Phoenix AG
Successful performance in 2003 for the Phoenix Group
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Successful performance in 2003 for the Phoenix Group
Consolidated revenues of the Phoenix group for financial 2003 were up 1.9% over
the previous year to EUR 1,153.0 million (PY EUR 1,131.6 million). Restated to
reflect changes in consolidation and the effects of currency translation,
revenues were up approximately 5%. Earnings before interest and taxes on income
increased 9.6% to EUR 35.5 million (PY EUR 32.4 million). As a result of
substantial improvement in extraordinary items, which came to a negative EUR 3.7
million (PY EUR -12.4 million), and lower taxes, consolidated profit for the
year came to EUR 5.5 million (PY EUR -7.4 million) (with a loss for the parent
company).
Segmental information
Comfort Systems (CS): Revenues EUR 549.8 million (+2.8%), EBIT EUR 13.2 million
(+20.0%)
of which CS Automotive: Revenues EUR 467.6 million (+3.0%)
of which CS Traffic Technology: Revenues EUR 82.2 million (+2.0%).
Fluid Handling (FH): Revenues EUR 329.0 million (-1.9%), EBIT EUR 29.9 million
(+3.0%)
of which FH Industry: Revenues EUR 96.8 million (-17.3%)
of which FH Automotive: Revenues EUR 232.2 million (+6.4%).
Conveyor Belt Systems: Revenues EUR 135.1 million (+4.6%), EBIT EUR 8.6 million
(-10.8%).
Other business units: Revenues EUR 139.1 million (+5.0%), EBIT EUR -3.2 million
EUR.
The Management Board and the Supervisory Board will propose that no dividend be
paid at the Annual Shareholders’ Meeting.
Outlook
The positive development of financial 2003 carried over into the first quarter
of the current year. Although German automobile production remained at the
previous year’s level, the Phoenix group’s revenues from sales to carmakers
developed positively. Despite the difficult economic environment, the market
shares of Phoenix products sold to other industries also increased. Due to
measures taken last year, earnings outpaced sales. Given this situation, Phoenix
expects to end the current year with higher revenues and significant
improvement in earnings performance.
For further information, please see the press release or the annual report in
the Internet at http://www.phoenix-ag.com in the “News” or “Investor Relations”
area.
end of ad-hoc-announcement (c)DGAP 27.04.2004
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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
270835 Apr 04
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