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VA Technologie AG

euro adhoc: VA Technologie AG
Quarterly or Semiannual Financial Statements
VA Technologie AG Quarters 1-3, 2002 (E)

Disclosure announcement transmitted by euro adhoc. The issuer is
responsible for the content of this announcement.
Order intake of the first nine months 2002 at a comparable basis was
at EUR 2,938 m, which is 2% lower than in last year's period. The
order backlog as at September 30, 2002 of EUR 4,301 m has increased
by 2% compared to last year. 
On a comparable basis, Group sales from January through September
2002 were 3% up on the same period of last year at EUR 2,680 m. Sales
include interest on the balance of pre- and partial payments made and
received amounting to EUR 75 m (following EUR 74 m in the first nine
months of 2001). 
In the first nine months of the year, earnings before interest, taxes
and goodwill amortisation (EBITA) amounted to EUR 74.5 m, following a
comparable figure of EUR 53.0 m in 2001. 
The operating result (EBIT) amounted to EUR 49.5 m as opposed to EUR
28.9 m in the same period of the previous year. Third-quarter EBIT of
EUR 29.4 m included the positive effects derived from the reduction
in long-term fixed assets. 
The financial result for the first nine months of the year amounted
to minus EUR 143.3 m following minus EUR 81.0 m in the same period of
the preceding year. This includes the write-down of the investment in
the German company Babcock Borsig Power. The earnings before taxes
(EBT) stood at minus EUR 93.8 m, the loss for the period amounted to
minus EUR 93.3m.
Outlook for 2002
Despite the current uncertainty with regard to the timing of an
economic upturn in the capital goods industry, we expect stable
development among our customers in both the iron and steel industry
and the energy sector. Business development in the Metallurgical
Division should confirm the end phase of the restructuring programme.
We expect a prolongation of the positive business trend in the Hydro
Power Generation, Transmission and Distribution and Infrastructure
Divisions. Following the sharp decline in plant orders in Europe in
the Water Systems Division, a clearly negative result for 2002 must
be anticipated as a consequence of restructuring costs, low capacity
utilisation and cost overruns.  
The write-down of the investment in the German company Babcock Borsig
Power of EUR 44.4 m will also have an effect on the result for the
year. 
We anticipate that VA TECH Group sales and the operating result will
be in the same order of magnitude as last year. 
Group strategy continues to lie in a focus on key markets with high
growth potential, the strengthening of automation and service
business, an orientation towards sustainable solutions and renewable
energies as well as a sustained improvement in earnings power.
The complete quarterly report, this and other VA TECH Group press
releases are available on the homepage http://www.vatech.at.
end of announcement        euro adhoc 21.11.2002

Further inquiry note:

Wolfgang Schwaiger Strategy, Communications and Investor Relations phone: 43 732 6986-9222
fax: 43 732 6980-3416 wolfgang.schwaiger@vatech.at

Branche: Technology
ISIN: AT0000937453
WKN: 093745
Index: ATX, ATX Prime, WBI
Börsen: Bayerische Börse / free trade
Berliner Wertpapierbörse / free trade
Wiener Börse AG / official dealing

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