pgam advanced technologies AG
pgam with continuing earnings growth in the first quarter 2004
Corporate-news announcement sent by DGAP.
The sender is solely responsible for the contents of this announcement.
——————————————————————————–
pgam with continuing earnings growth in the first quarter 2004
– Business unit speciality vehicles is the main driver of sales and earnings
growth
– Sales growth of approx. 11% to approx. 20 million EUR
– Net profit for the first three months more than tripled to 829,000 EUR
(previous year 252,000 TEUR)
– Earnings per share tripled to 9 Cent after 3 Cent the year before
Georgsmarienhuette, June 1st, 2004 –
pgam advanced technologies AG (Prime Standard, ISIN DE0005138408) continues to
follow in the first months of the new fiscal 2004 the already in Q4 2004 started
growth path. Sales and earnings growth compared to the same period the year
before and also against the fourth quarter 2003 impressively documents the
sustainability of the already in the recent past implemented measures to cut
costs and to improve efficiency. “Especially in the situation of declining
revenues our smart systems to manage the purchase of goods and services and
flexible models to manage the workforce capacity have proven their efficiency.
In the actual growth phases pgam benefits especially from these highly efficient
tools of a “breathing fabrication”, Josef A. Marold, Chairman and CEO of pgam
advanced technologies AG, explained the impressive growth story in contrast to
the cautious sentiment in general within the automobile industry in Germany.
The reduction of the ratio personnel expenses to sales of approx. five
percentage points down to 40.5 % despite the sales growth of around 11% and the
reduction in personnel expenses in total of at least 1.4 % in contrast to the
increase in number of employees of 5.6 % as of March 31st from 750 (2003) to 792
this year are some examples given.
Overproportionate increase of all Group earnings figures in the first three
months 2004:
– Increase in sales of approx. 11 % to EUR 19.9 mill (previous year EUR 18.0
mill)
– EBITDA margin increased from 14.2 % to 15.2%
– EBIT margin increased from 6.5 % to 7.1 %
– EBIT increased by around 20 % to EUR 1.4 mill (previous year EUR 1.2 mill)
– EBT nearly doubled to EUR 1.5 mill (previous year EUR 0.75 mill)
– Net profit first three months more than tripled to EUR 0.8 mill (previous
year EUR 0.25 mill)
– Earnings per share tripled to EUR 0.09 after EUR 0.03 the year before despite
an increase in number of shares outstanding of 10 % due to a capital increase
Revenue development of the single business units mirror the actual market
situation of the automobile industry. Decisions for next generation of cars and
for new models in Europe were continuously delayed in contrast to the USA.
Demand for speciality vehicles especially for armored and protected cars
develops pleasantly. The start of the low volume production within the Business
Unit 4 – Speciality Vehicles results in a massive sales jump of 188 % to EUR 9.9
mill after EUR 3.5 mill in the same period the year before.
All the single business units showed a massive earnings increase (EBT) with one
exception, the BU 1 – Universal Technical Services. Especially the
overproportionate earnings jump of BU 4 – Speciality Vehicles from 164 thousand
EUR last year to actual 1,116 thousand EUR and the positive earnings swing of BU
2 – Polymers from a loss of 1 thousand EUR to an actual profit of 243 thousand
EUR are outstanding.
Especially the core business of pgam the development of new cars shows a
stimulation in the USA in general. The Business Unit Polymers including
manufacturing tools and production molds as well as Sheet Metal Tool
Die/Stamping are showing satisfying order inflow and a constant increase of
capacity utilization especially due to the enlargement of low volume production
in USA for components also.
Due to the speciality vehicle projects capacity utilization of pgam is
sufficient especially in the speciality vehicles after market project but
requires relatively high up front financing from pgam. Demand for these products
develops extraordinary well because of a growing political instability in
several parts of the world and the ongoing flashpoints on earth.
The Board of Management, May 2004
For further information and details about the company please use:
http://www.pgam.com or contact:
pgam advanced technologies AG
Josef A. Marold
Reiner Jung
Beekebreite 18-20
D-49124 Georgsmarienhütte
Tel.: +49 -(0)5401 -490 490
Fax: +49 -(0)5401 -42705
eMail: i-relations@pgam.com
end of message, (c)DGAP 01.06.2004
——————————————————————————–
WKN: 513 840; ISIN: DE0005138408; Index:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverker in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
010912 Jun 04
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found