Turbon AG — Earnings Release 2006

Nov 24, 2006

News Details

Ad-hoc | 24 November 2006 16:22

Turbon AG:Figures for nine months

Ad hoc announcement transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. —————————————————————————— Turbon AG – Figures for nine months In today’s meeting of Supervisory Board and Executive Board of Turbon AG several decisions of high importance for the Turbon Group have been taken. The Executive Board in future will be composed of Messrs. Howard, Marth and Pages as well as the new member Aldo Deluca. Messrs. Deluca and Howard will serve going forward as joint spokesmen of the Executive Board. In the first nine months of 2006 consolidated sales compared to first nine months in 2005 grew by 9.2 million Euro respectively 10.6 percent to 96.4 million Euro. Sales in the core area of Laser Cartridges grew by 24.7 percent to 70.7 million Euro. To protect long term profitability of the Turbon Group Executive Board and Supervisory Board have, based on the analysis of problem areas, decided on the closing of the injection moulding operation in Hattingen to a large extend as well as the closing of the whole location in Leeuwarden, Netherlands. The closings will from second half of 2007 result in a significant improvement of the cost structure in Europe and consequently will result in a considerably improved profitability of the whole Turbon Group of companies. One time expenses resulting from the closings will amount to 3.0 million Euro, with the consequence, that the already existing restructuring accrual in the amount of 0.6 million Euro needs to be increased by 2.4 million Euro. This increase in accrual has been booked affecting profits as of September 30, 2006. Earnings before interest and taxes (EBIT), excluding the accrual, in the first nine months of 2006 were 1.3 million Euro compared to 3.0 million Euro in the prior year. Income from ordinary operations was 0.4 million Euro compared to 2.1 million Euro in the prior year. With the inclusion of the restructuring accrual there was a loss before taxes of 2.0 million Euro compared to profit before taxes of 2.1 million Euro in the prior year. After consideration of taxes on income there was a net loss of 2.1 million Euro compared to net earnings of 1.4 million Euro in the prior year. Loss per share was calculated at 0.52 Euro compared to a profit per share of 0.39 Euro in the prior year. For Q4 2006 sales of above 33.0 million Euro are planned. On this basis a slight profit can be expected for Q4/2006. Thru the combination of cost reductions and the continuation of sales growth consolidated sales of considerably more than 140 million Euro and profitability tieing in with the success of former years 2002 and 2003 are expected for the coming year 2007. The full Interim Report for the first nine months of 2006 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 24, 2006 Turbon AG (c)DGAP 24.11.2006 ————————————————————————— Language: English Issuer: Turbon AG Ruhrdeich 10 45525 Hattingen Deutschland Phone: +49 (0)2324 – 504-0 Fax: +49 (0)2324 – 504-156 E-mail: info@turbon.de WWW: info@turbon.de ISIN: DE0007504508 WKN: 750450 Indices: Listed: Geregelter Markt in Frankfurt (General Standard), Düsseldorf; Freiverkehr in Berlin-Bremen, Hamburg, München, Stuttgart End of News DGAP News-Service —————————————————————————