farmatic biotech energy ag
farmatic biot. energy ag english
farmatic biotech energy ag raises total turnover
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 raises total turnover-
negative operating result due to restructuring measures
Nortorf, November 29, 2002- In the past nine months farmatic biotech energy ag
(SIN 605192) generated total sales revenues of EUR 25.1 million (prior year: EUR
21.7 million). This represents an increase of 15.7 percent over the same period
last year. Of this total, EUR 8.8 million were generated in the third quarter
of 2002 -5.8 percent more than in the same quarter last year. The re-assessment
of existing projects, high start-up costs for current orders and the
introduction of comprehensive restructuring measures resulted in an EBIT figure
of EUR -13.2 million (prior year: EUR 1.0 million). The Bio-Power Plant
Technology segment accounted for 88 percent of total sales, generating revenues
of EUR 22.1 million. The Sewage Treatment Technology segment accounted for sales
of EUR 3.0 million. farmatics liquid funds amount to EUR 11.7 million. The new
management team expects a seasonal dip in sales for the current fourth quarter.
The Management Board will present the companys new business plan in the third
week of December. This plan will contain changes in the companys structure and
its personnel strategy. The revised product portfolio will also be announced.
The introduction of these measures in 2003 is expected to lead to a
consolidation of business and a return to positive operating earnings by 2004.
End of the ad-hoc statement
The full quarterly report can be downloaded from farmatic ags website
http://www.farmatic.com as of 29.11.2002. Please contact Ms. Margitta Kley
(Corporate Communications) for all further details.
Phone: +49 (4392) 9177-128, Fax: +49 (4392) 9177-297,
E-mail: ir@farmatic.com
end of ad-hoc-announcement (c)DGAP 29.11.2002
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WKN: 605192 ; ISIN: DE0006051923; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Düsseldorf, Hamburg,
Hannover, München und Stuttgart
290759 Nov 02
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