029 Group SE

Earnings Release • Aug 1, 2002

News Details

Ad-hoc | 1 August 2002 18:06

Armstrong DLW AG english

Development of business in the 1st half of 2002 Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Interim report in accordance with § 44b of the German Stock Exchange Act (BörsG) in conjunction with § 53 et seq. of the German Stock Exchange Listing Regulation (BörsZulV) Development of business in the 1st half of 2002 Armstrong DLW AG, Bietigheim-Bissingen Development of sales Sales of the Armstrong DLW Group in the first half of 2002 fell by 10.2 % to Euro 207.1 million and sales of Armstrong DLW AG from Euro 111.4 million to Euro 85.2 million in comparison with the same period in the previous year. Production and sales of textile coverings at the Bietigheim location were transferred from Armstrong DLW AG to Desso Textil GmbH at the end of 2001. This resulted in a transfers of sales amounting to approximately Euro 19.4 million between 2001 and 2002. Earnings situation The Armstrong DLW Group showed a loss for the first half year of Euro 3.8 million (LY: a profit of Euro 7.2 million) and a pre-tax loss of Euro 6.0 million (LY: a profit of Euro 8.5 million). Operating results at the end of the first half-year in 2002 showed a loss of Euro 3.9 million (LY: a profit of Euro 9.5 million). Armstrong DLW AG showed a loss of Euro 0,5 million for the first half year of 2002 and was therefore below the comparative figure for the previous year (LY: a profit of Euro 3.6 million) and incurred a pre-tax loss of Euro 1.1 million (LY: a profit of Euro 3.8 million). Operating results at the end of the first half-year in 2002 showed a loss of Euro 0.3 million (LY: a profit of Euro 4.6 million). The operating results of Armstrong DLW AG in 2002 included extraordinary income of Euro 3.5 million from the sale of property and restructuring costs of Euro 2.1 million. end of ad-hoc-announcement (c)DGAP 01.08.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: New orders received and order book position New orders received by the DLW Group amounted to Euro 270.5 million (LY: Euro 304.9 million). This corresponded to a reduction of 11.3 % (LY: a reduction of 4.8 %).At Euro 65.1 million, the order book position was 35.4 % lower than the comparable figure in the previous year (Euro 100.7 million). Armstrong DLW AG received new orders of Euro 78.3 million, equivalent to a reduction of 8.9 % in comparison with the previous year (Euro 85.9 million). The order book position of Euro 16.7 million was 38.9% lower than the comparable figure in the previous year (Euro 27.3 million). Capital investments and finance Capital investments by the Armstrong DLW Group amounted to Euro 7.0 million in the first half of 2002 (LY: Euro 7.4 million). Armstrong DLW AG invested Euro 4.3 million (LY: Euro 4.6 million). Employees The Armstrong DLW Group had 2,646 employees at June 30. 2002 (LY: 2,839). Armstrong DLW AG had 1.253 employees at June 30, 2002 (LY: 1,422). This change was mainly attributable to the restructuring of Armstrong DLW AG and the adaptation of manufacturing to market conditions. Prospects A further expansion of our market position will be achieved by selective measures such as reductions in the level of capital tied up in inventories and non-essential operating assets, special country plans for increasing sales in the major product groups and cost reductions. The economic prospects and anticipated building activities for the second half of 2002 and also for 2003 are not very optimistic. We will encounter this downturn with selective measures in order to successfully continue the course which was established in 2001. We are not anticipating a sales increase in the second half of 2002 but an improvement in the earnings situation in comparison with the first half-year. ——————————————————————————– WKN: 551800; ISIN: DE0005518005; Index: Listed: Amtlicher Markt in Frankfurt, Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 011806 Aug 02