Rosenbauer International AG

euro adhoc: Rosenbauer International AG
Quarterly or Semiannual Financial Statements
• High capacity utilisation resulting from a large number of individual orders • Important orders from USA and Spain • Absence of high-margin major orders reducing

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2004 has been characterised by comparatively high capacity utilisation, resulting from a large number of individual orders. In the period under review, this has taken revenues to the same high levels as in the first three quarters of 2003. Owing to the absence this year of high-margin major orders, the result is noticeably smaller, however.

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KEY FIGURES                                                1-9/2004 1-9/2003
Revenue                                            in m EUR 216.5      217.9
EBIT                                                 in m EUR 8.0         14.4
EBT                                                  in m EUR 6.0         12.0
Profit after tax                              in m EUR 4.0         7.9
Net profit for the period                in m EUR 1.6         4.6
Cash-flow from pre-tax profit         in m EUR 9.6         15.3
Capital investments                         in m EUR 3.4         5.1
Order books as of 30.09.                 in m EUR 203.2      216.3
Order intake                                    in m EUR 247.9      212.2
Employees                                                  1,365      1,285
Market capitalisation as of 30.09. in m EUR 80.6        59.6
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The trend in incoming orders in the USA and in the field of
international project business has remained highly positive
throughout the current financial year. Since the major order
announced at the end of June for 18 air crash tenders worth EUR 11.6
m for Australia, two more major orders have been received, this time
from the USA (170 fire-fighting vehicles with a total value of USD
34.9 m) and Spain (26 PANTHER air crash tenders worth EUR 16.2 m)

In Europe, the third quarter of 2004 still brought no sign of any improvement in the unfavourable market situation. The pressure on margins in the German domestic market - in both the turntable-ladder and fire-fighting vehicle sectors - has intensified yet further, so that despite reduced costs a positive result is still out of reach.

REVENUE AND RESULTS TRENDS For the first three quarters of 2004, the Group posted EBT of EUR 6.0 m (1-9/2003: EUR 12.0 m) on Group revenues of EUR 216.5 m (1-9/2003: EUR 217.9 m). This reduction in the size of the result is primarily attributable to the completion of work on the previous two years' run of major orders, which have been succeeded by a large number of lower-margin individual orders. In relation to their size, individual orders generally cause higher production costs than major orders, as certain economies of scale - in terms of both purchasing and manufacturing - no longer apply here.

OUTLOOK Although the order-book structure is now rather different from in previous years, with a large number of individual, low-margin projects, there is still a very realistic prospect of the revenue and earnings goals (EUR 300 m and EUR 10 m respectively) being attained - provided, that is, that there are no adverse developments in the USD exchange rate, and that vehicle shipments proceed as planned.

With the two major orders received after the quarter-end date from the USA and Spain, the volume of orders on hand in the Rosenbauer Group has reached a new record level - paving the way for a highly successful 2005.

end of announcement                                euro adhoc 19.11.2004 07:55:00
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Further inquiry note: Marlene Schneider

Branche: Machine Manufacturing
ISIN:      AT0000922554
WKN:        092255
Index:    WBI, ATX Prime
Börsen:  Berliner Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Wiener Börse AG / official dealing



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