Rosenbauer International AG

Earnings Release • Aug 22, 2001

News Details

Ad-hoc | 22 August 2001 09:30

Rosenbauer International english

Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– On more or less constant revenues of EUR 122.3 m (1-6/2000: EUR 124.0 m), the Group posted improved 1st half-year EBT of EUR -0.7 m (1-6/2000: EUR -3.1 m). The regular pattern in the fire-equipment industry is that the lion’s share of revenues is realised in the second half of the year. Thus it is that – as in previous years – only around 40% of the revenues projected for the year as a whole were realised during the first half of 2000. This explains why the Group’s result for the first half of the year is still somewhat below average. The main reasons for the increase of the EBT were deliveries made to South America by the Spanish subsidiary, and the sustained uptrend at the Group’s U.S. subsidiaries. Revenues at the three American companies were 17% above those in the corresponding period of 2000, while at the Group’s Spanish subsidiary, they rose by 34% as a result of export deliveries. Market trends Germany an Argentina In response to the declining pace of incoming orders on the German market for municipal fire-fighting vehicles and turntable ladders, the reorganisation that got underway towards the end of 2000 has continued to be vigorously implemented. This reorganisation is leading to reductions in administrative costs, thereby significantly lowering the break-even point. The relocation of fire-fighting vehicle production operations from Karlsruhe to Luckenwalde has now been completed, and at the end of June 2001 a binding redundancy programme was agreed for reducing administration staff numbers. The persistently high levels of government debt in Argentina, which have led to drastic reductions in available public budgets, have prompted Rosenbauer to dispose of its Argentinean holdings to its previous co-partners. Rosenbauer had held a 51% stake in Rosenbauer Argentina SA and its service workshop company Cuatro Dos Servicios Integrales SA. In the income statement of the Group “Discontinuing operations” are amounted to EUR -0.5 m. end of ad hoc announcement (c) DGAP 22.08.2001 Issuer’s information/explanatory remarks concerning this ad hoc announcement: Orders The volume of new orders received throughout the Group during the first half of 2001 rose to EUR 140.9 m (as against EUR 113.8 m for 1-6/2000). Orders books at June 30, 2001 stood at EUR 201.7 m (30.6.2000: EUR 230.2 m). Attention should be drawn to an order placed by the Lower Austrian Provincial Fire Service for 28 fire-fighting vehicles worth EUR 6.8 m. Outlook In the 2001 financial year, the business environment in Europe remains very tight, as public-sector budgets are finding it increasingly difficult to finance investments in fire-fighting hardware. In the USA, the economic slowdown has not yet impacted upon the fire-equipment industry, leading us to expect revenues and earnings to develop positively during the current business year. Group Management expects revenues for the year 2001 as a whole to reach roughly the same level as last year (2000: EUR 287.7 m) and is looking for an increase in EBT over the year-2000 figure of EUR 2.7 m. Further information: Robert Kastil, Executive Vice President Finance Tel: +43/732/6794-570 ir@rosenbauer.co.at www.rosenbauer.co.at ——————————————————————————– WKN: 092255; Index: Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin 220930 Aug 01