029 Group SE

Earnings Release • Nov 11, 2004

News Details

Ad-hoc | 11 November 2004 11:05

Phoenix still a success story

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Phoenix still a success story Despite asset sales and the tense economic situation in Germany, turnover for the first nine months was above the previous year. Turnover amounted to EUR 760.5m after EUR 706.8m (+7.6%). EBIT accounted for EUR 51.3m after EUR 24.0m in the previous year (+113.8%). This represents an EBIT-margin of 6.7% (previous year 3.4%). Net profit for the first nine months amounted to EUR 29.6m after EUR 3.2m in the same period of the previous year. In detail: Comfort Systems: Turnover EUR 279.6m (+7.7%), EBIT EUR 10.0m (+51.5%) thereof Comfort Systems Automotive: Turnover EUR 212.5m (+11.2%) thereof Comfort Systems Traffic Technology: Turnover EUR 67.3m (-1.8%). Fluid Handling: Turnover EUR 252.6m (+5.5%), EBIT EUR 33.6m (+27.8%) thereof Fluid Handling Automotive: Turnover EUR 185.2m (+8.2%) thereof Fluid Handling Industry: Turnover EUR 68.9m (-1.6%). Conveyor Belt Systems: Turnover EUR 108.4m (+7.1%), EBIT EUR 5.6m (+12.0%). Other Business Units: Turnover EUR 201.8m (+4.9%), EBIT EUR 5.5m (previous year EUR -5.3m) Outlook: The operating business of Phoenix Group in the first three quarters was running very successfully. Although developments of raw material prices and seasonal effects burdened the profit dynamics in the third quarter, Phoenix expects an improvement of turnover and profits on an operating level in the fourth quarter compared to the same period of the previous year. However, it appears that in consequence of the takeover by Continental AG, considerable charges might burden full year profits, already in the current fiscal year. Please find the complete quarterly report with substantial financial data in the internet at http://www.phoenix-ag.com in the section Investor Relations. end of ad-hoc-announcement (c)DGAP 11.11.2004 ——————————————————————————– WKN: 603100; ISIN: DE0006031008; Index: SDAX Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (Prime Standard), Hamburg und München; Freiverkehr in Stuttgart 111105 Nov 04