PVA TePla AG — Earnings Release 2003

Mar 2, 2004

News Details

Ad-hoc | 2 March 2004 08:29

PVA TePla AG: Preliminary Figures for Fiscal Year 2003

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Preliminary Figures for Fiscal Year 2003 (Asslar, March 2, 2003) PVA TePla AG, listed in the Prime Standard segment of the Frankfurt Stock Exchange, today published preliminary, non-audited figures for fiscal year 2003. After stable sales and improved earnings in the first three quarters of 2003 the fourth quarter turned out to be considerably worse than could have been predicted last November. Sales revenues were at around EUR39 million, a slight increase over the previous year (EUR37.8 million). In accordance with US GAAP rules, sales accounted for by the Plasma Systems Division (formerly TePla AG) were reported only for the last two months of 2002, given that the merger with PVA Vakuum-Anlagenbau GmbH took place in November of that year. On an annual basis (pro forma) revenues for the previous year would have been EUR46.7 million. Gross profits improved significantly in 2003. There was an increase in gross margin from around 19% in the previous year to more than 25%. Lower-than-expected revenues resulting from continued investor restraint and a strong euro compared to the dollar, particularly in the group’s semiconductor- related Plasma Systems and Crystal-Growing Systems Divisions, as well as further restructuring costs amounting to around EUR1 million pushed the net profit figure down. The preliminary result from ordinary activities reported for fiscal year 2003 is EUR-5.7 million (previous year EUR-5.0 million, pro forma EUR-9.5 million). The net loss for the year is expected to be around EUR3 million (previous year EUR-3.7 million, pro forma EUR-8.0 million). The group booked incoming orders in the amount of EUR38 million. The backlog of orders after deduction of sales revenues calculated in accordance with the “percentage-of-completion method” totalled EUR11 million, the same level reported at the end of the third quarter. Publication of the complete and audited Annual Report for 2003 will be on March 31, 2004 as planned. Based on a decision taken at the end of 2002 to carry out restructuring measures the Board of Directors began making personnel and capacity adjustments that brought about initial cost reductions in 2003. Further measures affecting the Crystal Growing Systems and the Plasma Systems Divisions in particular, and which it was not possible to undertake until fiscal 2004, should make it possible to move back past the operational break-even point as planned, barring instability in the global economy and the dollar exchange rate. Contact: Peter Banholzer (IR Manager) Tel.: +49 / (0)89 / 90503-106 E-Mail: peter.banholzer@pvatepla.com end of ad-hoc-announcement (c)DGAP 02.03.2004 ——————————————————————————– WKN: 746100; ISIN: DE0007461006; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover und Stuttgart 020829 Mär 04