TA Triumph-Adler AG
TA Triumph-Adler AG – Ad-hoc Announcement as stipulated by Art. 15 WpHG
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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– Operating result significantly increased by Sept. 30, 2004
– Restructuring expense impacts Group result
– Extensive restructuring of Group financing completed
Nuremberg, November 11, 2004: TA Triumph-Adler AG generated sales of EUR 281.0
million in the Group in the nine months to September 30, 2004. Adjusted for
changes to the scope of consolidation, Group sales were five percent lower
than in the same period in the previous year (EUR 295.7 million). The
operating result (EBIT before one-time effects) was greatly increased. Whereas
this came to EUR -1.2 million in the previous year’s period, it increased in
the reporting period to EUR 4.2 million. The inflow of funds from ordinary
operations also improved, from EUR 1 million in the previous year’s period to
EUR 28.3 million now.
The nine-month loss was reduced from EUR -10.9 million in the previous year’s
period to EUR -7.9 million.
In the core business segment of Imaging (copiers, printers), which generates
around 82 percent of Group sales, sales increased slightly to EUR 229.0
million (previous year: EUR 228.3 million). The EBIT improved in the Imaging
segment by around 23 percent, from EUR 12.5 million in the previous year’s
period to EUR 15.4 million now.
In the Presentation and Media Technology (PMT) business segment, sales of EUR
52.0 million were generated in the reporting period compared to EUR 67.4
million in the previous year’s period. The EBIT came to EUR -3.3 million
(previous year: EUR -1.9 million).
Against the backdrop of the unsatisfactory business performance the decision
was taken to strategically reposition the PMT business segment. This
repositioning will involve moving ahead with merging and integrating the
activities of the PMT segment into the Imaging business in those countries and
locations where the company’s Imaging business activities are strong. Where it
is not possible to combine these activities, or where it does not make sense
from the business point of view, the company will examine options to sell.
The integration of the PMT distribution business into the Imaging distribution
was begun as part of the implementation of this new concept. The CAN.media
Group, consistently operating at a loss, and whose business activity lies
outside the new strategic objectives, was sold in August 2004. Likewise, the
non-profitable activities in France have since been given up.
Expenditures in the Central division were significantly reduced. The EBIT came
to EUR -7.9 million (previous year: EUR -11.8 million). This figure includes
pension costs amounting to EUR 5.7 million.
The restructuring of Group financing has meanwhile been completed. A capital
increase which has already been placed, comprising around 5.8 million new
shares, will result in an inflow of around 15 million euros in funds to the
company. Further, mezzanine capital in the order of EUR 30 million has been
made available to the company, and liabilities to banks have been combined
into one syndicated loan of EUR 70 million. The new financing structure
financially secures the completion of the restructuring measures and provides
the opportunity for investments in growth.
The balance sheet total came to EUR 418.4 million on September 30, 2004,
compared to EUR 435.4 million on December 31, 2003. The group employed 1,731
staff at the reporting date (previous year: 1,855 employees).
Further details can be obtained from:
TA Triumph-Adler AG, Uschie Wühr, Phone: +49(0)89/510 84-914, Fax: +49(0
89/51084-912, presse@triumph-adler.de, www.triumph-adler.de, Mailing address:
TA Triumph-Adler AG, Suedwestpark 23, D-90449 Nuremberg, Germany
Important Information:
This press statement contains forward-looking statements that are based on the
assumptions and estimations of the management of TA Triumph-Adler AG. Even
though the management is of the opinion that these assumptions and estimations
are correct, the actual future development and the actual future results of
these assumptions and estimations may deviate materially owing to many
different factors. These factors could include, for example, a change in the
overall economic situation, exchange rates, interest rates as well as changes
in the development of the market and changes to the competitive situation
arising from technological change. TA Triumph-Adler AG undertakes no guarantee
that the future development and the actual future results achieved will meet
the assumptions and estimations expressed in this press statement, nor does it
assume any liability in this regard.
end of ad-hoc-announcement (c)DGAP 11.11.2004
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WKN: 749500; ISIN: DE0007495004; Index:
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, München und Stuttgart
110758 Nov 04
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