Turbon AG — Earnings Release 2005

May 27, 2005

News Details

Ad-hoc | 27 May 2005 08:28

Turbon AG – Figures for three months

Ad hoc announcement §15 WpHG Turbon AG – Figures for three months Turbon AG – Figures for three months Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— Consolidated sales in the first three months of 2005 were Euro 29.7 million compared to Euro 34.2 million in the prior-year period. Euro 3.9 million of this decline in sales were accounted for by the individual product areas and were due to the continuing price decline in non-impact products and the market-related decline for impact products. Another Euro 0.6 million of this decline was currency-related and resulted after translating the sales invoiced by our subsidiaries in foreign currencies (particularly the US dollar) into Euro. Earnings before interest and taxes (EBIT) were Euro 1.3 million in 2005 after Euro 2.1 million in the previous year. Income from ordinary operations was around Euro 1.0 million after Euro 1.9 million and consolidated net income was Euro 0.7 million after Euro 1.4 million in the previous year. Earnings per share were Euro 0.20 after Euro 0.38 in the previous year. However, to be noted with regard to the prior-year figures is the fact that the greater part of earnings for the whole 2004 financial year were made in the first quarter. For example, consolidated net income for the first quarter of 2004 comprised 61% of consolidated net income for the whole of 2004. As things look today, we can largely stand by our previously published outlook for the 2005 financial year as a whole. We are implementing our plans consistently on the cost side in particular, and will be able to reap the benefits partly in the second quarter, but primarily in the third and fourth quarters. Knowing that, there is also an urgent necessity to accomplish such savings in the face of the continuing intensive price competition. We expect a reversal of the trend for sales starting from the second half of the year, i.e. that sales will rise compared to the same quarters of 2004. And we also expect this rise in sales not only in volume but also in Euro, therefore, i.e. the higher quantity should exceed the decline in price. Nevertheless, we are reducing our sales forecast for 2005 slightly to Euro 122.0 million while retaining our earnings forecast of Euro 3.0 million (group net income) for 2005 as a whole. The full Interim Report for the first three months of 2005 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, May 27, 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 27.05.2005 270828 Mai 05