Rheinmetall AG — Earnings Release 2003

May 22, 2003

News Details

Ad-hoc | 22 May 2003 08:41

Rheinmetall AG english

Rheinmetall: sound start into 2003-order situation healthy, earnings stable Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Rheinmetall: sound start into 2003-order situation healthy, earnings stable The Düsseldorf-based Rheinmetall Group has had a sound start into 2003, its Q1 sales of EUR 1,018 million only slightly short of the Q1/2002 EUR 1,024 million. Adjusted for changes in the consolidation group, this is a gain of 4 percent. The chief contributors toward this organic growth were the sectors Defence (up 9 percent) and Automotive (up 3 percent). Sales by Electronics were at the like- for-like year-earlier level. A healthy order backlog will help nurture the Rheinmetall Group’s ongoing organic growth: in the course of Q1/2003, order intake climbed 12 percent, order backlog advancing by 9 percent. Thanks to its successful restructuring efforts and despite again hostile conditions, Rheinmetall is continuing steadily along the profitability path. Most of the earnings advances were generated by Automotive. In terms of results of operations, Electronics managed to show a slight enhancement, the earnings contraction shown being mainly due to the divestment of Heimann Systems GmbH, as of the end of November 2002. As in previous years and because of the seasonal sales cycles typical of the public sector, Defence closed the quarter with negative earnings. In terms of EBIT, however, Rheinmetall DeTec showed a slight improvement over the year-earlier figure. Q1/2003 EBIT of Rheinmetall Group added up to EUR 22 million (decline of EUR 4 million). In the case of EBT, a marked reduction in debts and the related improvement in the net financial result have led to an increase to EUR 3 million from the Q1/2002 EUR 1 million. For fiscal 2003 as a whole and assuming stable overall economic conditions, Rheinmetall is planning on continued organic growth plus improved results of operations. end of ad-hoc-announcement (c)DGAP 22.05.2003 ——————————————————————————– WKN: 703000; ISIN: DE0007030009; Index: MDAX Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (Prime Standard) und Hamburg; Geregelter Markt in München und Stuttgart 220841 Mai 03