MAX Automation SE — Earnings Release 2001

Apr 18, 2002

News Details

Ad-hoc | 18 April 2002 12:38

M.A.X. Holding AG english

M.A.X. Holding AG increases group surplus for 2001 to 14.9 m EUR Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– M.A.X. Holding AG increases group surplus for 2001 to 14.9 m EUR and slashes bank debts Munich, 18 April 2002. M.A.X. Holding AG (company reg. no.: 658090) reports an increased annual surplus for the Group of 1.9 m EUR in 2001, bringing surplus up to 14.9 m EUR. The growth in profits is due to exceptional returns on desinvestments implemented in the past year (Dumser Metallbau, Nau Group Building and Heat Technology sector). Group sales totalled 173.3 m EUR (previous year: 194.2 m EUR). Profits on a comparable portfolio basis rose by 2.7 per cent. The medium-sized holding company operating in the field of specialist mechanical engineering fulfilled its promise to slash bank debts of both the public limited company (AG) and Group for 2001. The statement of accounts for the AG showed 38.4 m EUR outstanding as of 31 December 2001, as against 63.0 m EUR at the end of 2000. By the beginning of March 2002, the AG’s bank debts were further reduced to around 28 m EUR. The Managing Board describes the figures as a major success in the company’s restructuring. The M.A.X. AG balance sheet showed a rise in income from investments in associated companies, an indicator of the holding companies’ financial success, of 13.4 per cent on a comparable basis, to 9.8 m EUR. The Managing Board adjusted the book values of individual holdings downwards to take into account the gloomy economic climate and a conservative accounting policy; this was the primary reason for the losses of 15.4 m EUR quoted for the AG (previous year: 5.2 m EUR surplus). At the Annual General Meeting on 11 July, the Managing Board will therefore propose the cancellation of dividend payments for 2001. Since no net earnings for the year are available from individual accounts, no payout can be made on the convertible participating certificates issued in 1997. The full annual report will be presented at a press conference on 29 April 2002. Contact: Frank Elsner Kommunikation für Unternehmen GmbH, Tel.: +49-5404-91 920, Fax: +49-5404-919229 End of Press Release end of ad-hoc-announcement (c)DGAP 18.04.2002 ——————————————————————————– WKN: 658090; ISIN: DE0006580905; Index: SDax Listed: Geregelter Markt in Frankfurt (SMAX) und München; Freiverkehr in Berlin, Hamburg und Stuttgart 181238 Apr 02