farmatic biotech energy ag
farmatic biot. energy ag english
farmatic biotech energy ag introduces extensive restructuring program
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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farmatic biotech energy ag introduces extensive restructuring program
-focus on core competency biogas (construction, participation, operation)
-streamlining of internal organisation
-outlook for 2003 sales and earnings
Supported by a reputable auditing company, the management team of farmatic
biotech energy ag has carried out an in-depth analysis of the companys current
situation and streamlined its product portfolio with a view to safeguarding
long-term value. On this basis, the company has also introduced an extensive
restructuring program and developed a business plan for the coming years.
farmatic will focus in future on its core competency in the field of biogas,
i.e. the construction and operation of biogas plants, material flow management
and energy generation. In the field of biogas plant construction, the company
plans to supply both the large and medium-size facility segments in future.
Following the streamlining of its project portfolio, farmatic now boasts an
attractive volume of potential orders. In the year ahead, the company will focus
on those projects which offer the greatest prospect of being implemented, the
remaining projects will be put on hold. The business plan anticipates the
construction of about 8-10 major plants in 2003, generating sales of
approximately EUR 50 million.As a consequence of the structural changes to the
companys organisation, it is planned to reduce headcount from its current level
of 183 to around 100 employees. The sales organisation will be heavily
streamlined and strictly success-oriented. The restructuring measures are
expected to reduce costs by over EUR 8 million in 2003. In cooperation with the
works council, the company is working on a solution to minimise the social
impact for those staff affected.Due to the above-mentioned streamlining of the
companys project portfolio and temporary financing difficulties experienced by
some of its customers, the Executive Board expects sales to reach EUR 36 million
in 2002, with an EBIT result of EUR -17.5 million.
end of ad-hoc-announcement (c)DGAP 19.12.2002
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
The companys restructuring measures are expected to lead to a positive EBIT
result in the fourth quarter of 2003, as the costs of the program will continue
to represent a burden on earnings this time.
The Executive Board expects that the company will make a loss of about EUR 3.5
million in fiscal 2003. The usiness plan anticipates a positive EBIT result
again in 2004 as well as a positive operative cash flow figure for the year as a
whole.The Executive Board is currently holding talks with a number of banks in
order to also secure the companys long-term liquidity.
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WKN: 605192 ; ISIN: DE0006051923; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Düsseldorf, Hamburg,
Hannover, München und Stuttgart
192020 Dez 02
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