029 Group SE

Earnings Release • May 14, 2002

News Details

Ad-hoc | 14 May 2002 08:45

Phoenix AG english

Stable performance for first-quarter 2002 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– In its report on the quarter ended March 31, 2002, Hamburg-headquartered Phoenix AG reported stable performance for first-quarter 2002. Revenues for the first three months of the year were down a slight 1.9% from first-quarter 2001, going from EUR 285.0 million to EUR 279.5 million. Earnings before taxation and interest for the quarter amounted to EUR 9.6 million, down from EUR 10.2 million a year earlier. This represents an EBIT return of 3.4% as compared with 3.6% for the preceding year. Apart from a slight period difference, earnings developed in proportion to revenues. Segment information: Comfort Systems: Revenues EUR 131.0 million (+1.2%), EBIT EUR 4.2 million (- 15.6%) of which from Comfort Systems Automotive: EUR 111.0 million (+1.6%) of which from Comfort Systems Traffic Technology: EUR 20.0 million (-1.0%). Fluid Handling: Revenues EUR 82.1 million (-6.9%), EBIT EUR 8.0 million (+44.5%) of which from Fluid Handling Automotive: EUR 52.1 million (-8.6%) of which from Handling Industry: EUR 30.0 million (-3.8%). Conveyor Systems: Revenues EUR 34.2 million (+4.9%), EBIT EUR 2.2 million (+27.6%). Other activities: Revenues EUR 32.2 million (-7.5%), EBIT EUR -2.1 million Outlook: In view of the company’s solid position in the automotive area and sustainable strength in other industrial markets, Phoenix AG continues to expect that revenues will remain stable and reach the previous year’s level. Due to measures that have already been described in previous reports, improvement in earnings over the previous year can also be expected. Labor disputes between trade unions and industry could aggravate the already uncertain situation in the automotive industry, and this represents a risk that cannot be ignored. end of ad-hoc-announcement (c)DGAP 14.05.2002 ——————————————————————————– WKN: 603100; ISIN: DE0006031008; Index: MDAX Listed: Amtlicher Handel in Frankfurt, Berlin, Hamburg, Düsseldorf und München; Geregelter Markt in Bremen; Freiverkehr in Stuttgart 140845 Mai 02