Turbon AG — Earnings Release 2005

Aug 30, 2005

News Details

Ad-hoc | 30 August 2005 08:25

Turbon AG – Figures for six months

Ad hoc announcement §15 WpHG Figures for six months 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 2005 amounted to Euro 57.8 million (p.y. Euro 65.1 million). By this the sales figures of the first six months of 2005 largely correspond to the outlook given. In Q2 consolidated sales were Euro 2.8 million behind the corresponding figure of the previous year. The overall decline amounts to Euro 7.3 million, thereof Euro 1.2 million currency-related and Euro 6.1 million of the decrease were due inter alia to price decline and a market-related decline in the area of impact products. In addition to this the effect of the already reported loss of a large customer was still being felt. The sales to new customers, which will offset this loss of sales, will mostly become effective in the second half of this year. From Q3 we expect increasing sales compared with previous year figures so that a considerable amount of the decline from the first half should be made up in the second half of the year. EBIT in the first half 2005 were Euro 1.9 million (p.y. Euro 3.5 million), income from ordinary operations was Euro 1.4 million (p.y. Euro 3.0 million) and consolidated net income was Euro 0.9 million (p.y. Euro 2.1 million). Whereas in the entire second half of 2004 consolidated net income amounted to approximately Euro 0.2 million we expect a significantly better performance in the second half of 2005. Due to this we expect a net income for the whole of 2005 between Euro 2.5 and 3.0 million. Takeover offer of Adsero: We have been informed by Adsero as well as by LOM, the investment bank representing Adsero, that meetings with several investors have been concluded, financing activities have progressed and discussions and negotiations with additional prospective investors are continuing. Adsero is now anticipating before October 15th as the closing date for the acquisition of additional 328,500 shares currently held by Turbon AG itself. Based on this information we agreed to an additional move of the acquisition date to on or before October 15th, 2005. In addition it was agreed with Adsero that immediately subsequent of the acquisition a schedule regarding the take over offer to all Turbon shareholders will be presented by Adsero. The full Interim Report for the first six months of 2005 can be requested from Turbon AG (Ruhrdeich 10, 45525 Hattingen). You will also find the report on our website at http://www.turbon.de. Hattingen, August 30th 2005 Turbon AG Turbon AG Ruhrdeich 10 45525 Hattingen Deutschland ISIN: DE0007504508 WKN: 750450 Listed: Geregelter Markt in Düsseldorf und Frankfurt (General Standard); Freiverkehr in Berlin-Bremen, Hamburg und Stuttgart End of ad hoc announcement (c)DGAP 30.08.2005 300825 Aug 05