Funkwerk AG

Earnings Release • Jan 27, 2003

News Details

Ad-hoc | 27 January 2003 07:30

Funkwerk AG english

Preliminary figures for the 2002 financial year: Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Even in difficult times Funkwerk grows according to plan – Sales increase by 55 per cent to exceed 105 million Euro – Fourth quarter the best to date in company history with an EBIT margin exceeding 11 per cent Funkwerk AG has managed to reach its growth targets for 2002 despite the difficult general economic setting. According to the preliminary figures now available for the 2002 financial year, the company was able to increase sales by more than 55 per cent to exceed 105 million Euro (previous year: EUR 67.4 mil- lion), thus outperforming the anticipated figure of 103 million Euro. Here, the fourth quarter of 2002 with sales of 35 million Euro (previous year: EUR 25 million) proved to be the best to date in company history. Even the operative result (EBIT) recorded a similarly satisfactory trend despite large-scale expenditure in the areas of production and development. It is anticipated to grow by around 29 per cent to exceed 8.5 million Euro (2001: EUR 6.6 million). In the fourth quarter, the EBIT margin even managed to reach 11.1 per cent. The rapid growth was driven in particular by the Professional Mobile Radio Systems segment due to its increase in demand for GSM-R terminals and management systems on the part of railway companies, the final accounts for several projects in the fourth quarter, and the initial consolidation of the acquisitions. The continued excellent business trend also becomes evident when looking at the orders on hand. As at the end of December 2002, their figure amounted to 94.6 million Euro (end of 2001: EUR 103.2 million). This corresponds to roughly 75 per cent of the sales volume envisaged for 2003. Thus Funkwerk AG is in an excellent position to achieve the anticipated growth of around 25 per cent in sales and profit for 2003. The final figures for the 2002 financial year and the detailed annual report of Funkwerk will be published on 17 March 2003. end of ad-hoc-announcement (c)DGAP 27.01.2003 ——————————————————————————– WKN: 575314; ISIN: DE0005753149; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Dortmund, Hamburg, Hannover, München und Stuttgart 270730 Jän 03