Ad-hoc | 6 May 2003 07:30

Deutz AG english

Report on 1st quarter 2003 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– New orders exceed expectations Economic conditions hold sales and profits below last years levels Financial debt substantially reduced. DEUTZ is successfully steering against the still adverse economic current. New orders in the first quarter of this year came to EURO 316.0 million, and were thus well over the yardstick of last years figure (EURO295.4 million). The new course of the Re-Launch programme, which was started a few years ago, is bearing fruit and securing the approximately 5,500 jobs in the com-panys worldwide operations. The frosty climate for investment, however, has left its mark on the first quar- ters results. The figure of 36,744 engines sold is 4.7 percent below the unit sales figure in the same period in 2002 (38,569 engines). The sales figure of EURO257.9 million likewise fell just short of the preceding years figure of EURO265.9 million. The DEUTZ Group achieved operating profits (EBIT) for the quarter of EURO5.2 million (2002: EURO7.4 million) and the company loss increased from EURO1.8 million to EURO3.8 million. There was a satisfactory trend in cash flow before financial activities, which came to an inflow of EURO11.2 million as against the previous years outflow of EURO0.1 million. This enabled net financial debt to be reduced further; as of 31st March 2003 it was only EURO290.8 million, well below the figure a year earlier of EURO339.8 million and also below the figure of EURO302.0 million reached on 31st December 2002. Cologne, 6th May 2003 / DEUTZ AG / Management Board end of ad-hoc-announcement (c)DGAP 06.05.2003 ——————————————————————————– WKN: 630500; ISIN: DE0006305006; Index: SDAX Listed: Amtlicher Markt in Düsseldorf und Frankfurt (Prime Standard); Freiverkehr in Berlin-Bremen, Hamburg, Hannover, München und Stuttgart 060730 Mai 03