Sartorius AG

Earnings Release • Aug 29, 2002

News Details

Ad-hoc | 29 August 2002 14:45

Sartorius AG part 2

Sartorius AG (Part 2 of 2) Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Part 2 of 2 Against the background of the measured initiated, the Executive Board continues to adhere to its positive full-year earnings expectations and to aim at achieving an increase in earnings relative to the previous year. The considerably positive earnings expectations for the second half are based on the following, among others: the continuous increase in the scheduled production volume at our “Plant 2001”; the restructuring and cost-cutting measures initiated in the Mechatronics Division; the reduction in the work hours of employees working in the Mechatronics Division at Sartorius AG; the impact of further cost reductions throughout the Sartorius Group; structural seasonal trends in the demand of some business areas; and the assumption that economic situation will pick up slightly. Although the Executive Board believes that full-year growth in sales revenue is likely to be higher than that of the first half, this Group-wide growth will, however, probably not reach the double-digit percentage range within the remaining fiscal year, as originally aspired. The adaptive and restructuring measures generated nonrecurring expenses that negatively impacted our first-half earnings, but will sustainably strengthen our earnings power. Along these lines, the final restructuring measures, which were resolved at the end of May in the Industrial Mechatronics at our Hamburg- based subsidiary GWT, resulted in a positive EBIT figure already in July. Therefore, the Executive Board considers that GWT’s restructuring has been successfully completed. At the end of August, our detailed report on the first half of 2002 will be available to download from our website on the Internet at http://www.sartorius.com or a printed copy can be requested from our company. If you have any questions, please contact Dr. Joachim Kreuzburg (phone +49(0) 551/308 3438, e-mail: info.investor@sartorius.com). end of ad-hoc-announcement (c)DGAP 29.08.2002 ——————————————————————————– WKN: 716560; ISIN: DE0007165607; Index: SDax Listed: Amtlicher Markt in Frankfurt (SMAX), Hannover; Freiverkehr in Berlin, Hamburg 291445 Aug 02