TA Triumph-Adler AG
TA Triumph-Adler AG english
Ad-hoc Announcement by TA Triumph-Adler AG, as Stipulated by Article 15 WpHG
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Triumph-Adler completes Group conversion and increases capital
-Remaining investment portfolio sold as of June 30th
-Group bank commitments reduced by 45%
-6.4 % capital increase placed at 2.56 EUR per share
-Core business continues growth
Nuremberg/Munich, June 27, 2003: TA Triumph-Adler AG has sold its remaining
investment portfolio as of June 30th at book value to Corona Vermögensverwaltung
GmbH. The buyer is part of a renowned German society of economic attorneys, and
its managers are currently members of the supervisory board at TA. The business
purpose of the buyer is the best possible sell-off of the various holdings
taken over. The purchase price for the shares of the transferred activities
amounts to around EUR 41 m. The purchaser is discharging TA Triumph-Adler of
some EUR 26 m in bank commitments to the Bavarian State Bank in Munich and the
WestLB AG; this amount will be attributed towards the purchase price. TA is
granting the purchaser financing for around EUR 14 m of the purchase price. The
operative financing of the various subsidiary companies shall remain unaffected
by the transactions.
“Thus, the focus on the core business of Imaging and Presentation Technology has
been completed ahead of schedule from the viewpoint of the AG,” explains Dr.
Dietmar Scheiter, chief executive officer at TA Triumph-Adler AG.
The Group’s remaining bank commitments have thus been almost cut in half to a
mere EUR 95 m once the net cash provided from the recently announced spin-off of
the French subsidiary Majorette is figured in.
With the sell-off of the investment portfolio, TA has increased the equity
capital by around 6.4% by exploiting the approved capital, precluding
subscription rights. The placement price per share of EUR 2.56 is some 20% above
the stock price of June 26, 2003.
“We expect this clear reduction in debt and the successfully placed capital
increase to improve the rating of the Triumph-Adler Group considerably”, states
Dr. Dietmar Scheiter.
Dr. Scheiter will be explaining some other details about the measures at the
ordinary general meeting of shareholders of TA Triumph-Adler AG, which takes
place in Munich on Tuesday, July 1, 2003.
end of ad-hoc-announcement (c)DGAP 27.06.2003
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
In the current fiscal year, the expected sales in the core business of Office
Communication are posted at EUR 430-440 m, with the earnings expectations after
corporate costs amounting to around EUR 35 m EBITDA. In light of its excellent
leadership position, especially in the segment of Imaging, Triumph-Adler is very
well equipped for the future, Scheiter stated.
Further details can be obtained from:
TA Triumph-Adler AG, Corporate Communication / IR, Phone: +49/89/641902-0, Fax:
+49/89/641902-90, presse@triumph-adler.de, Mailing address: TA Triumph-Adler AG,
Implerstrasse 11, D-81371 Munich, Germany, www.triumph-adler.de
Brief corporate profile:
TA Triumph-Adler AG was transformed into a tightly focused distribution and
service business with a leading franchise in the future market of digital office
communication.
Triumph-Adler Experts at Output distributes and services output solution
products (sales in FY 2002: EUR 408 m). This comprises the segments Imaging
(products for copying, printing, and faxing) as well as Presentation and Media
Technology (products for professional presentation).
Triumph-Adler Experts at Output is in the segment Imaging market leader in
Germany. The segment Presentation and Media Technology has reached a market
leading position in Europe. The target is to extend this strong market position
Europe-wide by organic growth and acquisitions.
Important Information:
This press statement contains forward-looking statements that are based on the
assumptions and estimations of the management of TA Triumph-Adler AG. Even
though the management believes that these assumptions and estimations are
correct, the actual future development and the actual future results of these
assumptions and estimations may deviate materially owing to many different
factors. These factors could include, for example, a change in the overall
economic situation, exchange rates, interest rates as well as changes in the
development of the market and changes to the competitive situation arising from
technological change. TA Triumph-Adler AG undertakes no guarantee that the
future development and the future results actually achieved will match the
assumptions and estimations expressed in this press statement, nor does it
assume any liability in this regard.
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WKN: 749500; ISIN: DE0007495004; Index:
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, München und Stuttgart
272027 Jun 03
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