029 Group SE

Earnings Release • Aug 7, 2002

News Details

Ad-hoc | 7 August 2002 08:40

Phoenix AG english

Phoenix AG Reports Improvement in First-Half Revenues Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Hamburg-headquartered Phoenix AG reported an improvement in revenue performance for the six-month period ended June 30, 2002. Revenues for the first six months of the year exceeded first-half 2001 performance, going from EUR 564.4 million for first-half 2001 to EUR 573.7 million for an increase of 1.6%. Earnings before interest and taxation (EBIT) came to EUR 17.8 million, down from EUR 19.2 million a year earlier. This represents an EBIT return of 3.1% as compared with 3.4% for the comparable period a year earlier. Segment information: Comfort Systems: Revenues EUR 271.1 million (+6.3%), EBIT EUR 8.0 million (-12.1%) of which from Comfort Systems Automotive: EUR 230.6 million (+7.0%) of which from Comfort Systems Traffic Technology: EUR 40.5 million (+2.8%). Fluid Handling: Revenues EUR 167.7 million (-3.2%), EBIT EUR 13.8 million (+21.1%) of which from Fluid Handling Automotive: EUR 107.8 million (-1.7%) of which from Handling Industry: EUR 59.9 million (-5.7%). Conveyor Systems: Revenues EUR 69.4 million (+4.7%), EBIT EUR 4.2 million (+5.0%). Other Activities: Revenues EUR 65.5 million (-6.3%), EBIT EUR -3.0 million Outlook: The Germany economy is still recovering haltingly, and the economic situation remains fragile. In addition, substantial stock market losses will noticeably inhibit private consumption, and the automobile industry could suffer from a further reduction in demand. In the first half of the current year, Phoenix AG demonstrated its ability to assert itself in the marketplace even against the background of a difficult economic environment. As a result, given the company’s strong position in its core markets, Phoenix continues to expect revenues to reach last year’s level and also anticipates an improvement in operating results. end of ad-hoc-announcement (c)DGAP 07.08.2002 ——————————————————————————– WKN: 603100; ISIN: DE0006031008; Index: MDAX Listed: Amtlicher Markt in Frankfurt, Berlin, Hamburg, Düsseldorf und München; Geregelter Markt in Bremen; Freiverkehr in Stuttgart 070840 Aug 02