TA Triumph-Adler AG
TA Triumph-Adler AG english
First quarter confirms company’s new strategy
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
——————————————————————————–
First quarter confirms company’s new strategy
Group on target + Sales of companies changing scope of consolidation + Experts §
Output improves market position + TA Beteiligung: Restructuring moves ahead +
As “pure player” attracting greater attention from investors
Nuremberg/Grünwald, May 23, 2002-TA Triumph-Adler AG’s first-quarter results for
financial year 2002 confirm the expectations placed in the company’s new
strategy, notes Dr. Dietmar Scheiter, CEO of the Nuremberg-based company.
The Triumph-Adler Experts § Output division succeeded in expanding its already
solid market position, despite the current cautious investment climate. With
receipts of EUR 101.9 m (EUR 101.2 m), sales at Triumph-Adler Experts § Output
slightly outperformed the market. With an EBITDA of EUR 11.2m, earnings beat
those of the previous year (adjusted for positive one-time effects of EUR 0.7m)
by EUR 0.4m. The core division already generated 69 % of Group sales in the
first quarter of 2002 compared to 61 % the previous year.
In the first three months of this year the TA Beteiligung segment generated
sales of EUR 46.5 m (EUR 63.1 m), and an EBITDA of EUR 0.1 m (EUR 2.1 m). The
companies of Leim + Potthoff and Migua left the scope of consolidation along
with Bell Hermetic, Haverkamp and TA Musik, as well as the residual stake in
Zapf.
The TA Triumph-Adler Group generated Group sales of EUR 148.4 m for the first
quarter of 2002 compared to EUR 164.3 m the year before. Adjusting 2001’s first
quarter comparative figures for the companies that had already been sold last
year, Group sales for the first quarter 2001 came to EUR 145.3m. A similar
situation applies for the Group’s operating profit. The Group EBITDA, however,
declined against the previous year’s period from EUR9.7m to EUR 7.4m.
Nevertheless, taking the comparable scope of consolidation as a basis, the Group
beat the superb EUR 7.3 m EBITDA of the previous year’s quarter slightly,
coming in at EUR 7.4 m. The Group result in the first quarter topped the
previous year’s quarter at EUR -6.1m against EUR -6.7 m. Adjusted for the
changes in the scope of consolidation, the Group result improved by EUR 1.2m.
The consolidated balance sheet total for the first quarter of 2002 amounts to
EUR 624.8m after EUR 636.9m as of December 31, 2001. The cash flow statement
shows a cash flow of EUR 3.3m against EUR 5.9m in the same period of the
previous year.
end of ad-hoc-announcement (c)DGAP 23.05.2002
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
Dr. Scheiter considers the first quarter a clearly positive signal for the
rapidly stepped-up development of the Group, which is soon to become an
exclusively operating company. As a future pure player” the Group is already
attracting greater attention from institutional investors.
Outlook:
The Triumph-Adler Group is seeing the first cautious indications of an economic
recovery. As market leader in Germany the company will be able to profit from
this to a particularly large extent as the year progresses, especially in the
“Triumph-Adler Experts § Output” core division.
In the “Experts § Output” core division the company is expecting sales growth in
the current financial year of 15 % on a 20 % increase in earnings. The
expansion of the “Experts § Output” core division this requires is coming along
well. The Kannengiesser acquisition has already been reported on above. The
company is presently examining further investment opportunities in the Imaging
and in the Presentation and Media Technology business segments, and concrete
takeover talks are presently underway with two companies. Apart from
acquisitions, the Group is also planning for growth from its own operations in
particular. One example here is the extent of the commitment being made to
expanding the third-party-maintenance business. The company is also expanding
its product range by adding its own “Triumph-Adler”brand.
The Triumph-Adler Group has also clearly laid out its objectives for the TA
Beteiligung division. At least one more company will be sold before this
financial year is over. Promising talks are currently in progress with this aim
in mind.
In the Central Division the restructuring of the Group from a broadly
diversified Mittelstand holding into an operating company as “Experts § Output”
is already delivering its first cost savings. The company is making good
progress toward becoming the lean Group Triumph-Adler is aiming for.
Further details can be obtained from:
TA Triumph-Adler AG: Petra Pfaffenbach, Ludwig-Ganghofer-Str. 6, D-82031
Grünwald, Germany, Phone: +49 89/641902-33, Fax: +49 89/641902-91,
presse@triumph-adler.de, http://www.triumph-adler.com
——————————————————————————–
WKN: 749500; ISIN: DE0007495004; Index: SDAX
Listed: Amtlicher Handel in Frankfurt (SMAX); Freiverkehr in Stuttgart
231316 Mai 02
Latest News
Latest Reports
Upcoming Events
No Events found
Webcasts
No Webcasts found