029 Group SE

Earnings Release • Apr 29, 2002

News Details

Ad-hoc | 29 April 2002 17:59

Armstrong DLW AG english

Business development of Armstrong DLW AG, Bietigheim-Bissingen in 2001 Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Intermediate report ace. to § 44b BörsG I.V. § 53ff BorsZulV Business development of Armstrong DLW AG, Bietigheim-Bissingen in 2001 After losses in 2000 the Armstrong DLW Group has consolidated itself in the past business year despite the negative economic situation in the building industry. In 2001 the floorcoverings manufacturer of Bietigheim was in the black again: The Armstrong DLW Group registered an annual surplus of 0.1 Mill. EUR compared with the annual deficit of 18.6 Mill. EUR in the year before. Sales increases in resilient floorcoverings have contributed to consolidate the company. Its main product Linoleum could score a growth of over 3 %, the increases of the design tile “Scala” even reached double figures. In addition, increases in overseas exports, above all to the US. had a positive influence on the sales development. The operating results were improved additionally with the help of a more efficient cost control and the sale of loss-making business fields. The successful completion of a comprehensive restructuring process which the company went through in the past years, as well as the fact that the raw material prices were lower than in the preceding year, gave new impetus. The sales increases of Linoleum and resilient floorings however could not counterbalance the decline in the textile residential sector and the textile coverings for hotels as well as the sales losses caused by abandoning unprofitable business fields (wood, Ossfloor). So in 2001 the Armstrong DLW Group’s gross profit from sales amounted to 463.9 Mill. EUR compared to 504.5 Mill. EUR in the preceding year. In 2001 the sales of Armstrong DLW AG dropped to 220.1 Mill. EUR compared to 251.7 Mill. EUR in 2000. This decrease was caused by a sales relocation to Desso DLW Textil GmbH and by giving up the wood activities. On the other hand Armstrong DLW AG showed an annual surplus of 0.8 Mill. EUR in the completed business year whereas in 2000 an annual deficit of 53.6 Mill. EUR had to be stated. In total, Armstrong DLW AG has developed into a globally acting company integrated with Armstrong World Industries, Inc.. The holding company of the Group is the world market leader in resilient floorcoverings for which Armstrong DLW AG is one of the leading European suppliers. Since the planned selling of the textile business was revised, the Desso division has become again an integral part of Armstrong DLW’s company strategy. Based on the negative economic forecasts it has to be expected that in 2002 the situation in the building industry will remain tense. Nevertheless the management is convinced that the slowdown in economic activities can be confronted by innovative products and by concentrating on important markets. end of ad-hoc-announcement (c)DGAP 29.04.2002 ——————————————————————————– WKN: 551800; ISIN: DE0005518005; Index: Listed: Amtlicher Handel in Frankfurt, Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 291759 Apr 02