RENK Group AG

Interim / Quarterly Report • Aug 6, 2001

News Details

Ad-hoc | 6 August 2001 08:15

Renk AG english

Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Report on the first six months of 2001, January 1 – June 30, 2001 RENK maintains high level of profitability RENK AG (Augsburg / Germany) and its subsidiaries set forth their upswing in the first half of the financial year 2001. RENK is the world’s leading producer of large-sized gearing units and drive elements. In the first six months of 2001, RENK recorded new orders, sales and pre-tax profits of EURO 126 million, EURO 109 million and EURO 9 million respectively. The latter corresponds to a net operating margin of 8%. The company is forecasting that 2000’s new orders and sales will be greater than those achieved in 1999/2000, the company’s last 12-month financial year. Comparisons between the figures registered during the first six months of 2001 with those recorded in January – June, 2000-new orders Euro 208 million, sales Euro 174 million and pre-tax profits Euro 16 million-have limited validity, as the latter period formed the end of the 1999/2000 financial year. As was the case with the other companies in the MAN Group, RENK’s next financial year was short, running from July to December, 2000. This move was made to have the company’s financial year commence on January 1. The statistics emerging from the countries forming ‘Euroland’ are indicating that the slowdown plaguing its economy will probably not end in the immediate future. The industrial engineering sector – of which RENK forms part – has, however, no reason to be basically pessimistic. The strength being shown by its sector is causing RENK to forecast that the second half of the year will bring a setting forth of-or even an increase in-the high level of business it did in the first half of 2001. The company foresees its having good prospects during the next six months of increasing the new orders booked by its vehicle transmission division. In spite of the uncertainties arising in its standard operations pre-tax earnings amounting to somewhere around Euro 20 million are expected-a figure very close to the excellent results achieved in financial years past. RENK Aktiengesellschaft The Executive Board end of ad hoc announcement (c) DGAP 06.08.2001 ——————————————————————————– WKN: 785000; Index: Listed: Amtlicher Handel in München, Freiverkehr in Frankfurt, Berlin 060815 Aug 01