Sauer-Danfoss Inc.
Sauer-Danfoss Inc. english
SAUER-DANFOSS INC. REPORTS THIRD QUARTER 2001 RESULTS
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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SAUER-DANFOSS INC. REPORTS THIRD QUARTER 2001 RESULTS
Neumünster, October 31, 2001. In the third quarter of 2001 Sauer-Danfoss Inc.
generated net sales of US $ 183.5 million (same period 2000: US $ 197.4
million). Net earnings for the third quarter 2001 were a loss of US $ 7.7
million (previous year: US $ 5.3 million). Despite the weak economic situation
the cash provided from operations was US $ 17.0 million in the third quarter
2001 (previous year: US $ 38.7 million).
The specialty vehicle market sales were basically level with the prior year
period. Distribution market sales were down 12.2 percent. Sales into the
construction market were down 11.9 percent. Road building market sales were
down 6.8 percent, and sales into the turf care market were down 5.5 percent.
Agricultural market sales were down 3.4 percent. The strong cash flow in the
third quarter more than covered the capital expenditures and acquisition
investments.
Due to the weak market conditions, Sauer-Danfoss expects sales in the fourth
quarter to be lower than third quarter sales. But because of cost reduction the
company will continue to generate positive cash flow for the remainder of the
year. Despite the current market conditions, Sauer-Danfoss sees medium-term
significant growth opportunities, especially in the electronics sector and
forklift truck market. A key element of Sauer-Danfoss’ growth strategy is the
extension of its global presence. The company continues to seek selected
strategic acquisitions worldwide.
end of ad-hoc-announcement (c)DGAP 31.10.2001
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
Further Information:
Sauer-Danfoss Inc. – Investor Relations
John N. Langrick
Director of Finance – Europe
Sauer-Danfoss Inc.
Krokamp 35
D-24539 Neumünster
Phone: +49 4321-871-190
Fax: +49 4321-871-121
jlangrick@sauer-danfoss.com
Andrea Wittmann
Manager Communications
Sauer-Danfoss Inc.
Krokamp 35
D-24539 Neumünster
Phone: +49 4321-871-212
Fax: +49 4321-990-316
awittmann@sauer-danfoss.com
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WKN: 880208; Index:
Listed: Amtlicher Handel in Frankfurt (SMAX); Freiverkehr in Berlin, Düsseldorf,
Hamburg, München, Stuttgart
312342 Okt 01
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