029 Group SE

Earnings Release • Nov 14, 2003

News Details

Ad-hoc | 14 November 2003 08:38

Phoenix AG english

Phoenix repeats previous year’s revenue performance Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Revenues for the first nine months of the current financial year reached last year’s level despite disposals. At EUR 848.3 million, revenues were down 0.4% from EUR 851.4 million a year earlier. Earnings before interest and taxation came to EUR 22.5 million as compared with EUR 25.3 million for the first nine months of 2002, which yields an EBIT margin of 2.7% for the year to date as compared with 3.0% a year earlier. Profit for the first three quarters of the current year came to EUR 2.5 million following a loss in the amount of EUR 4.0 million for the first nine months of the year 2002. Segment Information: Comfort Systems: Revenues EUR 406.3 million (+1.0 %), EBIT EUR 9.0 million (-8.2 %) of which Comfort Systems Automotive: Revenues EUR 342.4 million (+0.4 %) of which Comfort Systems Traffic Technology: Revenues EUR 63.9 million (+4.4 %) Fluid Handling: Revenues EUR 239.9 million (-3.7 %), EBIT EUR 22.1 million (+6.3 %) of which Fluid Handling Automotive: Revenues EUR 170.9 million (+5.8 %) of which Fluid Handling Industry: Revenues EUR 69.0 million (-21.1 %) Conveyor Belt Systems: Revenues EUR 98.3 million (-3.2 %), EBIT EUR 4.8 million (-34.2 %) Other Business Units: Revenues EUR 103.8 million (+5.3 %), EBIT EUR -1.5 million Outlook: In view of the recovery of the economy and orders already on the books, it is probably that revenues will equal last year’s performance and that organic growth of 1.4% will compensate for the shortfall in revenues resulting from disposals. One time-expense had a negative impact on operating revenues, and it is therefore unlikely that earnings will exceed last year’s level. Due to a substantial decrease in one-time expense, Phoenix expects to end the year with a profit. The complete interim report with more detailed financial information is available on the Internet at http://www.phoenix-ag.com in the Investor Relations area. end of ad-hoc-announcement (c)DGAP 14.11.2003 ——————————————————————————– WKN: 603100; ISIN: DE0006031008; Index: SDAX Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (Prime Standard), Hamburg und München; Freiverkehr in Stuttgart 140838 Nov 03