Phoenix AG
Phoenix AG reports profit jump in the first half
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Phoenix AG reports profit jump in the first half
Turnover of the first six months of the current fiscal year significantly
exceeded the level of the previous year. Turnover amounted to EUR 509.6m.
compared to EUR 473.7m. EBIT amounted to EUR 33.9m. (previous year: EUR 23.2m.).
This represents an EBIT margin of 6.7% (previous year: 4.9%). The net profit in
the first half was EUR 19.2m. after EUR 5.1m. in the previous year. Net debt as
of June 30th was reduced by EUR 68.0m. to EUR 272.4m. (2004, June 30th: EUR
340.4m.).
In detail:
Comfort Systems: Turnover EUR 186.6m. (+9.8%), EBIT EUR 6.5m. (+3,2%)
thereof Comfort Systems Automotive: Turnover EUR 141.7m. (+14.2%)
thereof Comfort Systems Traffic Technology: Turnover EUR 45.0m. (-2.0%).
Fluid Handling: Turnover EUR 169,5m. (+3.2%), EBIT EUR 21.6m. (+24.9%)
thereof Fluid Handling Automotive: Turnover EUR 126.2m. (+10.4%)
thereof Fluid Handling Industry: Turnover EUR 44.4m. (-13.6%).
Conveyor Belt Systems: Turnover EUR 74.8m. (+7.8%), EBIT EUR 5.1m. (-1.9%).
Other Business Units: Turnover: EUR 135.1m. (+3.4%), EBIT EUR 0.6m.
Outlook:
The further development of the global economy will also influence the
performance in the second half of the current fiscal year. The development of
raw material prices and exchange rates will have a major impact on the earnings
development of Phoenix AG. From today’s perspective, Phoenix anticipates a
significant improvement of both turnover and earnings compared to the previous
year, also in the second half. In fact, the extraordinary good figures of the
first half could definitely not be expected in the second half due to seasonal
effects. As already in the first six months of this year, a positive cash flow
will be generated also in the second half. This leads us to the conclusion that
from today’s perspective, net debt by December 31st should be significantly
below the previous years’ level.
More details are available in the press release or the quarterly report on the
web page http://www.phoenix-ag.com in the section “News” and “Investor
Relations” respectively.
end of ad-hoc-announcement (c)DGAP 11.08.2004
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WKN: 603100; ISIN: DE0006031008; Index: SDAX
Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (Prime
Standard), Hamburg und München; Freiverkehr in Stuttgart
110816 Aug 04
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