13.05.2004 – 16:22

Neschen AG

euro adhoc: Neschen AG
Earnings
Positive first quarter at the Neschen AG (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.

The Neschen AG closed the first quarter 2004 within the framework of
its expected result.

A positive turnover development was realised in the first quarter of
2004 after the three previous, somewhat weaker quarters caused by the
weak overall economic situation. The turnover of 36M EUR was at the
level of the first quarter 2003, taking into account the
consolidation changes. The order backlog has increased by 43% by the
end of the first quarter compared to the previous year. This
represents a turnaround of the negative turnover development of the
last three quarters.

The raw yield is well above forecast with the personnel and material
costs below forecast. The cost-reduction measures introduced in the
second quarter 2003 are continuing to bear fruit in the current
fiscal year.

The EBITDA lies by 7.6% (previous year 7.8%) and confirms the
positive trend compared to the year 2003 (6.2%).

The Neschen AG sees positive signs in many countries pointing to a
livening of the market in the most important turnover segments of the
advertising branch. These market developments, as well as the
introduction of newly developed products, will lead to a turnover
increase over the previous year.

The expected result of the current fiscal year is an EBITDA of
approx. 8.5% and an EBIT of approx. 5.0%.

The mid-term yield goal of the Group is an EBITDA in double-digits
and an EBIT of 7.0%.

end of announcement        euro adhoc 13.05.2004

Further inquiry note:

Jan Marzinowski
Tel.: +49 (0) 5722 207 153
E-Mail: j.marzinowski@neschen.de

Branche: Process Industries
ISIN: DE0005021307
WKN: 502130
Index: CDAX, General Standard
Börsen: Frankfurter Wertpapierbörse / official dealing
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Hamburger Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade