029 Group SE

Earnings Release • May 2, 2001

News Details

Ad-hoc | 2 May 2001 09:16

Ad hoc-Service: Phoenix AG english

Ad hoc announcement processed and transmitted by DGAP. The issuer has the sole responsibility of this announcement. ——————————————————————————– Hamburg-based Phoenix AG reported a success first-quarter 2001. Revenues for the first three months of the current business year lived up to the company’s expectations. Phoenix ended the quarter with revenues of EUR285.0 million, up 23.4% from the previous year. Earnings before interest and taxes came to EUR10.2 million, which represents an EBIT margin 3.6% as compared with 3.9% for first-quarter 2000. Earnings for the first three months of the current year were adversely impacted by integration expenses in connection with the Vibracoustic joint venture, follow-up expenses in the context of the restructuring plan and substantial increase in material costs. Segmental information: Comfort Systems: Revenues EUR129.4 million (+13.2%), EBIT EUR5.0 million (+2.0%) there of Comfort Systems Automotive: Revenues EUR109.2 million (+ 13.0%) there of Comfort Systems Traffic Technology: Revenues EUR20.2 million (+14.1%). Fluid Handling: Revenues EUR88.2 million (+51.8%), EBIT EUR5.5 million (+48.7%) there of Fluid Handling Automotive: Revenues EUR57.0 million (+47.3%) there of Fluid Handling Industry: Revenues EUR31.2 million (+60.8%). Conveyor Systems: Revenues EUR32.6 million (+12.0%), EBIT EUR1.7 million (+30.8%). Other Business Units: Revenues EUR34.8 million (+18.0%), EBIT EUR0.2 million (-84.6%). Outlook: Economic prospects for the year 2001 no longer look as good as they did in the autumn of the previous year. On the other hand, Germany’s strong automobile industry, from which Phoenix will profit in the year 2001, continues to deliver surprising performance. The company’s industrial markets are also expected to account for 6% of the company’s growth. We expect to end the year with EBIT substantially higher than last year, primarily due to the effects of consolidation and the cost efficiencies resulting from implementation of the company’s restructuring plan. For further information, please contact: Phoenix AG, Investor Relations Dept. Phone +49 (0) 40/7667-1521, Fax +49 (0) 40/7667-2577 Information on Phoenix AG is also available in the Internet at http://www.phoenix-ag.com end of ad hoc announcement, (c) DGAP 02.05.2001 ——————————————————————————– WKN: 603100; Index: MDAX Listed: Amtlicher Handel in Frankfurt, Berlin, Hamburg, Düsseldorf und München; Geregelter Markt in Bremen; Freiverkehr in Stuttgart 020916 Mai 01