TA Triumph-Adler AG
TA Triumph-Adler AG – Ad-hoc Announcement
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Result for Financial Year 2003
Supervisory Board Appoints New Management Board Member
Nuremberg/Munich, March 30, 2004: TA Triumph-Adler announced its result for
financial year 2003: Consolidated sales in financial year 2003 (Dec. 31)
declined by approximately 24 % to EUR 484 m (previous year: EUR 638 m). This is
due to the sale of the remaining TA Beteiligung companies in June 2003.
Sales in the core business of office communication came to EUR 408 m, matching
the previous year’s level. The Imaging business segment generated EUR 314 m of
this amount (previous year: EUR 304 m) and the Presentation and Media Technology
business segment EUR 94 m (previous year: EUR 104 m). The TA Beteiligung
companies that were sold (consolidated until June 30, 2003) accounted for sales
of EUR 76 m (previous year: EUR 230 m).
The Group’s operating profit (EBITDA) amounted to EUR 14 m (previous year: EUR
35 m), with the Imaging business segment accounting for EUR 40 m of this sum
(previous year: EUR 37 m). The Presentation and Media Technology business
segment achieved a break-even result (previous year: EUR 6 m). The EBITDA of TA
Beteiligung was break-even up to the date of deconsolidation. The company
disposals in 2003 resulted in total expenses of EUR 10 m. In addition, the
Central Division impacted the result by EUR 16 m (previous year: EUR 21 m).
After depreciations from ordinary operations of EUR 28 m (previous year: EUR 33
m), net interest expenses of EUR 11 m (previous year: EUR 16 m) and expenses for
minority interests and taxes totaling EUR 3 m (previous year: EUR 5 m),
earnings before goodwill amortization and deferred taxes came to EUR -28 m
(previous year: EUR -19 m). The consolidated net loss amounted to EUR 26 m
(previous year: EUR 24 m).
Total consolidated assets had declined at the balance sheet date to EUR 435 m
(Dec. 31, 2003: EUR 583 m), with the Group’s bank debt being reduced from EUR
183 m the prior year to EUR 90 m at Dec. 31, 2003.
No dividend will be distributed for financial year 2003.
On March 30, 2004, the Supervisory Board appointed Masahiro Watashi to the
Management Board of TA Triumph-Adler AG, effective May 1, 2004. Mr. Watashi is
an engineer, and as General Manager in charge of product development today at
the Kyocera Mita Corporation, Osaka, the Triumph-Adler major shareholder. Mr.
Watashi will be responsible for all aspects of product planning and engineering
at TA Triumph-Adler.
With the disposal of all remaining TA Beteiligung activities in 2003, Triumph-
Adler Group is now able to focus all internal resources on the core business
Office Communication to further enhance the market leading position in this
attractive market and to return to profitability. The first quarter of 2004 has
confirmed the strategy of concentrating on the core division. This is shown by
the fact that in this period sales of products bearing the TA Triumph-Adler
brand name grew more than 20% over the previous year.
Further details can be obtained from:
TA Triumph-Adler AG, Corporate Communication / IR, Phone: +49/89/641902-58, Fax:
+49/89/641902-90, presse@triumph-adler.de, http://www.triumph-adler.de ,
Mailing address: TA Triumph-Adler AG, Suedwestpark 23, D-90449 Nuremberg,
Germany
Brief corporate profile:
TA Triumph-Adler AG was transformed into a tightly focused distribution and
service business with a leading franchise in the future market of digital office
communication.
The Triumph-Adler core business distributes and services digitalized systems for
copying, printing, faxing, presenting and archiving.
Triumph-Adler is market leader in the segment Imaging in Germany. The segment
Presentation and Media Technology has a strong market position in Europe.
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 believes 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 future results actually achieved will match 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 30.03.2004
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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
302016 Mär 04
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