Ad-hoc | 19 March 2007 15:54
Textilgruppe Hof AG / Final Results
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Textilgruppe Hof AG with higher group result
According to the provisional numbers for the fiscal year 2006 the group
result of Textilgruppe Hof based on IFRS is closing at 1.4 Mio. € (compared
to 0.6 Mio. € at previous year). Due to a pick up in the business the
turnover of the group increased in 2006 by 8.2 Mio. € or 5.6% to 181 Mio. €
in total.
Despite an increased risk precaution for foreign business the result
improved. Especially the better utilization of the yarn capacities affected
the profit position positively. The operating results of the individual
subsidiaries improved more than the development of the group result is
showing. The group result in 2006 was also charged with the earning
situation of one foreign subsidiary in the USA and other risk precautions.
Based on the realized profit the group equity of Textilgruppe Hof has
increased by 1.3 Mio. € and is totalling now to about 85.0 Mio. € which is
over 46%.
The circle of affiliated companies enlarged due to the purchase of two
small subsidiaries in Romania which caused a slight decrease of the
so-called 'economical' equity (equity plus grants by public sector plus
subsequent shareholder’s loan ) compared to total assets.
Compared to previous year the result of Textilgruppe Hof AG as the holding
company of Textilgruppe was lower due to the mentioned risk precautions at
individual companies especially the subsidiary in the USA. The result was
about 1.4 Mio. € compared to 1.7 Mio. € in 2005. The portion in profit per
share of Textilgruppe Hof AG based on the group result was almost 0.30 €.
In 2006 the capital expenditure in a new factory for nonwoven production
was completed as scheduled. The first sales from that factory were already
made in January.
Management Board
Textilgruppe Hof AG
Fabrikzeile 21 – D-95028 Hof
Telefon ++49 9281 49-0, Telefax ++49 9281 49-216
vorstand@textilgruppehof.com
DGAP 19.03.2007
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Language: English
Issuer: Textilgruppe Hof AG
Fabrikzeile 21
95028 Hof Deutschland
Phone: ++49 9281 49-0
Fax: ++49 9281 49-216
E-mail: vorstand@textilgruppehof.com
www: www.textilgruppehof.com
ISIN: DE0006760002
WKN: 676000
Indices:
Listed: Amtlicher Markt in München
End of News DGAP News-Service
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