Dr. Hoenle AG

Earnings Release • Dec 12, 2001

News Details

Ad-hoc | 12 December 2001 07:30

Dr. Hönle AG english

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Hönle announces double-digit increase in revenues and earnings in fiscal 2000/2001 / Reduced forecasts for 2001/2002 Planegg/Munich, 12 December 2001. Dr. Hönle AG, a leading supplier of industrial UV technology, today announced revenues of Euro 17.5 million in fiscal 2001/20002 (1.10.2000 – 30.9.2001), a 22.6 percent improvement on the previous year’s figure (Euro 14.2 million). Consolidated net income increased by 64.5 percent to Euro 1.9 million, compared to Euro 1.1 million in the previous year. As at 30.9.2001, the company had approx. Euro 20 million in cash and cash equivalents. Hönle will publish its consolidated financial statements on 28 December. 2000/2001 1999/2000 Revenues 17.456 Mio Euro 14.243 Mio Euro + 22.6 % EBIT 2.904 Mio Euro 2.367 Mio Euro + 22.7 % EBT 3.376 Mio Euro 2.210 Mio Euro + 52.8 % Result before minority interest 1.945 Mio Euro 1.190 Mio Euro + 63.4 % Net income 1.885 Mio Euro 1.146 Mio Euro + 64.5 % The company expects the general downturn in the economy to continue into fiscal 2001/2002 and to have impacts on its own growth. In view of this macroenvironment, Hönle anticipates a decline in revenues and income during the first quarter of the 2001/2002 business year relative to the same quarter of the previous year, which was particularly strong. Despite this, total revenue in fiscal 2001/2002 is expected to grow by 10 percent. Net income for the year will probably be around the same level as the previous year, partly due to the recent establishment of two new subsidiaries, Aladin GmbH and Honle Spain S.A. The company expects these new subsidiaries to be making substantial contributions to profits as early as the 2002/2003 business year. Assuming that economic recovery has taken hold by the end of 2002, Hönle expects revenues to grow at a fast pace again in fiscal 2002/2003, and that earnings will increase at an even stronger rate. For further information: http://www.hoenle.de Contact: Dr. Hönle AG, Peter Weinert, Investor Relations Manager, Fraunhoferstr. 5, 82152 Planegg/München, Tel.: +49 (0)89-85 608-173, Fax: +49 (0)89-85 608-148, Email: ir@hoenle.de end of ad-hoc-announcement (c)DGAP 12.12.2001 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: This guidance is based, inter alia, on the recent establishment of Aladin GmbH in Rott am Inn, which has provided Hönle with its own UV-lamp production facilities since November of this year. The company now manufactures its own light sources, one of the core components of UV equipment, and now conducts its own research and development work on the same site. This means that Hönle has significantly extended its value creation chain and can swiftly respond to changing customer needs. The company is also able to tap a new and highly profitable field of business that will make a positive contribution to earnings in the 2002/2003 business year. The new subsidiary in Spain will probably generate significant sales revenue within the short term, particularly since the managing director of Honle Spain is the owner of Colorbar, the agency with exclusive distribution rights in Spain for a major producer of printer’s inks and coatings. This means that Hönle already has an established sales network in Spain which it can further exploit. Hönle is prioritising southeast Asia and America for further expansion, since these are the key non-European markets for UV applications; Hönle already enjoys a strong position on the European market. The company intends to use some of its considerable cash resources to buy other companies, in order to expand its sales operations in the relevant export markets and to round off its product assortment. Potential takeover candidates are currently being evaluated. In the medium term, Hönle sees major growth opportunities arising from the progressive replacement of conventional drying methods for paints and adhesives with new methods based on UV curing. UV technologies dry many times faster, are eco-friendlier because no solvents evaporate, and ensure higher product quality, e.g. by creating scratch-resistant inks and lacquers. ——————————————————————————– WKN: 515710; ISIN: DE0005157101; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart