Müller Weingarten AG
Müller-Weingarten AG english
Industry withholding investments puts pressure on sales and results
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Weingarten, August 29, 2003. In the first half of 2003 Müller Weingarten
achieved break-even with lower sales in a still slow and competitive market
environment. Consolidated sales totalled Euro 162.9 million, a decline of Euro
57.1 million compared to the same period last year (Euro 220.0 million). The
consolidated result from ordinary operations reached break-even point, compared
to a profit of Euro 5.1 million as of June 30, 2002. As of the end of the fiscal
year, Müller Weingarten expects to record a sales volume in the region of Euro
400 million, resulting from previously unbilled contracts, compared to Euro
453.5 million for the previous year. Order intake in the first six months of
current fiscal year 2003 amounted to Euro 111.1 million, considerably less than
prior year’s figure of Euro 180.1 million. For the current fiscal year, Müller
Weingarten forecasts an order intake of over Euro 300 million, compared to Euro
378.9 million in the previous year. As of the end of the first half of 2003, the
Müller Weingarten Group had an order backlog of Euro 414.7 million (previous
year Euro 501.0 million). Total output amounted to Euro 186.5 million, compared
to Euro 177.5 million in the previous year. The group fully utilised most of its
capacity in the first half of 2003. For the second half of the year, Müller
Weingarten expects reduced production levels, although this will be partially
offset by the introduction of a more flexible system of working hours as well as
by the implementation of other measures. The continued investment restraint on
the part of the automotive industry will primarily impact the next fiscal year.
Despite the currently difficult market environment and sustained price and cost
competition, Müller Weingarten still forecasts that the result from ordinary
activities will reach the break-even point as of the end of fiscal year 2003.
The group currently expects impetus to be generated by its business unit Service
and by ac-tivities in China. There the automotive industry is planning to ex-
pand its production capacity considerably.
Contact:
Müller Weingarten AG
Public Relations
Ms Alexandra Kuhm
Schussenstraße 11, D-88250 Weingarten
Tel. 0049 – 751 – 401 2887, Fax 0049 – 751 – 401 2714
Email: alexandra.kuhm@mwag.de, http://www.mueller-weingarten.de
end of ad-hoc-announcement (c)DGAP 29.08.2003
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WKN: 657900; ISIN: DE0006579006; Index:
Listed: Amtlicher Markt in München und Stuttgart
290700 Aug 03
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