P&T Technology AG
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P&T Technology AG: moderate growth in the first half of 2002
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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P&T Technology AG: moderate growth in the first half of 2002
Hamburg, August 21, 2002. The listed company P&T Technology AG, Hamburg, has
concluded the first half of 2002 with revenues of EUR 46.1 million across the
group. In a seasonally weak first half of 2002, revenues rose moderately by
2.4%, compared to the first six months of 2001. In so doing, the EBIT for the
first half of 2002 of EUR -2.5 million is reflecting cost structures which are
essentially oriented to the growth scheduled for the current financial year.
The group result was EUR -1.4 million, after EUR 0.9 million in the same period
of the previous year. This corresponds to a DVFA result of EUR -0.125 per share.
EECH developed gratifyingly. Only one year after its foundation, it posted a
balanced result with an EBIT of EUR 0.1 million.
As the proportionately low revenues in the first half of 2002 are mainly due to
delays in the sales of wind farms abroad and could continue in subsequent
quarters, P&T Technology AG is adjusting its revenues planning from EUR 400
million to EUR 320 million across the group and is reducing its EBIT from EUR 23
million to EUR 11 million. The company is continuing its policy of realising
wind farms abroad only after the sale of the project has been ensured. Due to
the delay in sales the scheduled commencement of construction of the new wind
farms abroad has been deferred to the end of the year. The adjustment of the
planning figures is predominantly the result of these deferred projects abroad,
the resultant higher share of fixed costs and, as a precautionary measure, a
slight reduction of the average margins of the projects which are scheduled to
be realised in 2002.
In relation to 2001, the adjustment of the planning figures for the current
financial year corresponds to a group-wide increase of revenues growth of 67.1%
and of EBIT of 5.8%. As of the first half of 2003, P&T expects to have a sales
upturn of wind farms abroad, resulting from product lines newly conceived by
EECH. Their successive market launch is scheduled for the current half of 2002.
End of disclosure
end of ad-hoc-announcement (c)DGAP 21.08.2002
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WKN: 685 280; ISIN: DE0006852809; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München, Stuttgart
210829 Aug 02
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