Ad-hoc | 16 December 2004 06:37

DGAP-Ad hoc:Norddeutsche Affinerie AG: Return to the attractive dividend policy

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­ Return to the attractive dividend policy The results of Norddeutsche Affinerie (NA) have fulfilled all expectations. In total, the fiscal year closed with a pre-tax profit of Euro 47 million (Euro 3 million in the previous year). In the fiscal year earnings before interest, taxes and depreciation/amortisation (EBITDA) amounted to Euro 129 million (Euro 79 million in the previous year). Earnings before interest and taxes (EBIT) also increased significantly to Euro 58 million (Euro 16 million in the previous year). The consolidated net income including minority interest totalling Euro 25 million is at a very satisfactory level (Euro 3 million in the previous year). This results in earnings per share of Euro 0.76 (Euro 0.10 in the previous year). Due to this positive development, a dividend payment of 65 cents per share will be recommended at the Annual General Meeting on 31 March 2005. In so doing, NA is returning to its attractive dividend policy. A major contribution to this very good result was made by the continued strong demand for NA copper products which increased over the course of the year. At the same time the sustained high copper price supported the recovery on the raw material markets. All-time highs were achieved in the production of copper products. This has further enhanced NA’s market position in Europe. The output of wire rod was up 17 % to 399,000 tonnes (342,000 tonnes in the previous year), the production of continuous cast shapes rose by 33 % to 257,000 tonnes (193,000 tonnes in the previous year). The demand for copper will continue in 2005. The rapid growth on the East Asian and North American markets is reflected in the fast-growing demand for copper worldwide. With high, stable copper prices the situation on the raw material markets will improve. NA therefore assumes that the treatment and refining charges on the spot markets will remain at a high level and the conditions for long-term contracts will also improve. The impact of the trend in the U.S. dollar on NA’s treatment and refining charges is, however, limited in the current fiscal year since revenues have already been hedged. The copper market is characterised by an historical cathode shortage. In this situation it is particularly advantageous for NA’s product customers that NA has its own cathode production. For wire rod NA expects the order intake to remain stable, in the continuous cast shape sector the high order intake will continue. Overall NA expects business performance to continue along the same positive trend as in the last fiscal year. end of ad-hoc-announcement (c)DGAP 16.12.2004 ­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­­ WKN: 676650; ISIN: DE0006766504; Index: MDAX Listed: Amtlicher Markt in Frankfurt (Prime Standard) und Hamburg; Freiverkehr in Berlin-Bremen, Düsseldorf, München und Stuttgart 160637 Dez 04