SCHNEIDER Technologie AG
Schneider Technologies english
Schneider Technologies AG cuts down result expectations for the year 2001
Ad-hoc-announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Schneider Technologies AG cuts down result expectations for the year 2001
Türkheim, 3 December 2001. The Board of SCHNEIDER Technologies AG, Türkheim,
can no longer confirm the assessments published in the Interim Report of 16
August 2001 according to which the company would be able to achieve a positive
EBIT (Earnings Before Interest and Tax) in 2001.
Following the departure of the former Chairman of the Board (see Ad Hoc Release
of 26 October 2001), the Board of SCHNEIDER Technologies AG implemented a
substantial reassessment, which, as a consequence, has now led to new
estimations and valuations resulting in the fact that the overall result
anticipated for the business year 2001 will not come up to former expectations
by far. The Board anticipates the result of the SCHNEIDER Technologies AG of
2001 to be significantly under the equivalent of 2000.
Economic development both in Germany and in Europe had additionally contributed
to the negative result of the SCHNEIDER Group. Despite a deary recessionary
European market for consumer electronics (marking a minus of 5.4 per cent over
last year), the company’s subsidiary SCHNEIDER Electronics AG has marked an
increase in sales of 7.2 per cent as compared with last year due to new and
innovative products. However, the result of 2001 will be encumbered heavily
owing the massive pressure on prices especially in the months with big
turnovers October and November.
Therefore SCHNEIDER Technologies AG will. Inter alia. be forced to implement
further cost reductions. In this context, the Boards has, with beginning of
November, initiated incisive measures, especially in terms of human resources,
in order to achieve immediate as well as structural cost reductions.
The positive forecast in terms of sales, however, will not be affected from the
aforesaid; for the business year 2001 the Board of SCHNEIDER Technologies AC
still anticipates a single-digit increase.
end of ad-hoc-announcement (c)DGAP 03.12.2001
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
Background Information:
SCHNEIDER Technologies AG, Türkheim. (WKN: 719340) is one of the leading
European manufacturers of consumer electronics and exclusive provider worldwide
of the revolutionary Laser Display Technology. At present, the company has a
workforce of approx. 700 employees; sales in 2000 reached about 440 million DM.
In the year 2000, the former SCHNEIDER Rundfunkwerke AG was renamed SCHNEIDER
Technologies AG which today represents the holding company of SCHNEIDER Laser
Technologies AG as well as SCHNEIDER Electronics AG.
Contact:
Ralf Adam, Member of the Board of Management
SCHNEIDER Technologies AG
Fon:+49 8245/51-150
Fax:+49 8245/51-162
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WKN: 719340 ; ISIN: DE0007193401; Index:
Listed: Amtlicher Handel in Frankfurt, München; Freiverkehr in Berlin
Düsseldorf, Hamburg, Stuttgart
030903 Dez 01
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