Turbon AG — AGM Information 2003

Jun 12, 2003

News Details

Ad-hoc | 12 June 2003 08:37

Turbon AG english

Turbon – Budget Figures 2003 and 2004 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Turbon AG – Budget Figures 2003 and 2004 At the annual shareholder meeting of Turbon AG taking place today, the Executive Board announced its budget figures for the year 2003 as a whole as well as for 2004. For the year 2003 as a whole Turbon now expects consolidated sales of Euro 135.0 million, which are to grow to Euro 140.0 million in 2004. The decline in consolidated sales against 2002 is due to the change in currency ratios between Euro and US Dollar as well as Euro and Pound Sterling. Sales invoiced by the subsidiaries in the USA and England account for more than 50% of total consolidated sales. On the basis of local currencies Turbon expects a slight increase in sales. With regard to the earning figures Turbon is planning to reach consolidated net income of Euro 4.0 million in 2003 as well in 2004. Furthermore the Executive Board announced to continue the reduction in financial debts until the end of 2004. By then net indebtedness should amount to approximately Euro 12.0 million (Euro 24.7 million as of Dec. 31, 2002). The equity ratio shall increase significantly to approximately 58.0 % at the end of 2004 (46.5 % as of Dec. 31, 2002). Hattingen, June 12, 2003 Turbon AG end of ad-hoc-announcement (c)DGAP 12.06.2003 ——————————————————————————– WKN: 750450; ISIN: DE0007504508; Index: Listed: Geregelter Markt in Düsseldorf und Frankfurt (General Standard); Freiverkehr in Berlin-Bremen, Hamburg und Stuttgart 120837 Jun 03