PSB AG
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PSB AG – Preliminary 6-month earnings for 2003
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Preliminary 6-month earnings for 2003: PSB has not been able to fully isolate
itself from the weak market trend
Ober-Mörlen, 5.8.2003. In the first half of 2003, PSB posted, according to
preliminary calculations, a pre-tax result (EBT) of EUR 1.1 mill., which is 9 %
below the previous year’s figure (EUR 1.2 mill.) in a market which continues to
show signs of slowing. The drop in earnings is, however, mainly attributable to
one-time personnel expenses amounting to EUR 0.4 mill. When adjusted for these
one-time expenses, operating income rose 28 %.
Sales in the first half of 2003 fell 16 % to EUR 65.5 mill. (previous year: EUR
78.3 mill.). The 9% decline in sales in the first quarter continued in the
second quarter with a 23 % drop in sales to EUR 31.5 mill. (previous year: EUR
40.9 mill.).
The Board of Directors anticipates an improvement in net earnings in the second
half of 2003 on account of implemented cost cutting measures, and expects to
post pre-tax earnings of EUR 2.9 mill. for the fiscal year 2003 (previous year:
EUR 2.3 mill.).
The company will publish its full quarterly report on August 14
( http://www.psb.de ).
end of ad-hoc-announcement (c)DGAP 05.08.2003
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WKN: 696760; ISIN: DE0006967607; Index:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannnover und Stuttgart
051343 Aug 03
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