P&T Technology AG
P&T Technology AG english
High losses in the third quater – Switch into the Geregelter Markt
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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The listed company P&T Technology AG, Hamburg, closes the first nine months of
2002 with consolidated revenues of EUR 21.2 million (EUR 129.6 million in the
comparable period of 2001). The low revenues are based on the complete absence
of the foreign wind farms, whose implementation was planned for 2002, and the
discontinuation and postponement of German wind farms. The EBIT of the first
nine months of EUR -19.8 million (EUR 5.4 million in the comparable period of
2001) is the result of revenues realised at excessive ongoing costs combined
with write downs on foreign subsidiaries and foreign projects. The write downs
are the initial result of the necessary, rigorously value-oriented examination
of existing projects in terms of their short-term financing and marketability.
Group net income was EUR -14.5 million (EUR 3.5 million in the comparable period
of 2001), equating to a DVFA result of EUR -1,261 per share. Here EECH
developed pleasingly, producing a positive contribution to EBIT results of EUR
1.0 million in the first nine months of its first complete financial year.
In coordination with the Supervisory Board, the Managing Board, which was
reconstituted as of October 1, 2002, resolved to concentrate in the core
business area Wind on reduced German business and the European markets of
France, Spain and Italy. A more streamlined organisational structure and the
necessary disposal of projects which have been initiated is intended to create
the foundation for the short-term safeguarding and the sustained development of
the company in the currently difficult liquidity situation.
As of December 30, 2002, P&T with the consent of Deutsche Börse AG will
terminate the listing of the P&T share on the Neuer Markt and commence listing
on the Geregelter Markt of the Frankfurt Stock Exchange from January 1, 2003.
end of ad-hoc-announcement (c)DGAP 27.12.2002
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WKN: 685 280; ISIN: DE0006852809; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München, Stuttgart
270827 Dez 02
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