Funkwerk AG

Earnings Release • Jul 29, 2003

News Details

Ad-hoc | 29 July 2003 07:30

Funkwerk AG english

Funkwerk clearly exceeds sales and profit targets Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Funkwerk clearly exceeds sales and profit targets – With 77.3 million Euro, sales in the first 6 months increased by 70 % as against previous year. – EBIT rose by 141 % to 6.9 million Euro Halfway through the 2003 financial year, Funkwerk AG has already far exceeded its growth targets. According to the final figures now available, the company achieved record figures in both sales and profit. Compared with the same period of 2002, the sales volume increased by more than 70 % to 77.3 million Euro (end of June 2002: 45.4 million Euro), thus exceeding the projections by a good 35 %. Still better proved to be the development of the operating result (EBIT) with a plus of 141 % to 6.9 million Euro (2002: 2.9 million Euro). This topped the target by 62 %. The half-yearly net profit grew from 2.1 million Euro (2002) to 4.4 million Euro. The net earnings per share as at the end of June improved to 0.61 Euro (end of June 2002: 0.29 Euro). From April to June, Funkwerk was able not only to maintain its dynamic growth, but once again to increase it. Sales in that quarter gained 41 % to record 45.3 million Euro, with the quarterly operating result (EBIT) increasing by 76 % to 4.4 million Euro. In the first six months of 2003, the incoming orders reached a new record of 73.8 million Euro (2002: 48.8 million Euro). In essence, this can be put down to the contracts awarded for mobile radio terminals for European railway companies and the growing number of orders from the automobile industry. The orders on hand as at 30 June 2003 amounted to a total of 86.1 million Euro (end of June 2002: 109.3 million Euro). It must be taken into account here that some of the major contracts from the previous years have now, in large parts, been executed. Against this background and due to the take-over of BinTec Access Networks GmbH with effect from 1 May 2003, Funkwerk has raised its sales and profit targets for 2003: accordingly the company anticipates sales of around 150 million Euro and an EBIT of more than 12 million Euro. The complete half-yearly report will be published on 7 August. end of ad-hoc-announcement (c)DGAP 29.07.2003 ——————————————————————————– WKN: 575314; ISIN: DE0005753149; Index: NEMAX 50 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 290730 Jul 03