Turbon AG — Earnings Release 2003

May 14, 2003

News Details

Ad-hoc | 14 May 2003 08:26

Turbon AG english

Turbon AG – First quarter in line with budget Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Turbon AG – First quarter in line with budget Compared to the same period of the previous year, Turbon Group figures for the first quarter of 2003 have been affected to a major extent by developments in Euro/US dollar and Euro/pound sterling exchange rates. Sales billed in the above foreign currencies in the first three months by foreign subsidiaries in the USA and in Britain accounted for 54.0 per cent of consolidated sales. Negative foreign currency effects came to a total of Euro 3.6 million for consolidated sales. These explanations should facilitate better understanding of the figures below. Consolidated sales in the first three months were Euro 35.7 million (Euro 39.8 million in the previous year). There continued to be growth in non-impact products (in local currencies to compare figures), while the market-related decline in older printing technology (impact products) persisted. Overall, sales of non-impact products accounted for 71.3 percent (Euro 25.5 million; same period of 2002: 66.4 percent) and impact products for 25.5 percent (Euro 9.1 million; same period of 2002: 30.3 percent). Sales of other products account for the remaining 3.2 percent (Euro 1.1 million; same period of 2002: 3.3 percent). Earnings before interest and taxes (EBIT) in the first three months of 2003 were Euro 2.2 million compared to Euro 2.6 million in the previous year. Income from ordinary operations was around Euro 2.0 million after Euro 2.1 million in the previous year. Consolidated net income was around Euro 1.4 million (Euro 1.4 million in the previous year). Earnings per share rose slightly to Euro 0.40 (previous year: Euro 0.39). On the basis of these quarterly figures, we are keeping to the budget figures already published (consolidated sales of Euro 140.0 million and consolidated net income of Euro 4.1 million). However, a requirement of these figures is that no further changes in foreign currency rates occur to the detriment of the US dollar or pound sterling. The full Interim Report for the first three months of 2003 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, May 14, 2003 Turbon AG end of ad-hoc-announcement (c)DGAP 14.05.2003 ——————————————————————————– WKN: 750450; ISIN: DE0007504508; Index: Listed: Geregelter Markt in Düsseldorf und Frankfurt (General Standard); Freiverkehr in Berlin-Bremen, Hamburg und Stuttgart 140826 Mai 03