Mayr-Melnhof Karton AG — Earnings Release 2002

Apr 23, 2003

News Details

Ad-hoc | 23 April 2003 08:29

Mayr-Melnhof Karton AG english

Final year 2002 Group results Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Final year 2002 Group results Previous year’s record results outperformed once again Net income increased 6.9% to EUR 83.3 million Increase of dividend from EUR 1.80 to EUR 2.00 per share Consolidated results – US GAAP, in EUR millions 2002 2001 +/- Sales 1,265.7 1,122.9 +12.7% Operating profit 135.7 120.2 +12.9% Income before income taxes and minority interests 132.8 123.3 +7.7% Net income 83.3 77.9 +6.9% Earnings per share (in EUR) 7.57 6.66 Outlook 2003: 1st Quarter 2003: Despite the increasingly rougher economic environment, the capacities of MM-Karton could be utilized to a satisfactory degree. Also MM- Packaging and MM-Graphia registered a positive development of business, resulting in very satisfactory earnings for the first quarter of 2003. Current market development: Cartonboard customers continue to plan on a cautious and short-term basis. In line with this development, nervousness has risen on individual markets, increasing the pressure on cartonboard prices. As in the past, Mayr-Melnhof will continue to adjust cartonboard capacities to demand by taking selective downtime in order to maintain European sales prices as far as possible. From the overseas markets, only a few positive impulses can currently be expected. At approximately 45,000 tons in mid-April, the order backlog of MM- Karton was still at a low level (previous year: approximately 100,000 tons). The situation on the raw materials markets has been characterized by a continuous increase in prices for several weeks. In the folding carton business of MM- Packaging and MM-Graphia, the positive development is expected to continue. Due to the short-term forecast horizon, no dependable estimate on the development of results for the second quarter and first half-year of 2003 can be presented at this time. end of ad-hoc-announcement (c)DGAP 23.04.2003 ——————————————————————————– WKN: 093820; ISIN: AT0000938204; Index: ATX Listed: Amtlicher Handel in Wien; Freiverkehr in Berlin-Bremen, Frankfurt, Hamburg, München und Stuttgart 230829 Apr 03