Ad-hoc | 25 July 2006 08:29

Renk AG: Another steep earnings growth

Ad hoc announcement transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. —————————————————————————— Another steep earnings growth RENK looks back on a successful H1/2006. A sharp rise in sales doubled EBIT to EUR16 million. All four divisions – Vehicle Transmissions, Special-Purpose Propulsions Systems, Broad-Use Propulsion Systems, and Drive Elements – contributed. The sound earnings position is also reflected in ROS which advanced from 6.6 in 2005 to 10.7 percent. The still booming shipbuilding industry and worldwide strong demand for slide bearings enabled RENK to improve order intake from EUR142 million to EUR170 million. The sales rise from EUR119 million to EUR151 million is chiefly the consequence of added vehicle transmission orders shipped out. At EUR630 million, order backlog is again very high. At Large Gear Units and Vehicle Transmissions, orders on hand are sufficient to keep production busy beyond 2007. Given the good capacity utilization and the flying start into fiscal 2006, we expect business to continue buoyant through H2/2006. In terms of order intake and sales we are targeting for 2006 figures in the region of EUR350 million, with an EBIT of over EUR30 million. RENK Aktiengesellschaft The Executive Board (c)DGAP 25.07.2006 ————————————————————————— Language: English Issuer: Renk AG Gögginger Str. 73 86159 Augsburg Deutschland Phone: 0821-5700-227 Fax: 0821-5700-573 E-mail: winfried.scheller@renk-ag.com WWW: www.renk-ag.com ISIN: DE0007850000 WKN: 785000 Indices: Listed: Amtlicher Markt in München; Freiverkehr in Berlin-Bremen, Hamburg, Stuttgart; Open Market in Frankfurt End of News DGAP News-Service —————————————————————————