029 Group SE

Earnings Release • Jul 2, 2002

News Details

Ad-hoc | 2 July 2002 20:10

SZ Testsysteme AG english

SZ Testsysteme AG lowers sales and profits forecast Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Amerang, 2 July 2002. Despite positive signs at the beginning of the year, the last three months were once again hit by a recession in the semiconductor industry. This also affected SZ Testsysteme AG’s business. As a result, customers postponed major orders earmarked for the third quarter into the next financial year. At EUR 25 million, the company’s sales in the current financial year (2001/2002 – 30 September) will be significantly below budget. Foreseeable EBIT of minus EUR 18 million (without taking account of any provisions for restructuring) will be negative. SZ Testsysteme has reacted to the difficulty in assessing the semiconductor industry’s investment behavior by introducing more extensive cost-cutting measures that take these developments into account. Accordingly, SZ Testsysteme AG will be cutting back its worldwide workforce from 390 to around 300. Despite the current situation, the executive board does not see the company as being substantially at risk. With shareholders’ equity of approx. EUR 50 million and sufficient credit lines, SZ Testsysteme AG should comfortably survive even this difficult situation. The company has created the best conditions for the generally expected upturn in the semiconductor industry at the end of 2002 or at the beginning of 2003 at the latest, by developing new products and creating additional production capacity in preparation for a return to the earlier rates of growth. For further informations please contact: SZ TESTSYSTEME AG Phone: 49(0)8075/17-1111; Email: aktie@sz.com; Fax: 49(0)8075/17-41111 end of ad-hoc-announcement (c)DGAP 02.07.2002 ——————————————————————————– WKN: 506730; ISIN: DE0005067300; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 022010 Jul 02