Turbon AG — Earnings Release 2002

Nov 13, 2002

News Details

Ad-hoc | 13 November 2002 08:53

Turbon AG english

Turbon – Increase of sales and earnings Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Turbon – Increase of sales and earnings The Turbon Group, the leading manufacturer of compatible imaging supplies for computer printers, was successful in increasing both sales and earnings in the first nine months of 2002 compared to the corresponding period in the previous year. Consolidated sales in the first nine months of 2002 were Euro 113.6 million (previous year Euro 111.2 million). The increase in sales is due to the highly positive development in the sector of new technologies (non-impact products). Sales of these products rose in the first nine months of 2002 by 12.9 percent to Euro 76.5 million. The currency effects within the scope of the consolidation of sales in US-Dollar and GB-Pound prevented a lager growth in consolidated sales (see the more detailed Interim Report). Overall, non-impact products (laser cartridges, ink jet, TTR) accounted for 67.3% of sales (previous year 60.9%), impact products (ink ribbon cartridges) for 29.1% (previous year 35.0%) and other products for 3.6% (previous year 4.1%) of sales. Earnings before interest and taxes (EBIT) were Euro 6.4 million in the first nine months of 2002 (previous year Euro 6.3 million). Income from ordinary operations was Euro 4.5 million (previous year Euro 3.7 million). Consolidated net income rose to Euro 2.9 million (previous year Euro 2.4 million). Earnings per share as per IAS 33 were Euro 0.80 (previous year 0.64 Euro). Based on the aforementioned figures, Turbon expects consolidated sales of Euro 152.0 million to Euro 153.0 million for the year 2002 as a whole. This expectation includes a currency effect of approximately Euro 3.0 million as a result of the consolidation of foreign sales. We continue to expect a significant rise in earnings for 2002 as a whole. We anticipate consolidated net income of Euro 3.5 million. The full Interim Report for the first nine months of 2002 can be requested from Turbon AG (Secretariat, Ruhrdeich 10, 45525 Hattingen). You will also find the report on our website at www.turbon.de. Hattingen, November 13, 2002 Turbon AG end of ad-hoc-announcement (c)DGAP 13.11.2002 ——————————————————————————– WKN: 750450; ISIN: DE0007504508; Index: Listed: Geregelter Markt in Frankfurt (SMAX), Düsseldorf; Freiverkehr in Stuttgart, Berlin, Hamburg 130853 Nov 02