RENK Group AG

Earnings Release • Aug 5, 2004

News Details

Ad-hoc | 5 August 2004 08:22

RENK raising H1 sales and order intake

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– RENK raising H1 sales and order intake RENK AG: Interim report on the six months (H1) ended June 30, 2004 Augsburg-based RENK AG, a world-renowned specialist in large and special-purpose gear units, further increased its business volume in the first six months of 2004, driving up order intake to EUR117 million and sales to EUR121 million (up 8 and 10 percent, respectively). Earnings before taxes (EBT) came to EUR5.5 million (down by 11 percent). As of April 1, 2004, Testing Rigs was spun off into RENK Test System GmbH, RENK AG being its sole shareholder. RENK Test System GmbH (annual sales of about EUR12 million, 58 employees) is not consolidated in the RENK subgroup`s financial statements. Despite the spin-off of RENK Test System GmbH, we believe that we can re-achieve or exceed the prior-year sales level of EUR267 million. Since the award of megacontracts to Vehicle Transmissions is hard to budget or schedule, it remains to be seen if order intake for 2004 follows the sales trend. We expect 2004 to produce an EBT somewhat below the previous year`s EUR19 million. RENK Aktiengesellschaft The Executive Board end of ad-hoc-announcement (c)DGAP 05.08.2004 ——————————————————————————– WKN: 785000; ISIN: DE0007850000; Index: Listed: Amtlicher Markt in München; Freiverkehr in Berlin-Bremen, Frankfurt, Hamburg und Stuttgart 050822 Aug 04