Ad-hoc | 12 February 2004 08:11

RENK raises order intake, sales, and earnings in 2003

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– RENK raises order intake, sales, and earnings in 2003 In an economically tough fiscal 2003, RENK succeeded in reversing the downswing evident until midyear by generating a strong H2 performance. Compared with the previous year, the key figures showed an improvement. Order intake climbed 6 percent to EUR324 million, sales by 5 percent to EUR267 million, and order backlog at Dec. 31, 2003, hit a new all-time high of EUR639 million. Both EBIT and EBT advanced to EUR22 million and EUR20 million, respectively. Adjusted for the extraordinary result, EPS rose by 12 percent, from EUR1.56 in 2002, to EUR1.74 in 2003. It will be proposed to the annual stockholders’ meeting to once again distribute a cash dividend of EUR1.20 per share for fiscal 2003. The stock repurchase option allowed by the stockholders’ meeting was not exercised in 2003. For 2004, growth is generally predicted, albeit this might be stifled by the euro/dollar parity. Nonetheless, since most of RENK’s business is transacted in euros, we do not expect the exchange rate to pose any grave risk to earnings. Hence, we hope to repeat the healthy earnings of 2003. RENK Aktiengesellschaft The Executive Board end of ad-hoc-announcement (c)DGAP 12.02.2004 ——————————————————————————– WKN: 785000; ISIN: DE0007850000; Index: Listed: Amtlicher Markt in München; Freiverkehr in Berlin-Bremen, Frankfurt, Hamburg und Stuttgart 120811 Feb 04