RHI Magnesita Deutschland AG
Didier-Werke AG english
Didier-Werke 2002: Positive business and earnings development
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Didier-Werke 2002: Positive business and earnings development
At its meeting on May 7, 2003, the Supervisory Board approved the financial
statements of Didier-Werke AG and the consolidated financial statements of the
Didier Group for the year 2002. The Board of Management will propose an
unchanged dividend of EUR 3.07 at the AGM on June 25, 2003.
The Didier Group reported sales revenues of EUR 541.9 million (previous year:
EUR 616.8 million) in the financial year 2002, down 12% on the previous year
mainly due to the sale of the Engineering division at June 30, 2002.
The core business Refractories experienced a positive business development in
2002 despite an only average industrial cycle worldwide. Compared to the
previous year, the market situation recovered slightly in individual client
industries, which continued at the beginning of the year 2003, especially in the
steel segment.
In 2002, the operating result (EBIT) of the Didier Group improved substantially
to EUR 28.6 million (previous year: EUR -7.0 million), after the figure of the
previous year had been negative due to one-off special effects. The EBIT margin,
at 5.3%, reached a good level in 2002 compared to other refractories
competitors.
The result from ordinary activities amounted to EUR 25.7 million (previous year:
EUR -19.6 million) in 2002, Didier’s net income after minorities came to EUR
17.1 million in 2002 (previous year: EUR -28.1 million).
Following the successful completion of the sale of the Engineering division in
2002, Didier will in future focus on the core competence Refractories within the
RHI Group. Within the global production network of RHI, Didier-Werke makes
refractories for the production of steel, glass, non-ferrous metals as well as
EEC (environment, energy, chemicals). Under the RHI Refractories brand, Didier
is positioned as an attractive worldwide product brand.
At December 31, 2002, RHI AG held, directly and indirectly, 96.23% of the share
capital of Didier-Werke AG.
end of ad-hoc-announcement (c)DGAP 07.05.2003
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WKN: 553700; ISIN: DE0005537005; Index:
Listed: Amtlicher Markt in Frankfurt (General Standard); Freiverkehr in
Düsseldorf, Stuttgart und München
071426 Mai 03
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