Sanofi-Aventis S.A.
Ad hoc-Service: Aventis S.A.
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March 23, 2000
AVENTIS ANNOUNCES PRO FORMA 1999 YEAR-END RESULTS
Life Science businesses post 24 percent growth in pro forma
net income before exceptionals
Underlying strong performance impacted by exceptionals
Strasbourg, France – Aventis today reported unaudited 1999
consolidated pro forma group sales of 20.452 billion euros
(1998: 20.943 billion) and pro forma net income before
exceptionals of 692 million euros (1998: 729 million).”Due
to the level of exceptionals and one-time items, the strong
underlying performance of our combined businesses is better
reflected in the pro forma figures, which present Aventis in
its current structure retroactively for 1999 and 1998,” said
Patrick Langlois, Chief Financial Officer of Aventis.
Compared with 1998, pro forma sales by the life science
businesses – Aventis Pharma and Aventis Agriculture –
increased in 1999 by 4 percent to 18.406 billion euros; net
income by the life sciences businesses increased before
exceptionals by 24 percent to 745 million euros. For the
life science businesses pro forma earnings per share before
exceptionals amounted in 1999 to 0.96 euro (1998: 0.77
euro); for the Aventis Group the corresponding earnings per
share were 0.89 euro (1998: 0.93 euro).
The audited statutory results for 1999 show consolidated
sales for Aventis of 12.598 billion euros (1998: 13.232
billion) and a loss after taxes of 970 million euros (1998:
after tax profit of 644 million). The statutory consolidated
results of Aventis encompass fiscal 1999 for Rhone-Poulenc
S.A. and Hoechst AG for the 15 days between the creation of
Aventis on December 15 through the end of 1999.
“We aim to achieve EBITDA growth of 15 percent on average
over the next three years”
Jürgen Dormann, Chairman of the Board of Management,
summarized the goals for the year 2000: “Our top priority is
to increase our profitability and realize the planned
synergies. The share of sales accounted for by new and
patented products is expected to increase substantially,
above all in the U.S. As already announced, we are aiming to
rapidly divest the remaining industrial businesses and non-
core assets. We aim to achieve average EBITDA (earnings
before interest, taxes, depreciation and amortization)
growth of 15 percent for Aventis over the next three years,
which is expected to have a strong impact on the growth of
our future EPS. And finally, we want to focus on the
integration of our businesses into strong, unified
entities.”
Proposed dividend of 0.45 euros to be distributed on June 4,
2000
“Although our financial statements include a high level of
exceptional items, we will propose to our shareholders a
dividend of 0.45 euros per share,” said Patrick Langlois,
Chief Financial Officer of Aventis. Together with the French
tax credit, the “avoir fiscal”, amounting to 50 percent of
the dividend, the gross dividend per share will be 0.675
euros. The total dividend payment, which is scheduled for
June 4, 2000, will be around 351 million euros.
Aventis is a world leader in life sciences. Focused on two
core business areas – pharmaceuticals and agriculture –
Aventis is dedicated to improving life through the discovery
and development of innovative products in the fields of
prescription drugs, vaccines, therapeutic proteins, crop
production and protection, animal health and nutrition. The
global corporate headquarters are in Strasbourg, France.
More information on the 1999 financial statements of Aventis can be
found on the Internet:
www.aventis.com
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