TA Triumph-Adler AG
TA Triumph-Adler AG: Strong emphasis on restructuring in fiscal year 2004
Ad hoc announcement §15 WpHG
Preliminary Results 2004
TA Triumph-Adler AG: Strong emphasis on restructuring in fiscal year 2004
Ad hoc announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
——————————————————————————
Significantly smaller net loss; net cash from operating activities; stable
equity ratio
Nuremberg, March 24, 2005: TA Triumph-Adler AG today announced its preliminary
figures for fiscal year 2004. These show that TA Triumph-Adler generated
Group sales of EUR 385.8 million in fiscal year 2004, 20.3 % lower than the
previous year. Adjusting the sales of the previous year for participations
divested prior to the 2003 balance sheet date, 2004 sales were 5.4 % lower
than the 2003 adjusted Group sales of EUR 407.8 million. The decline in
performance was due to lower sales in the Presentation and Media Technology
business segment. The strategic repositioning of this segment and the
concentration of business operations is now completed. In the core business,
namely selling and servicing copiers, printers and fax machines to corporate
customers, sales rose by 2.7 % from EUR 313.6 million to EUR 322.2 million.
The Group’s export ratio was approximately 17 % in 2004.
TA Triumph-Adler generated a consolidated operating profit (EBIT) of EUR 11.2
million before extraordinary effects, interest, taxes and goodwill
amortization. There was a consolidated operating loss of EUR 2.4 million the
year before.
Net interest income came to EUR -8.0 million (previous year: EUR -11,3
million). In 2004 extraordinary expenses of EUR 14.9 million (previous year:
EUR 10.2 million) were incurred through corporate and operational
restructuring and from the costs associated with reorganizing Group financing.
The net loss was more than halved – at EUR 11.8 million; it more than halved
compared to the prior year’s figure of EUR 24.7 million.
Total consolidated assets came to EUR 431 million at December 31, 2004,
following EUR 436 million at December 31, 2003. The equity ratio remained
unchanged at 12 %. Financial liabilities were reduced by 14 % from EUR 89.6
million to EUR 76.7 million. As a result of the repositioning of Group
financing carried out in autumn, the ratio of long-term debt to the balance
sheet total increased to 55 %, while the ratio of current liabilities
correspondingly dropped to 33 %.
The inflow of funds from ordinary operations rose from EUR 18.4 million to EUR
43.1 million in the year under review.
A dividend will not be distributed for financial year 2004.
These financial statements will be presented to the Supervisory Board for
approval at its meeting on March 30, 2005.
On the back of the positive earnings performance in the core business and the
ongoing efficiency improvements in sales and administration, the company is
expecting to return to profit during the course of fiscal year 2005.
Further details can be obtained from: TA Triumph-Adler AG, Dr. Joachim Fleïng,
Phone: +49 (0)179 / 796 34 72, Fax: +49 (0)911 / 68 98 – 200, Mailing
address: TA Triumph-Adler AG, Suedwestpark 23, D -90449 Nuremberg, Germany,
presse@triumph-adler.de, http://www.triumph-adler.de
Corporate profile:
TA Triumph-Adler AG’s core business consists of selling and servicing
digitalized systems for printing, copying, faxing and archiving.
TA Triumph-Adler provides nationwide coverage in Germany with 400 of its own
sales staff and 600 service technicians at 60 sites, making it as a
manufacturer-independent company a market leader in its segment.
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.
TA Triumph Adler AG
Südwestpark 23
90449 Nürnberg
Deutschland
ISIN: DE0007495004
WKN: 749500
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, München und Stuttgart
End of ad hoc announcement (c)DGAP 24.03.2005
241758 Mär 05
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