Turbon AG — Earnings Release 2004

Aug 16, 2004

News Details

Ad-hoc | 16 August 2004 08:29

Turbon AG – Figures for six months

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Turbon AG – Figures for six months Consolidated sales in the first six months were Euro 64.8 million compared to Euro 68.6 million in the previous year. In the course of the consolidation of the group sales the negative currency effect came to a total of Euro 2.2 million. The remaining decline in sales of Euro 1.6 million was mainly accounted for the market-related decline of impact and other products. Sales in the area of non-impact products rose slightly, after adjustment to take account of exchange rate effects. Sales of Laser Cartridges (share of consolidated sales 1- 6/2004: 57.6 percent) as our main product rose, adjusted by currency effects, by 4.7 percent. Earnings before interest and taxes (EBIT) were Euro 3.5 million (p.y.: Euro 4.0 million), income from ordinary operations was Euro 3.0 million (p.y.: Euro 3.5 million). Consolidated net income was Euro 2.1 million (p.y.: Euro 2.3 million). Earnings per share were Euro 0.59 (p.y.: Euro 0.65). The drop in the earning figures results mainly from the ongoing price competition. The current expansion of plant facilities in Thailand and Romania, and the transition of production away from locations with higher production costs which has been made possible by this expansion, will, together with cost reductions for primary products, help to maintain our position in the market, a market which remains subject to intense price competition. It will only be possible to increase the operating result by increasing sales. We expect our efforts to yield positive results in this regard from the fourth quarter onwards, particularly in the USA. As things look today we expect a weaker development in the third quarter compared with last year. For the fourth quarter we expect our greatly increased sales efforts to produce a positive effect, in particular in the USA. Based on these considerations, we are keeping to the budget figures we have already published, but are orientating ourselves towards the lower end of the range named; this would correspond to consolidated sales of Euro 130.0 million and consolidated net income of Euro 3.5 million for the whole of 2004. The full Interim Report for the first six months of 2004 can be requested from Turbon AG (Secretariat, Ruhrdeich 10, 45525 Hattingen). You will also find the report on our website at http://www.turbon.de . Hattingen, August 16, 2004 Turbon AG end of ad-hoc-announcement (c)DGAP 16.08.2004 ——————————————————————————– WKN: 750450; ISIN: DE0007504508; Index: Listed: Geregelter Markt in Düsseldorf und Frankfurt (General Standard); Freiverkehr in Berlin-Bremen, Hamburg und Stuttgart 160829 Aug 04