Sauer-Danfoss Inc.
Sauer-Danfoss continues its strong growth performance in first quarter 2005
Corporate-news transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Sauer-Danfoss continues its strong growth performance in first quarter 2005
– Increased Sales in all Regions and Segments
– Strength in New Orders and Backlog Supports Strong 2005
Chicago/Neumünster, May 11, 2005 – In the first quarter 2005 Sauer-Danfoss
Inc., listed on the NYSE and Frankfurt’s prime standard (NYSE: SHS; FSE:
SAR), generated net sales of $422.6 million, up 17 percent from the first
quarter 2004 ($361.1 million). Excluding the impact of currency translation
rate changes, sales increased by 14 percent. The specialist for mobile
hydraulic and electronic systems and components reported a net income of $10.8
million for the first quarter 2005, or $0.23 per share, close to the first
quarter 2004 net income of $11.0 million, or $0.23 per share. First quarter
2005 results were impacted by Sarbanes-Oxley compliance costs incurred in 2005
related to the assessment of 2004 controls over financial reporting, long-
term incentive plan costs, and costs relating to the implementation of a new
common business system platform, together totalling $0.12 per share.
Sauer-Danfoss’ sales grew in all regions and segments with the strong U.S.
market continuing to lead the way. David Anderson, President and Chief
Executive Officer, commented, “The growth is all the more impressive
considering that we are comparing to a strong first quarter in 2004. Most
encouraging was the return of solid growth in the Asia-Pacific region sales.”
Sales of the Propel segment were particularly strong, growing 20 percent,
excluding the impact of currency fluctuations, followed by a 12 percent
increase in the Controls segment, while sales into the Work Function segment
were up 5 percent compared with the prior year.
Orders received for the first quarter 2005 were $431.1 million, up 18 percent
from the same period last year. Excluding currency translation rate changes,
orders were up 15 percent.
Total backlog at the end of first quarter 2005 was $506.6 million, a 24
percent increase from the end of first quarter 2004. Excluding currency
impact, backlog rose 20 percent.
Anderson stated, “Our strong orders and backlog reflects the robust markets
and increased business from new applications, product introductions, and gains
in market share.”
Sauer-Danfoss expects after-tax earnings for the full year 2005 in the range
of $1.10 and $1.25 per share. Currently the company expects to be in the
lower part of the range.
All statements regarding future performance, growth, sales and earnings
projections, conditions or developments are forward-looking statements. These
statements are based on current financial and economic conditions and rely
heavily on the Company’s interpretations of what it considers key economic
assumptions.
A conference call on the results for the first quarter 2005 will be held in
English on May 11, 2005 at 4:00 PM Frankfurt time. Please find further
information on the quarterly results at http://www.sauer-danfoss-ir.com .
Further Information: Sauer-Danfoss Inc. – Investor Relations
John N. Langrick, Director of Finance Europe, Sauer-Danfoss Inc.,
Tel.: +49 4321-871-190, Fax: +49 4321-871-121, Krokamp 35, D-24539 Neumünster,
jlangrick@sauer-danfoss.com
Linda Völpel, Investor Relations Specialist, Sauer-Danfoss Inc.,
Tel.: +49 4321-871-560, Fax: +49 4321-990-581, Krokamp 35, D-24539 Neumünster,
lvoelpel@sauer-danfoss.com
Christof Kaplanek, Public Relations, HOSCHKE & CONSORTEN,
Tel.: +49 40-369050-38, Fax: +49 40-369050-10, Deichstr. 29, D-20459 Hamburg,
c.kaplanek@hoschke.de
End of announcement (c)DGAP 11.05.2005
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WKN: 880208; ISIN: US8041371076; Index:
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, München und Stuttgart
110729 Mai 05
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