HOFTEX GROUP

Earnings Release • Apr 2, 2008

News Details

Ad-hoc | 2 April 2008 09:08

Textilgruppe Hof AG: Good result despite start-up costs

Textilgruppe Hof AG / Final Results

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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According to the tentative figures Textilgruppe Hof will close the
financial year 2007 compared to the previous year with an increased
group result by IFRS amounting to 2.5 Mio. € (previous year 1.4 Mio. €).
This result is positively influenced by special consolidation effects in
sum of 0.8 Mio. €. As expected the result is charged with the start-up
costs for the new plant as predicted. Furthermore the result is
also charged by the new regulation for the reversal debit taxation
(former EK 02)concluded by the government which caused a
debit amounting to 0.6 Mio. €. The group turnover rose from
10 Mio. € resp. +5.5 % up to 191 Mio. €. First of all this increase
refers to the takeover of 2 small special yarn manufacturers. The turnover
has developed differently in the individual business fields.

The group result has been charged again this year by earning
problems at a subsidiary in the US.

The equity of Textilgruppe Hof group has increased
from 85.0 Mio. € to 87.3 Mio €. The part of the so-called economic
equity compared to the total assets remains unchanged at 46 %.

The result of Textilgruppe Hof AG as the holding company
of Textilgruppe is due to the mentioned tax debit and risk
proventions at individual companies, especially at the US subsidiary, lower
than the year before. It amounts to approx. 1.0 Mio. € (previous year 1.4
Mio. €). The profit per share based on the group result was almost 0.52 €.

The board is concerned about the future economic development in
Germany due to the not yet foreseeable impacts of the crisis in
the banking sector combined with the trend of
further devaluation of the current world economic leading currencies.

Management board

Textilgruppe Hof AG

Fabrikzeile 21 – 95028 Hof

Phone ++49 9281/49 0

Fax ++49 9281/49216
02.04.2008 Financial News transmitted by DGAP

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Language: English
Issuer: Textilgruppe Hof AG
Fabrikzeile 21
95028 Hof
Deutschland
Phone: ++49 9281 49-0
Fax: ++49 9281 49-216
E-mail: vorstand@textilgruppehof.com
Internet: www.textilgruppehof.com
ISIN: DE0006760002
WKN: 676000
Listed: Regulierter Markt in München

End of News DGAP News-Service

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