Ireland | 9 May 2007 19:17
Saint-Gobain Oberland AG / Release of an announcement according to article 37 WpHG [German Securities Trading Act]
Interim report according to article 37 WpHG, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Key developments and business transactions in the reporting period
The market trend in the area of container glass in the first quarter of
2007 can be generally described as positive. The utilization of capacity in
production is good, production bottlenecks in Germany are partly and
temporarily being compensated for by imports.
At the Bad Wurzach plant, a repair to a furnace was completed according to
schedule in February and March, in Essen a repair was started in March.
The yield, finance and assets situation mainly affected by these
developments will be outlined below.
Yield situation
Sales of the Saint-Gobain Oberland Group in both volume and value terms in
the first quarter of 2007 were above the level of the previous year. This
is due, primarily, to the positive market trend in the area of disposable
bottles and in the segments of wine and sekt.
In particular, due to the increasing production costs, as well as the
one-off effect resulting from the sale of Futronic in 2006, despite the
sales increases in 2007, the Group result after taxes in the first quarter
of 2006 was higher than it was in the same period of this year.
Finance situation
The investments during the reporting period are significantly higher than
in the corrsponding period of the previous year, mainly due to the furnace
repairs in Bad Wurzach und Essen.
As a consequence of the higher investments, the cashflow shows a decline in
comparison to the first three months of the previous year.
Assets situation
In particular, the investments exerted an influence on the increase in the
balance sheet total in the first quarter of 2007. The equity ratio as of
31st March 2007, in contrast, deviated only marginally from the Group
financial statement as of 31st December 2006.
Assessment of the risk situation
The risk situation at the end of the quarter is comparable to that as of
31st December 2006. Thus also currently no risks are evident which threaten
the company's assets.
May 2007
Saint-Gobain Oberland AG
The Board of Directors
DGAP 09.05.2007
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Language: English
Issuer: Saint-Gobain Oberland AG
Oberlandstraße
88410 Bad Wurzach Deutschland
www: www.saint-gobain.com
End of News DGAP News-Service
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