Stinnes AG
Ad hoc-Service: Stinnes AG english
Ad hoc announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Stinnes AG: High Double-Digit Growth Rates in First Quarter of 2001
In the first quarter of the year 2001, Stinnes AG has substantially improved
its performance relative to the first quarter of 2000. The Interim Report from
January 1 to March 31, 2001 can be summarized as follows:
The Stinnes Group’s external sales increased by 6.9 percent relative to the
first quarter of 2000. When adjusted for the building materials activities that
were divested last year, external sales increased by 24.5 percent to
Euro 3.2 billion relative to the first quarter of the previous year. This
growth was mainly due to the strong performance of the Transportation Division
and the Chemicals Division, as well as the first-time consolidation of Holland
Chemical International (HCI), which Stinnes acquired last year.
Relative to the same period in the previous year, the Group’s consolidated
earnings before interest and taxes (EBIT) increased by 53.3 percent to
Euro 78.3 million. When adjusted for the building materials business, the
Group’s EBIT increased by 23.8 percent.
The Group’s consolidated internal operating profit soared by 81.0 percent to
Euro 56.7 million. When adjusted for the divested building materials
activities, the increase was 17.3 percent relative to the previous year. This
growth was again due to the strong performance of the Transportation Division
and the Chemicals Division.
The Group’s consolidated earnings before income taxes increased by 97.4 percent
to Euro 71.9 million, i.e. earnings nearly doubled relative to the same period
in the previous year. This was due not only to the positive development of the
internal operating profit but also to the book gains on the sale of the
Nassauer Hof hotel.
Relative to the first, quarter of 2000, the Group’s consolidated net income
increased by 75.4 percent to Euro 39.7 million. At the end of the first
quarter, earnings per share already amounted to Euro 0.52, which was
substantially higher than the level reached at the end of the first quarter of
2000 (Euro 0.30). The earnings per share generated by Stinnes in fiscal 2000 as
a whole amounted to Euro 1.98.
end of ad hoc announcement (c) DGAP 16.05.2001
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WKN: 726430; Index: MDAX
Listed: Amtlicher Handel in Düsseldorf und Frankfurt; Freiverkehr in Berlin,
Bremen, Hamburg, München und Stuttgart
160836 Mai 01
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