pgam advanced technologies AG
Armored and protected cars drive pgam’s earnings growth
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Armored and protected cars drive pgam’s earnings growth
pgam with significant earnings growth in first half 2004
– Ongoing profit growth with again a margin improvement after nine months 2003
– Reduction in group sales after nine months of around 12% to EUR 52.1 mill
– EBIT margin increased from 3.6 % last year to actual 6.6 %
– Net profit for nine months of EUR 1.0 Mio. after a net loss of EUR 1.7 the
year before
– Earnings per share for nine months jumps up to EUR 0.11 compared to EUR – 0.20
the year before
Georgsmarienhuette, November 27th, 2003 –
pgam advanced technologies AG (Prime Standard, ISIN DE0005138408) continues
to follow the successful path of the first half 2003 and confirms the profit
growth due to a significantly improved cost structure in the third quarter.
The net profit for Q3 in the amount of EUR 315,000 (compared to the loss of EUR
– 991,000 last year) and the net profit for the nine months in the amount of EUR
1.0 mill (compared to a net loss of EUR 1.7 mill the year before) showing the
ongoing success.
This success counts even double, resulting from a lower sales volume of
around – 12 % compared to last year and impressively documents the success of
the implemented measures to cut costs and to improve efficiency.
Group earnings increased significantly within the first nine months 2003:
– EBITDA margin increased again to 14.0 % (half year at 13.5 %)
– EBIT margin increased from 6.1 % (half year) to actual 6.6 %
– EBT jumps of 166% to EUR 2.1 mill (nine months before EUR 0.8 mill)
– Net profit for the period of EUR 1.0 mill after a net loss of EUR – 1.7
mill the year before
– Earnings per share jumps to EUR 0.11 after a net loss of EUR – 0.20
Especially the positive earnings swing in segment results (EBT) of Business Unit
(BU) 2 – Polymers from a loss of EUR 2,266,000 the year before to an actual
profit of EUR 183,000 is outstanding. This is the normal consequence
of the positive earnings swing Business Unit 1 already achieved in the first
half of 2003. The same projects are now stepping into the phase of
development and production of assemblyline production equipment and
facilities and are going to reach within the following quarters the phase of low
volume production. All business units are profitable. The two business units
Universal Technical Services (BU 1) and Specialty Vehicles (BU 4) are
the two main provider of profits.
Glad to see the production start of the armoured version of one the most
successful US luxury sedans. The worldwide market for speciality vehicles
directly sold from the OEMs is expected to have a CAGR of 20 % for the
period from 2001 to 2007e.
“A sale & lease back transaction of one of our US real estates is going to
strengthen our liquidity. The successful capital increase of 10 % of pgam`s
share capital in the first days of November 2003 strengthened our liquidity
additionally, enlarged the equity and increased the free float of pgam shares to
around 40 %” explained Josef A. Marold regarding the planned capital measures
which should be authorized on the extraordinary AGM on December 4th, 2003.
Board of Management
pgam advanced technologies AG
pgam advanced technologies AG, founded in 1979, offers the automotive
industry a full service integrated process chain from the initial concept of
a vehicle, research and development, prototyping, project and quality management
until the start of production and the low volume production for niche products
and niche vehicles. pgam is concentrating on specific exterior and interior body
applications, components, parts, systems and classified armored protection
developments, which are of essential importance for the
OEMs and their continuously shortened lifecycle per model. An intra- and
internet based process and data management allows simultaneous engineering
and offers significant time and cost reductions.
Customers are enabled to reduce their time to market and to secure planned
amortization of their development costs even for small output numbers.
For further information please use: http://www.pgam.com
or please 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
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WKN: 513 840; ISIN: DE0005138408; Index:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverker in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
310944 Aug 04
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