PVA TePla AG — Earnings Release 2002

Apr 15, 2003

News Details

Ad-hoc | 15 April 2003 08:29

PVA TePla AG english

PVA TePla AG: 2002 Group earnings influenced by special merger effects / New CFO Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– PVA TePla AG: 2002 Group earnings influenced by special merger effects / New CFO Feldkirchen, 15.04.2003: PVA TePla AG, the company formed in November 2002 by merging PVA Vakuum-Anlagenbau GmbH with TePla AG, recorded Group revenues of EUR 37.8 million in the 2002 financial year. However, in accordance with US GAAP rules, the sales of the former TePla AG – now the Plasma Systems Division – were not included until the month of November 2002, i.e. for only two months; the revenues of the PVA Group were included for all 12 months. When TePla Group sales are included for the year as a whole, the total revenues achieved by the PVA TePla Group amount to EUR 46.7 million. This figure is just below the Group sales target set at the end of November. PVA TePla AG earnings in 2002 were substantially influenced by special merger effects. The ongoing crisis in the semiconductor industry and investment restraint worldwide, on the one hand, and, on the other, the merger itself and expenses associated with restructuring measures initiated in 2002 led to a Group operating result (EBIT) of EUR -5.0 million. Before deduction of merger and restructuring costs, at around EUR 2.7 million, the Group EBIT before special effects was EUR -2.3 million. The net loss for the year is EUR -3.7 million, above all because US GAAP requires the capitalisation of deferred taxes amounting to EUR 1.2 million. Earnings per share are EUR -0.23. Figures for the previous year are not provided here due to lack of comparability, and because extensive notes would be needed to explain the impacts of the merger. We refer to the Annual Report for further details. For the 2003 business year, the Management Board expects only a moderate increase in sales on account of the continued uncertainties affecting the global economy. The earnings situation is expected to improve significantly in a year-on-year comparison, however, with the operating result reaching breakeven. The restructuring measures initiated at the end of the year will reduce overheads substantially from the second half of 2003 onwards. The potential for exploiting scale effects made possible by the merger, in respect not only of cost structures but also on the markets, has not been exhausted as yet. Additional positive impacts are to be expected in the medium term, therefore. The Supervisory Board has appointed Nina v. Moltke as new CFO effective from April, 16 after Craig Walker was recalled. Contact: Peter Banholzer (IR Manager) Tel.: +49 / (0)89 / 90503-106 E-Mail: peter.banholzer@pvatepla.com end of ad-hoc-announcement (c)DGAP 15.04.2003 ——————————————————————————– WKN: 746100; ISIN: DE0007461006; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover und Stuttgart 150829 Apr 03