Müller Weingarten AG
Müller Weingarten AG: Interim report as of June 30, 2004
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
——————————————————————————–
Müller Weingarten AG: Pleasing order intake thanks to successes in foreign
markets
Weingarten, August 31, 2004. The Müller Weingarten Group recorded a pleasing
development in order intake in the first half of 2004, achieving a figure of
EUR 216.9 million, compared to EUR 111.1 million in the previous year. Export
successes in the expanding Chinese markets were principal contributing
factors. Order backlog reached a level of around EUR 488 million (previous
year EUR 415 million).
Sales in the first half of the year totalled EUR 128.8 million, compared to
EUR 162.9 million in the previous year, due to accounting deadlines. Total
output reached EUR 166.3 million (previous year EUR 186.5 million). As in
the previous year, the result from ordinary operations as of 30.06.2004 was
influenced by shortfalls in sales compared to proportionate annual sales and
again reached the breakeven point.
For the year as a whole, Müller Weingarten expects order intake to continue
rising sharply and reach a level of around EUR 400 million, compared to EUR
344.1 million in the previous year. This rise is due to positive development
in the Large Mechanical Presses business segment as well as the good business
outlook in the field of medium-sized mechanical presses and in the Diecasting
Technology division. The Tool and Die Fabrication business segment also
performed well in a difficult market environment. Due to the low order intake in
the first half of 2003, the company expects consolidated sales for
the year as a whole to reach EUR 380 million, which is down on the previous
year’s figure (EUR 410.9 million). The result from ordinary operations is
expected to match the previous year’s level (EUR 8.5 million). The result is not
burdened by extraordinary expenditure.
Whereas capacity utilisation fell in the first months of the fiscal year due
to muted order intake in the first half of 2003, Müller Weingarten expects
it to rise again in the second half of the year and have a corresponding
effect on total output.
Fixed asset additions amounted to EUR 3.1 million and were therefore lower
than in the previous year (EUR 6.8 million). Whilst drawings and licences
for expanding service business in Great Britain were purchased in the
previous year, investment activity focussed solely on replacement and
rationalisation measures.
As of 30.06.2004, the number of employees stood at 2,397, compared to 2,456
in the previous year.
The concept for optimising the company’s added-value structure, which was agreed
in December 2003, is being implemented according to plan. In addition
to the transfer of production between the company sites, this concept has
also involved the relocation of employees.
Positive developments in the automotive markets in China and Eastern Europe
coupled with the increasing importance of the component supply industry are
creating new sales opportunities for Müller Weingarten. These developments
add further weight to the strategic measures for sustaining and building
upon the positive results despite unrelenting pressure to maintain profit
margins in the medium term.
end of ad-hoc-announcement (c)DGAP 31.08.2004
——————————————————————————–
WKN: 657900; ISIN: DE0006579006; Index:
Listed: Amtlicher Markt in München und Stuttgart
310758 Aug 04
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found