SUMIDA AG
Vogt Electronic AG english
VOGT electronic: sales and results down in Q3
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Cumulative sales at VOGT electronic AG in the first three quarters of the
2001/2002 financial year (October – June) were down 26% on the previous year,
falling to approx. EUR 403 million. However, performance in the quarter to June
2002 at approx. EUR 141 million remained virtually unchanged over the preceding
quarter (EUR 142.4 million). The order intake at approx. EUR 390 million was
likewise down on the year before (previous year EUR 441.1 million). The
principal factor behind this development has been the collapse in demand in
Germany for electrical and electronics industry products, above all in the field
of telecommunications. The slight upturn evident in the second quarter proved
to be short-lived. As a manufacturer of passive components, PCBs and electronic
systems for the electrical and electronics industry, VOGT expects to report
cumulative earnings before interest and taxes (EBIT) of approx. -EUR 15 million
(previous year EUR 17.4 million) in the third quarter of the current financial
year. Investments will total around EUR 15 million (previous year EUR 33.6
million), against depreciation of approx. EUR 30 million (previous year EUR 31.8
million). This result represents a sharply pronounced example of the
development trend already anticipated by VOGT electronic in its half-year
report. In view of the continuing difficult economic climate, VOGT electronic AG
does not expect to see any improvement in the current fourth quarter (July –
September). The restructuring measures initiated by the Executive Board will be
implemented with renewed vigor, including further staffing level adjustments,
the introduction of short-time working at plants operating below capacity, a
reduction in purchasing costs and the implementation of cost-cutting programs to
trim the overhead at all associated companies. VOGT electronic will announce
its final figures for the third quarter on August 8, 2002.
Contact: Mr. Hein, tel.: +49/(0)8591/ 937 180, e-mail: ir@vogt-electronic.com
end of ad-hoc-announcement (c)DGAP 01.08.2002
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WKN: 765 933; ISIN: DE0007659336; Index: SDax
Listed: Amtlicher Markt in München und Frankfurt (SMAX); Freiverkehr in Berlin,
Düsseldorf, Hamburg und Stuttgart
010828 Aug 02
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