029 Group SE

Earnings Release • Apr 15, 2003

News Details

Ad-hoc | 15 April 2003 08:40

Phoenix AG english

Revenues remain at previous year’s level Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Revenues remain at previous year’s level At EUR 1,131.6 million as compared with EUR 1,133.7 for the previous year, consolidated revenues repeated last year’s good performance. After restatement to reflect the disposal of both the company’s Italian Evergomma location and its offset blanket activities, revenues showed an increase of 3.6%. Operating results before interest and income tax were up 22.1% from EUR 25.8 million for the previous year to EUR 31.5 million. Higher taxes and high on-time charges resulted in a loss of EUR 7.4 million as compared with a loss of EUR 7.0 million a year ago. Segmental Information: Comfort Systems (CS): Revenues EUR 534.6 million (+5.9%), EBIT EUR 11.2 million (+6.6%) of which CS Automotive: Revenues EUR 454.0 million (+5.6%) of which CS Traffic Technology: Revenues EUR 80.6 million (+7.1%) Fluid Handling (FH): Revenues EUR 335.4 million (-3.1%), EBIT EUR 27.6 million (+2.3%) of which FH Industry: Revenues EUR 117.1 million (-6.2%) of which FH Automotive: Revenues EUR 218.3 million (-1.3%) Conveyor Belt Systems: Revenues EUR 129.1 million (-11.7%), EBIT EUR 9.9 million (+21.9%) Other Business Units: Revenues EUR 132.5 million (-2.8%), EBIT EUR -6.5 million (+41.7%) Management will propose that stockholders ratify a proposal to forego a dividend at the Annual Shareholders’ Meeting. Outlook: Phoenix expects conservative growth for the year 2003 with revenues EUR 1,140 million. In addition, the Company expects that EBIT will once again outpace revenues and that the Company will end the year in the black. Revenue and earnings performance for the first months of the current year were very encouraging. end of ad-hoc-announcement (c)DGAP 15.04.2003 ——————————————————————————– WKN: 603100; ISIN: DE0006031008; Index: SDAX Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (Prime Standard), Hamburg und München; Freiverkehr in Stuttgart 150840 Apr 03