029 Group SE

Earnings Release • Jul 18, 2002

News Details

Ad-hoc | 18 July 2002 08:39

Rhein Biotech N.V. english

Second quarter performance affected by lower US Dollar Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Second quarter performance affected by lower US Dollar Rhein Biotech, today announced on the basis of the preliminary results available that, although the second quarter saw a good sales performance and an increased gross margin as compared to the first quarter of 2002, the results were negatively affected by the lower US Dollar. Rhein Biotech’s export sales, through its subsidiary GreenCross Vaccine Corp. are mainly in US Dollars. Due to the lower value of the US Dollar, receivables have had to be re-valued. This results in a financial loss of approx. EUR 1.7 million, which affects the overall net income in the second quarter leading to an expected net income in the range of 0.1 to 0.3 million Euro. Rhein Biotech’s sales reached a level of 22.2 million Euro, a growth of 7.4% compared to the second quarter of 2001. Furthermore the gross margin on product sales has continued to increase compared to the previous quarter, in line with the company’s plan to optimise efficacy and structurally improve the gross margin. Rhein Biotech’s cash position at the end of June is 46.3 million Euro, an increase of 20.8 million Euro compared to the previous quarter, mainly attributable to the issue of a corporate bond for approx. 17 million Euro. Rhein Biotech’s final half-yearly results will be published on the 13th of August end of ad-hoc-announcement (c)DGAP 18.07.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: For Further Information please contact: Rhein Biotech N.V. Company Contact: Marcel Jacobs Communication Manager T: +31 (0)43 / 35 67 894 F: +31 (0)43 / 35 67 899 E: m.jacobs@rheinbiotech.com Media Contact Carsten Heinrichs IR-Consultant vom Hoff Kommunikation GmbH T: +49 (0)211 / 515 805 12 F: +49 (0)211 / 515 805 55 E: c.heinrichs@vomhoff.de ——————————————————————————– WKN: 919544; ISIN: NL0000230324; Index: NEMAX 50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München, Stuttgart, Hannover 180839 Jul 02