PVA TePla AG — Earnings Release 2004

Aug 13, 2004

News Details

Ad-hoc | 13 August 2004 08:28

Business volume expansion in 2nd quarter/ Positive quarterly

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– PVA TePla AG: Business volume expansion in 2nd quarter/ Positive quarterly results and outlook Highlights: Q2 /04 Q2 / 03 HY1 / 04 HY1 / 03 Incoming orders 15.1 11.3 26.1 22.7 Order backlog 17.7 14.8 17.7 14.8 Revenues 11.4 11.1 19.7 19.5 Gross profit 3.8 3.0 5.4 5.6 Operating profit (EBIT) 0.4 -1.1 -1.2 -2.9 Result for period 0.2 -0.5 -0.7 -1.1 All figures are consolidated and disclosed in EUR million on the basis of US GAAP. Asslar, 13.08.2004: In the second quarter of 2004, PVA TePla AG succeeded in significantly expanding its volume of business. Incoming orders and the order backlog rose by around 20% in a year-on-year comparison and by around 25% compared to the first quarter of 2004. Sales revenues were also increased by 37% relative to Q1/2004. Business expansion was achieved across all divisions of the company. In the second quarter of 2004, the gross profit increased to 33% of sales, marking a significant improvement on the same period of 2003 and the first quarter of 2004. This effect, and the results of the cost reduction measures that have now been largely completed, were major factors contributing to a substantial improvement in profits. An operating profit (EBIT) of EUR 0.4 million and a net income of EUR 0.2 million were achieved in the second quarter of 2004. This means that, for the first time since the merger in November 2002, PVA TePla AG has now returned to the profit zone. Profits were also improved substantially in a year-on-year comparison of half-year figures. The EBIT figure for the first half of the year came in at EUR -1.2 million (HY1/2003: EUR -2.9 million), and the net income for the period at EUR -0.7 million (HY1/2003: EUR -1.1 million, including special effects). Cash flow from operating activities, at EUR 1.2 million (HY1/2003: EUR -3.1 million), was positive in the first six months of the year. Development of innovative products was pursued in a concentrated manner, and the product portfolio of the Crystal Growing Systems division was strategically broadened. With this as a basis, and with optimised cost structures, a substantial upswing in incoming orders and better forecasts for the relevant markets from leading economics institutes, the Board of Management is able to confirm its previous forecasts and expects a positive operating result for the second half of 2004. Contact: Peter Banholzer (IR Manager) Tel.: +49 / (0)6441 / 802-112 E-Mail: peter.banholzer@pvatepla.com end of ad-hoc-announcement (c)DGAP 13.08.2004 ——————————————————————————– WKN: 746100; ISIN: DE0007461006; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover und Stuttgart 130828 Aug 04