backlog of EUR609 million at December 31, 2004 (down from EUR639 million), RENK enters the new fiscal year well braced, 2005 promising further sales increases and earnings at a high level if the economy stays healthy. Earnings per share amount to EUR1.67 (up from EUR1.59). It will be proposed to the annual stockholders’ meeting to once again distribute a cash dividend of EUR1.20 per share for fiscal 2004. The stock repurchase option allowed by the stockholders’ meeting was not exercised in 2004. Assuming the favorable economic trend to continue, fiscal 2005 should see a return to the order intake levels of previous years. Although a strong euro and further commodity price rises would take their toll on earnings, the tall order backlog is a solid launching pad for repeating the consistent performance at the high levels achieved. RENK Aktiengesellschaft The Executive Board Renk AG Gögginger Str. 73 86159 Augsburg Deutschland ISIN: DE0007850000 WKN: 785000 Listed: Amtlicher Markt in München; Freiverkehr in Berlin-Bremen, Frankfurt, Hamburg und Stuttgart End of ad hoc announcement (c)DGAP 10.02.2005 100812 Feb 05