MEDION AG

Earnings Release • Nov 13, 2003

News Details

Ad-hoc | 13 November 2003 07:01

Medion AG english

Sales having grown by 15.2 %, EBIT + 18.8 % after nine months Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– MEDION AG, Essen (Germany) Ad-hoc-Announcement, 13 November 2003 Sales having grown by 15.2 %, EBIT + 18.8 % after nine months In the first nine months of the current business year, MEDION has achieved a sales volume of EUR 1,497.3 M (previous year: EUR 1,299.9 M). This corresponds to an increase of 15.2 %. In Germany, sales growth reached 5.4 % in the first nine months of 2003 in spite of a difficult economic environment. In the third quarter alone, sales grew even more by 8.3 %. We have been able to raise EBIT by 18.8 % from EUR 71.8 M to EUR 85.3 M. Compared to the previous year pre-tax earnings climbed by EUR 14.8 M from EUR 70.0 M the year before to EUR 84.8 M in 2003. Earnings per share improved by EUR 0.14 from EUR 0.89 to EUR 1.03. Foreign activities Foreign exposure reached 35.8 % (previous year: 29.8 %) of total sales. In total MEDION has achieved foreign sales of EUR 535.6 M in 2003 (relevant period in 2002: EUR 387.0 M). This reflects an improvement of 38.4 %. The development on European markets has been particularly positive, while in the third quarter US business ran slower than projected. Outlook MEDION has been able to raise both sales and earnings – permanently and steadily – by exclusively concentrating on the marketing of trend products. By focusing on technically sophisticated products with an excellent cost/benefit ratio we have succeeded in achieving solid sales success even in a difficult economic environment. With regard to the current business year we have recently noticed a favourable order development. Therefore, we are convinced that our projected earnings targets will be fully realized this year. However, on a full year basis, group sales will rise at a rate of approximately 11 to 13 %, which is slower compared with profit growth. This reflects among other things dollar-induced price drops as well as shortages in key supply components which have occurred at short notice during the fourth quarter. The high underlying demand and the above mentioned trends concerning our clients and products make us optimistic to maintain double-digit growth rates again next year. end of ad-hoc-announcement (c)DGAP 13.11.2003 ——————————————————————————– WKN: 660 500; ISIN: DE0006605009; Index: MDAX Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 130701 Nov 03