Winkler + Dünnebier AG

euro adhoc: Winkler + Dünnebier AG
Balanced operating result achieved (E)

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The WINKLER+DÜNNEBIER Group (W+D), Neuwied, achieved a balanced operating result (EBITA) of EUR1.0 million (2002: EUR3.8 million) on revenues of EUR133.1 million (2002: EUR142.5 million), thus exceeding its own forecast. In the first half of the year, the operating loss was totalled EUR3.4 million. The company had originally announced that it would only achieve a balanced result on the basis of the second half-year figures. W+D is announcing these unaudited figures as interim figures. The company is also planning to achieve a balanced operating result in 2004.

Following the significant improvement of the cost structure in the 2003 financial year and the closure of the Spanish factory, W+D will utilise the 2004 financial year to position itself in additional markets, with new products. As the company intends to focus solely on profitable products in the future, W+D will discontinue individual product lines in the Hygiene division. W+D will thus renounce planned sales of EUR8 to EUR10 million. However, it will improve its operating result by approx. EUR2 million. A reduction of staff in Hygiene is also planned in the course of this reorganisation.

Due to the improved cost position, W+D will be able to fully compensate for the weak order situation with which the manufacturer of specialist machines started into the current financial year, in the result. The CEO is therefore once again anticipating a balanced operating result, even on sales of EUR105 to EUR110 million. As a result of the presentation of the new products and a slight increase in demand for envelope machines, the Managing Board is expecting a recovery of the order situation in the second half of the financial year, which is to lead to sales and earnings growth in 2005.

W+D will present the complete annual financial statements in the context of an accounting and analysts’ conference on 17 May on the occasion of the most important specialist exhibition, DRUPA in Dusseldorf. The company will present the HY1 2004 report at the Annual General Meeting, which will be held on 18 August in Neuwied.

end of announcement            euro adhoc 01.03.2004
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Further inquiry note: Tobias M. Weitzel Presse- und Öffentlichkeitsarbeit Tel.: +49(0)2631-84617 E-Mail: ir@w-d.de

Branche: Machine Manufacturing
ISIN:      DE0007790008
WKN:        779000
Index:    CDAX, Classic All Share, Prime Standard
Börsen:  Börse Düsseldorf / official dealing
              Frankfurter Wertpapierbörse / official dealing
              Berliner Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Hamburger Wertpapierbörse / free trade
              Bremer Wertpapierbörse (BWB) / free trade
              Baden-Württembergische Wertpapierbörse / free trade



Weitere Meldungen: Winkler + Dünnebier AG

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