Ad-hoc | 5 August 2003 07:39

technotrans AG english

technotrans figures Q2 and HY 2003 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– The half year figures 2003 of technotrans, leading systems supplier of equipment for the printing industry and the manufacture of micro technology, for the second quarter in succession show that the fall in revenue has slowed down and the stabilisation at a low level can currently be witnessed. Consolidated revenue fell by 17.4 percent to just over EUR 50 million in the first half of 2003 (HY 02: 60.6 million EUR). The crisis in the printing industry had an impact on the Print segment, revenue for which was sharply down by 24.5 percent. The revenue of the remaining two segments is on a par with the previous year, and thus on course. Despite the low level of revenues profitability improved. The gross margin was boosted from 31.8 percent in the first quarter to 33.1 percent in the second quarter of this year (HY 02: 32.2 percent). The EBITDA margin for the first half showed a year-on-year improvement, from 10.3 to 10.8 percent (EUR 5.4 million, – 13.5 percent). The operating profit improved from 5.0 percent in the first quarter to 5.8 percent in the first half (EUR 2.9 million, – 21 percent). As a result of higher tax expense of around EUR 370,000, the group reports a net profit of just under EUR 1 million for the first half 2003 (HY 02: EUR 1.8 million). This corresponds to IFRS earnings per share of EUR 0.15 (HY 02: EUR 0.27). At June 30, 2003 cash was up from EUR 7.3 million to almost EUR 8.5 million (+ 15.9 percent). Cash flow showed an 18 percent improvement on the first half of 2002, to EUR 5.2 million, and the free cash flow rose from EUR 3.5 to EUR 3.9 million. At the reporting date of June 30, 2003 technotrans had a total of 577 employees (HY 02: 636, -9.3 percent). Management is cautiously optimistic about further development and is working on the basis that the risk of a further downturn in the business is very limited. As matters stand business is expected to stabilise at this level, with a mildly positive trend emerging towards the end of the year. Profitability again takes precedence over achieving any particular revenue targets this year, as exchange rate movements also have some impact on the situation. Management therefore expects to be able to achieve the earnings targets on an operating level even with lower revenues. www.technotrans.com – here the Interim Report 1-6/2003 and the full Press Release are available for download. end of ad-hoc-announcement (c)DGAP 05.08.2003 ——————————————————————————– WKN: 744900; ISIN: DE0007449001; Index: NEMAX 50 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 050739 Aug 03