Winter AG
Winter AG english
Winter AG’s final results for the first quarter of 2003
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Earnings still negative / Winter proceeds with consistent restructuring
Olching near Munich, 20 May 2003. The Frankfurt Prime Standard listed chipcard
manufacturer Winter AG sold Euro 7.6 million in the first quarter of 2003.
Sales proceeds were approximately 28% lower than those in the comparable prior
year period (Euro 10.5 million). Sales were divided between the 3 business
divisions as follows. The Cards division achieved turnover of Euro 3.8 million,
or 50% of total sales (Q1 2002: Euro 5.2 million / 49.4%). Winter AG sold Euro
3.6 million in the first quarter of 2003 (47.4% of total sales; Q1 2002: Euro
5.2 million / 48.9%). IT-Security was able to increase its sales from Euro
174,000 in the first quarter of 2002, to Euro 207,000 (2.7% of total sales; Q1
2002: 1.7%).
In general, first quarter revenue and earnings were affected by intense price
competition due to lower demand. EBITDA in the first quarter was negative Euro
0.6 million; this was around Euro 700,000 lower than the first quarter last
year. Profit after tax, to 31 March 2003, was similarly negative Euro 1.2
million (negative Euro 0.5 million last year). The order book at 31 March 2003
amounted to Euro 4.2 million (Prior year: Euro 14.8 million because of large,
one-off orders). The number of employees fell by 9.2% compared to the prior
year: from 327 in Q1 2002, to 297 in Q1 2003.
Since the end of 2002, Winter AG’s management has initiated a strict course of
restructuring. In this way around 60 jobs will be cut this year, in comparison
to 2002. With a solid equity capital base at its disposal, Winter AG is
optimistic that it will return to profitability at the start of 2004.
Contact:
Winter AG / Susan Hoffmeister-Byrne / Investor Relations / Hermann-Boecker Str.
19-25 / 82140 Neu-Esting / Tel.: 08142 303 285, Fax: 08142 303 173
Email: susan.hoffmeister@winter-ag.com / http://www.winter-ag.com
end of ad-hoc-announcement (c)DGAP 20.05.2003
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WKN: 555560; ISIN: DE0005555601; Index:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
200753 Mai 03
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