Turbon AG — Earnings Release 2006

Aug 21, 2006

News Details

Ad-hoc | 21 August 2006 20:18

Turbon AG:Figures for six 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 six months In the first half of 2006 consolidated sales compared to first half of 2005 grew by 7.6 million Euro to 65.4 million Euro. Earnings before Interest and taxes (EBIT) in the first half of 2006 were 1.7 million Euro compared to 1.9 million Euro in the previous year. Income from ordinary operations was 1.3 million Euro compared to 1.4 million Euro in the previous year and net income was equal to the same period of 2005 0.9 million Euro. The earnings figures are below our expectations. Reason are lower than expected sales in the second quarter. Despite significantly higher sales than in the same period of 2005 the shortfall compared to the first quarter was larger than expected. In addition to this we used when preparing the financial statements for the half year for the first time a revised method for the elimination of profits from intra-group sales. This change in method resulted in a negative income effect of 0.2 million Euro. Earnings per share were calculated at 0.23 Euro after 0.25 Euro in the previous year. The calculation was based on average shares issued of 4,042,000 compared to 3,640,917 for first half of 2005. For the second half we expect the sales growth to continue and this strengthened by the additional customers taken over in an acquisition in the first half of August. The sales growth combined with the continuation of intensive cost cutting measures should result in respective positive earnings figures. Nevertheless from today’s point of view we revise our present prognosis of net earnings exceeding three million Euro in 2006 by one million Euro to the downside. The full Interim Report for the first six 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, August 21, 2006 Turbon AG (c)DGAP 21.08.2006 ————————————————————————— 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 ——————————————————————–