technotrans SE

Earnings Release • Mar 11, 2003

News Details

Ad-hoc | 11 March 2003 08:00

technotrans AG english

technotrans well-off after successful year of consolidation (FY 2002) Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– technotrans well-off after successful year of consolidation (FY 2002) technotrans, leading systems supplier of equipment for the printing industry and the manufacture of micro technology, reached its profitability targets despite a significant downturn in revenue in 2002. Revenue totalled only EUR 117 million (2001: EUR 131 million, -10.7%), the effect visible in the print segment. Net profit for 2002 nevertheless reached EUR 2.6 million (2001: EUR 3.4 million, -23.4%). It is evident that technotrans has successfully withstood the crisis in the industry by implementing earnings-enhancing measures at an early stage. A one-off burden totalling EUR 3.3 million pre-tax resulted of the creation of a provision for a patent dispute. Excluding one-off effects, the net profit would be EUR 4.7 million (+37%). The originally planned net rate of return of 4.0 percent would therefore have been achieved despite the lower consolidated revenue. Earnings per share according to the International Financial Reporting Standards amounted to EUR 0,40 EUR in 2002 (2001: EUR 0.53). The Board of Management and Supervisory Board will propose the payment of a dividend of EUR 0.20 (previous year EUR 0.23) per individual share certificate with an accounting par value of EUR 1 each to the Shareholders’ Meeting on May 9, 2003. Cash rose by 45% to EUR 7.3 million. Long-term borrowings were reduced by almost EUR 4 million to EUR 15.4 million. A couple of balance sheet key figures improved in 2002: Gearing from 37.7 to 29.5%, working capital from EUR 24.2 to 22.0 million and capital employed from EUR 80.4 to 74.3 million. The number of employees at December 31, 2002 was 621 (-11%). For the 2003 financial year technotrans is planning to achieve revenue totalling between EUR 115 and 120 million, and a net profit between EUR 5 and 5.5 million. The Management nevertheless would like to point out that this year’s targets are subject to insecurity with regard to the overall political situation and the subsequent economic development especially in America. Despite this technotrans is on course for regaining its traditional profitability even in these difficult times. The company is well equipped to handle any recovery in business and Management is looking to the future with optimism. http://www.technotrans.com – here the Annual Report 2002 and the full Press Release are available for download. end of ad-hoc-announcement (c)DGAP 11.03.2003 ——————————————————————————– WKN: 744900; ISIN: DE0007449001; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 110800 Mär 03