Neschen AG

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

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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
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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



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