pgam advanced technologies AG
Armored and protected cars drive pgam’s earnings growth (Correction)
Corporate-news announcement sent by DGAP.
The sender is solely responsible for the contents of this announcement.
——————————————————————————–
*** Correction only to the english Press Release of pgam from today TUE, 31st
of August 09:44 a.m.***
Armored and protected cars drive pgam’s earnings growth
pgam with significant earnings growth in first half 2004
– Focussing on the segment specialty vehicles drive sales and earnings growth
– Sales growth of 10% to more than 39 million EUR (previous year 35.7 mill
EUR)
– Increasing net profit of 57% to 1,078,000 EUR (previous year 687,000 EUR)
– Earnings per share increase from 8 Cent the year before to actual 11 Cent
– Outstanding performance within the peer group of listed companies
Georgsmarienhuette, August 31st, 2004 –
pgam advanced technologies AG (Prime Standard, ISIN DE0005138408) continues to
follow the successful growth path impressively in the first half 2004 and took
benefit from the early focus at the beginning of last year on the margin
intensive segment of special protected vehicles. Sales and earnings growth as
well as margin development compared to the same period the year before are
outstanding within the peer group of listed companies and document the
flexibility and efficiency of the “breathing fabrication” with its already in
recent years implemented and well proven flexible models to manage the
workforce capacity.
The ongoing reduction of the ratio personnel expenses to sales of four
percentage points down to less than 40 % in the first half sunk already to
less than 39 % in the second quarter stand alone despite the continuing sales
growth of 10% in the first half 2004. “Increasing profitability and the
creation of additional jobs at pgam are not in contrast to each other”
underlined Josef A. Marold, Chairman and CEO of pgam advanced technologies AG,
the increase in number of employees as of June 30th of approx. 2 % compared
to the first quarter 2004 and of more than 11 % compared to the previous year
from 723 to at least 805 employees.
Over-proportionate increase of all Group earnings figures in the first sixth
months 2004:
+ Increase in sales of 10 % to EUR 39.9 mill (previous year EUR 35.7 mill)
+ EBITDA margin increased from 13.5 % to 15.1 %
+ EBIT margin increased from 6.1 % to 6.8 %
+ EBIT increased by around 22 % to EUR 2.7 mill (previous year EUR 2.2 mill)
+ Massive increase in net profit for the first six months of 57 % to EUR 1.1
mill (previous year EUR 0.7 mill)
+ Earnings per share increased by 37.5 % to EUR 0.11 after EUR 0.08 the year
before despite an increase in number of shares outstanding of 11.5 % due to
a capital increase
Revenue and earnings development of the single business units of the pgam
Group in detail mirror positively the strategic decision taken earlier to
focus on the segment of armored and protected cars. This allowed pgam also to
step aside from the rather difficult market situation of the automobile
industry actually. Demand for specialty vehicles especially for armored and
protected cars develops continuously pleasant. This results for the Business
Unit 4 – Specialty Vehicles in tripled sales of EUR 20.3 mill actually
(previous year EUR 6.7 mill) and an overproportionate more than five times
higher segment earnings (EBT) of EUR 2,347,000 after EUR 437,000 in the same
period the year before.
All the other single business units showed significant sales declines
accordingly to the strategic focus of pgam Group with one exception, the
BU 2 – Polymers which counted for rather constant sales of EUR 10.7 mill
(previous year EUR 10.9 mill).
Concentrating on the specialty vehicle projects result in a sufficient
capacity utilization of pgam`s prototype operating plants and ensures
especially in the specialty vehicles after market a very good capacity
utilization. Low volume production is mainly of interest for luxury cars and
therefore offers good margins.
Demand for these armored and protected civilian cars develops extraordinary
well because of a growing political instability in several parts of the world
and the ongoing flashpoints on earth.
“pgam is in an excellent position in this market segment due to their customer
penetration and their technological leadership. These are the two growth
engines for the upcoming years”, underlined Josef A. Marold the future
opportunities for pgam again.
The Board of Management, August 2004
For further information and details about the company and the complete half
year report which will be disclosed later today please use:
http://www.pgam.com or contact:
pgam advanced technologies AG
Josef A. Marold
Beekebreite 18-20
D – 49124 Georgsmarienhuette
Phone:+49 -(0)5401 -490 490
Fax:+49 -(0)5401 -42705
mailto: i-relations@pgam.com
end of message, (c)DGAP 31.08.2004
——————————————————————————–
WKN: 513 840; ISIN: DE0005138408; Index:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverker in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
311256 Aug 04
Aktuelle News
Aktuelle Berichte
Keine Berichte gefunden
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden