Stinnes AG
Stinnes AG english
Stinnes Success Story Continues
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Stinnes Success Story Continues
The success story of Stinnes AG continues despite a global economic slowdown. In
the first three quarters of 2001, the sales and earnings generated by the
logistics group were once again substantially higher than in the previous year.
The company also expects a higher internal operating profit for the year 2001 as
a whole, which means that Stinnes continues on the successful course that it
has pursued since its IPO in June 1999.
When adjusted for the divested building materials activities, external sales
increased by 17.6 percent to Euro 9.4 billion. This growth was due to the strong
performance of the Transportation and Chemicals divisions as well as the first-
time consolidation of HCI, which was acquired at the end of 2000.
Relative to the same period in the previous year, earnings before interest and
taxes (EBIT) (adjusted for the building materials activities) increased by 19.4
percent to Euro 243.7 million.
The Group’s consolidated internal operating profit – again when adjusted for the
divested building materials activities – increased by 16.8 percent to Euro
187.8 million.
The Group’s consolidated net income amounts to Euro 112 million, which is 11.5
percent below the previous year’s level. However, this year’s net income is not
comparable to the previous year’s level because the tax rate increased relative
to the first nine months of 2000, due to the consumption of tax losses carried
forward. In addition, the previous year’s figures include the positive effects
due to the sale of the building materials activities.
“At the beginning of the year, we had set ourselves highly ambitious targets for
2001”, said Dr. Wulf H. Bernotat, the CEO of Stinnes AG. “During this fiscal
year, we wanted to increase our earnings before interest and taxes (EBIT) by 25
percent, adjusted for the divested building materials activities. Even if we do
not yet know exactly what the figures will be for fiscal 2001 as a whole, it is
already clear that it will not exactly be easy in this difficult economic
environment to achieve a 25-percent EBIT growth. Nevertheless, we stick to the
targets that we have set for 2001.”
end of ad-hoc-announcement (c)DGAP 13.11.2001
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WKN: 726430; Index: MDAX
Listed: Amtlicher Handel in Düsseldorf und Frankfurt; Freiverkehr in Berlin,
Bremen, Hamburg, München und Stuttgart
130739 Nov 01
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