Funkwerk AG

Earnings Release • May 8, 2003

News Details

Ad-hoc | 8 May 2003 07:30

Funkwerk AG english

Funkwerk accelerates growth in sales and operating result Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Funkwerk accelerates growth in sales and operating result – Sales of EUR 32.0 million in the first quarter exceed previous year by 50% – EBIT more than tripled to reach EUR 2.5 million In the first quarter of 2003, Funkwerk AG continued to accelerate its growth rate in regard to sales and operating result. Compared with the previous year, its sales volume rose by more than 50% to record EUR 32.0 million (end of March 2002: EUR 21.2 million), while the operating result (EBIT) grew even stronger. With EUR 2.5 million, it more than tripled as against the same quarter of the previous year (EUR 0.7 million). The annual net profit increased from EUR 0.6 million to EUR 1.6 million. Accordingly, the net earnings per share rose to EUR 0.23 (first quarter of 2002: EUR 0.09). According to the final figures of the quarterly report, Funkwerk managed to exceed its sales target by more than 15%, with operating sales projections being exceeded by more than 40%. All of its business segments were able to make a positive earnings contribution. The orders on hand of Funkwerk as at the end of March amounted to EUR 82.8 million (previous year: EUR 109 million), with two large-scale orders being executed according plan. Of the total orders on hand, EUR 55.7 million will still be turned over this year. With this and with the sales already generated, 70% of the planned annual sales are already covered. The incoming orders in the first quarter of 2003 reached EUR 23.3 million (previous year: EUR 27.6 million). Further large-scale orders are expected to materialise in the next few months. The company anticipates sales for the 2003 financial year to record EUR 126 million, with an EBIT of EUR 11 million. end of ad-hoc-announcement (c)DGAP 08.05.2003 ——————————————————————————– WKN: 575314; ISIN: DE0005753149; Index: NEMAX 50 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 080730 Mai 03