Turbon AG — Earnings Release 2010

Nov 16, 2010

News Details

Ad-hoc | 16 November 2010 10:25

Turbon AG: Nine-months-figures and Outlook

Turbon AG / Key word(s): Quarter Results

16.11.2010 10:25

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Turbon AG - Nine-months-figures and Outlook

The nine-months-figures of the Turbon Group were negatively affected by the
booking of an accrual in the amount of approximately 0.75 million Euro.
This accrual results from the planned consolidation of the USA-activities
of the group into one location in York, Pennsylvania. In this context
Turbon at the moment negotiates the withdrawal from the pension-plan which
applies for the staff at the Cinnaminson, New Jersey location. Turbon will
leave the Cinnaminson location. The accrual has the purpose of covering a
potential liability arising from the termination of the participation in
the pension plan. The earnings figures in the first nine months after
booking the accrual are as follows: Earnings before interest and taxes
(EBIT) were Euro 3.4 million (previous year: Euro 4.5 million), the result
from ordinary operations was Euro 2.7 million (previous year: Euro 3.9
million) and the group net income was Euro 1.5 million following Euro 2.2
million in the previous year. For the whole year of 2010 Turbon
nevertheless expects sales (76.0 million Euro) and also earnings before
taxes (3.8 million Euro) to be in the plan. This includes a book profit of
Euro 0.4 million from the sale of the land in Harlow, England, which took
place in October. For 2011 Turbon plans an increase in sales to 84.0
million Euro and on this basis a profit before taxes of more than 5.0
million Euro. The complete interim report for the third quarter 2010 will
be available following the Supervisory Board Meeting on November 17, 2010
at Turbon AG, Sekretariat, Ruhrdeich 10, 45525 Hattingen or at our website
www.turbon.de.
Hattingen, November 16, 2010
Turbon AG

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Language: English
Company: Turbon AG
Ruhrdeich 10
45525 Hattingen
Deutschland
Phone: +49 (0)2324 - 504-0
Fax: +49 (0)2324 - 504-156
E-mail: info@turbon.de
Internet: http://www.turbon.de
ISIN: DE0007504508
WKN: 750450
Listed: Regulierter Markt in Frankfurt (General Standard),
Düsseldorf; Freiverkehr in Hamburg, München, Berlin,
Stuttgart

End of Announcement DGAP News-Service

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