RENK Group AG

Earnings Release • Feb 13, 2003

News Details

Ad-hoc | 13 February 2003 08:14

Renk AG english

RENK’s 2002 predictions come true Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– RENK’s 2002 predictions come true Despite the harsher economic environment, the RENK Group succeeded in fully achieving its targets. Compared with the very good 2001 performance, the figures for the past fiscal year 2002 were as follows: Although order intake at EUR305 million did recede by 12 percent, it was nonetheless as in previous years well above sales, which gained slightly to EUR255 million. At EUR585 million as of Dec. 31, 2002, order backlog climbed to a new height. At EUR21 million and EUR19 million, EBIT and EBT, respectively, were somewhat short of the high prior-year figures. Sales returned 7.5 percent, and ROCE came to 19.0 percent. Special measures aimed at more quickly exploiting RENK AG`s tax loss carryover led to an extraordinary result of EUR2.5 million, which is naturally not included in EBT. It will be proposed to the annual stockholders’ meeting to once again distribute a cash dividend of EUR1.20 per share for fiscal 2002. The stock buyback program was continued in 2002, some 200,000 shares of treasury stock (2.9 percent of the total 7 million shares) being repurchased by Dec. 31, 2002. Even though the general economic trend within Euroland would seem to promise more threats than opportunities, we expect 2003 to result in steady progress for our business divisions, and that both order intake and earnings will match the good level of 2002. RENK AG The Executive Board end of ad-hoc-announcement (c)DGAP 13.02.2003 ——————————————————————————– WKN: 785000; ISIN: DE0007850000; Index: Listed: Amtlicher Markt in München; Freiverkehr in Berlin, Frankfurt, Hamburg und Stuttgart 130814 Feb 03