029 Group SE

Earnings Release • Sep 13, 2002

News Details

Ad-hoc | 13 September 2002 10:03

SZ Testsysteme AG english

SZ Testsysteme Discloses Tight Liquidity Position Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Amerang, September 13, 2002. The global semiconductor industry is not showing signs of a recovery in the near future, despite prior industry forecasts. As a result, SZ Testsysteme AG, headquartered in Amerang, near Wasserburg, Germany, is downgrading its sales and earnings forecasts for the current fiscal year 2001/2002 (September 30th). Due to the current market situation, which continues to be sluggish, the company will make additional depreciations of internally produced and capitalized assets and inventories, impacting the company’s balance sheet and earnings. As a result, the Managing Board is forecasting a loss in excess of EUR 20 million (EBIT) with sales of approximately EUR 22 million. Due to pre-capital expenditures, the financial resources of the Company have been affected especially by personnel costs. Currently SZ Testsysteme is in negotiations with creditors (banks and suppliers) for a fair amendment and to ensure a sufficient financing outlook. The number of employees will be reduced to approximately 200 in order to lower the operational costs. SZ is predicting that sales in the ATE industry will remain flat during the first half of 2003. For further information please contact: SZ TESTSYSTEME AG Ellen Hell Investor Relations Am Kroit 25 83123 Amerang Germany Tel: +49 (0)8075 / 17 1111 Fax: +49 (0) 08075 / 1741111 Email: Ellen.Hell@sz.com end of ad-hoc-announcement (c)DGAP 13.09.2002 ——————————————————————————– WKN: 506730; ISIN: DE0005067300; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 131003 Sep 02