Armstrong DLW AG
Armstrong DLW AG english
Business Performance of the Armstrong DLW AG for the First Half of 2003
Ad-hoc-announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Interim Report in Accordance with Paragraph 44b of the German Stock Exchange Law
in Connection with Paragraphs 53 ff of the Listing Regulation
Business Performance of the Armstrong DLW AG, Bietigheim-Bissingen,
for the First Half of 2003
Sales Performance
In the first half of 2003, the sales of the Armstrong DLW Group declined from
207.1 million euros to 185.8 millions euros compared to the first half of 2002
and the sales of the Armstrong DLW AG decreased from 85.2 million euros to 76.2
million euros.
The continuing poor overall construction activity throughout Europe had
continuing effects on the sales situation in the first half of this year.
Although the DLW AG sales to overseas increased, these could not compensate for
the losses in Europe.
Earnings
For the Armstrong DLW Group, the net loss for the first half of the year
amounted to 6.4 million euros compared to the past year’s figure of a minus 3.8
million euros and the earnings before taxes were a minus 9.7 million euros
versus the past year’s results of a minus 6.0 million euros. The operating
income at the end of the first half of 2003 was a minus 5.4 million euros
compared to the previous year with a minus 3.9 million euros.
The Armstrong DLW AG shows a net profit of 1.2 million euros for the first half
of 2003 and is thus significantly above the past year’s value of a minus of 0.5
million euros. Pretax profits amounted to 1.1 million euros versus the previous
year’s value of a minus 1.1 million euros. The operating profit at the end of
the first half of the year 2003 totaled 1.7 million euros compared to the past
value of a minus 0.3 million euros.
Orders Received and Orders On Hand
In the Armstrong DLW Group, the orders received were at a level of 185.8 million
euros versus the previous year with 270.5 million euros. The orders on hand
stood at 43.2 million euros, which is below the comparable value for the past
year of 65.1 million euros.
The Armstrong DLW AG received orders amounting to 68.5 million euros compared to
the past period with 78.3 million euros. The orders on hand of 14.7 million
euros are lower than the value for the previous year of 16.7 million euros.
Investments and Financing
The investments for the first half of 2003 for the Armstrong DLW Group stood at
3.9 million euros versus the previous year’s value of 7.0 million euros. The
Armstrong DLW AG invested 1.6 million euros in 2003 and for the past year this
value was 4.3 million euros.
Employees
As of June 30, 2003, the Armstrong DLW Group employed 2517 personnel and the
past total was 2646. The change is basically due to the restructuring in the
Armstrong DLW AG. With the integration of the resilient and carpet flooring
segments in Europe, many positions and areas had redundant elements. In the
future, the entire flooring business will be managed by one team with integrated
departments. The Armstrong DLW AG had 1100 employees as of June 30, 2003 versus
1253 personnel last year.
August 14, 2003
Gerard L. Glenn
end of ad-hoc-announcement (c)DGAP 14.08.2003
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
Future Developments
The poor economic situation in Europe and in particular the overall construction
activity which continues to show no improvement. This will have sustained
effects on the second half of the year for the Armstrong DLW Group. The
integration of both of the large flooring segments, namely the resilient and
carpet business lines, will be completed in all areas during the second half of
the year. The resulting cost savings and the productivity increases will show
their effects in 2004.
The consolidation of sales and the concentration on the segments of health care,
education, retail, office and hospitality will make the Armstrong DLW a strong
market partner for the future.
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WKN: 551800; ISIN: DE0005518005; Index:
Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (General
Standard), Hamburg, Hannover, München und Stuttgart
141902 Aug 03
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