Funkwerk AG

Earnings Release • Nov 8, 2002

News Details

Ad-hoc | 8 November 2002 06:59

Funkwerk AG english

Nine-months balance sheet of Funkwerk AG Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Nine-months balance sheet of Funkwerk AG: – Orders on hand and sales grow in excess of 60 per cent – Operating result continues clearly above plan In the first nine months of the 2002 financial year, Funkwerk AG (WKN: 575 314) was able to reach, and partly even exceed, its growth targets. According to the final nine-months figures now available (according to IAS), as at the end of September, the market leader in professional communication systems for traffic and logistics managed to gain 64.8 per cent to reach 69.9 million Euro (previous year: 42.4 million Euro). The orders on hand increased by 62.9 per cent to 104.1 million Euro (previous year: 63.9 million Euro). With incoming orders to the amount of 24.4 million Euro in the third quarter, this result even topped the figure for the previous year by 100 per cent. Compared to the previous year, this immense growth is essentially due to the single-minded setup of the new Private Networks business segment, the in- creasing demand for Funkwerk mobile radio terminals among railway companies, and the acquisition of ALPHA meß-steuer-regeltechnik gmbh. As at the end of September, the operating result (EBIT) of 4.6 million Euro (previous year: 5.0 million Euro) was clearly above the targeted goal. For the end of the third quarter, Funkwerk anticipated an EBIT of only 2.2 million Euro due to the necessary expenditure for the setup of the serial manufacture of GSM-R terminals in the Professional Mobile Radio Systems segment and for other long-term projects. Thus, at the end of September, Funkwerk already achieved around 70 per cent of its anticipated sales for 2002, and due to the impressive number of orders on hand is also well prepared to achieve its other growth targets. Funkwerk anticipates a great profit contribution in the fourth quarter, especially in the Profes-sional Mobile Radio Systems segment, owing to final accounts for projects then due. The full Q3 2002 report of Funkwerk AG for the period under review from 1 Janu- ary to 30 September 2002 is available on the Internet on the Funkwerk AG web site at www.funkwerk.com. end of ad-hoc-announcement (c)DGAP 08.11.2002 ——————————————————————————– WKN: 575314; ISIN: DE0005753149; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Dortmund, Hamburg, Hannover, München und Stuttgart 080659 Nov 02