Mühlbauer Holding AG — Earnings Release 2002

Nov 12, 2002

News Details

Ad-hoc | 12 November 2002 08:52

Mühlbauer Holding english

Q3/2002 report: Earnings substantially improved – positive trend continued in Q4 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Roding, November 12, 2002 – As expected, Muehlbauer Holding AG & Co. KGaA (WKN 662720), worldwide leading manufacturer of turn-key solutions for the production of chip cards and smart labels, continued its positive trend in the third quarter 2002. Moreover, the pick-up in business activities is evidenced by the significant rise of the incoming orders at the beginning of the fourth quarter (October 2002), with 10.5 mill. EUR representing the highest monthly value in the current fiscal year. With 21.7 mill. EUR for the third quarter, the incoming orders were not only up almost 50% from the value of the previous year (14.6 mill. EUR), but at the excellent level of the second quarter (22.3 mill. EUR). In all four business segments the sales closed considerably higher than last year’s level, leading to a 19% increase of total sales to 22.1 mill. EUR (previous year: 18.6 mill. EUR). In view of the promising results a considerably positive trend can be predicted for the course of the year. With 37.8 mill. EUR the order backlog at the end of the third quarter was about 12% below the high value of the previous year. Based on an operative result in the amount of 0.6 mill. EUR (previous year: 0.6 mill. EUR), earnings before interest and tax (EBIT) of 1.7 mill. EUR (previous year: 1.6 mill. EUR) could be achieved. Adjusted by the effects of the stock options program, an EBIT of 1.6 mill. EUR arises (previous year: 0.9 mill. EUR), which means an increase of 74%. Earnings per share (EPS) also could be improved fundamentally and, with 0.06 EUR, not only exceed the comparable period of the previous year (0.04 EUR) by 50%, but have even doubled compared with the previous quarter (0.03 EUR). Based on the considerably reduced working capital in the amount of 51.2 mill. EUR (previous year: 67.8 mill. EUR), the free cash-flow increased again by September 30th, 2002 and amounts to 11.1 mill. EUR for the first nine months of 2002 (previous year: – 8.4 mill. EUR). The complete quarterly report can be downloaded on the homepage www.muehlbauer.de. For further information: Investor relations, Armin Polster, Tel.:+49(9461)-952-653, armin.polster@muehlbauer.de. Muehlbauer Holding AG & Co. KGaA, www.muehlbauer.de. end of ad-hoc-announcement (c)DGAP 12.11.2002 ——————————————————————————– WKN: 662720; ISIN: DE0006627201; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 120852 Nov 02