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06.05.2004 – 23:47

Kaba Holding AG

euro adhoc: Kaba Holding AG
Kaba reports gradual uptrend in sales (E)

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

Within the scope of the "Kaba talks" that are taking place today, the management will also inform the participating analysts and business partners about the course of business from January 1 to March 31, 2004. This information could be regarded as share-price-relevant. In the interest of maintaining high communication standards and complying with the regulations of the SWX Swiss Exchange with respect to ad-hoc publicity, Kaba has resolved to publish the following press release.

Rümlang, May 7, 2004  -  The trend in sales generated by the Kaba Group in the third quarter of financial 2003/04 suggests that the long-awaited rebound in the security sector is    gradually beginning to materialize. In the period from January 1 to March 31, 2004, Kaba posted a 3% gain in currency-adjusted organic growth in comparison with the same prior-year quarter. In the first half of financial 2003/04 (July 1 to December 31, 2003), currency-adjusted sales - as published in the semi-annual report on March 8, 2004 - lagged 1% behind the prior-year period.

Moreover, for the first time since the acquisition of Unican in April 2001, the appreciation of the Euro resulted in a positive currency effect. Consequently, consolidated sales expressed in Swiss francs grew by more than the above-mentioned 3% in the period from January to March 2004.

Kaba’s CEO Ulrich Graf commented: "I believe that the positive trend versus the prior year is already reflected in the earnings expectations. The residual risks are related mainly to currency developments - in particular a further depreciation of the US dollar versus the Swiss franc - and rising commodity prices."  

Kaba is a globally active, publicly traded security corporation. With its «Total Access» strategy, the Kaba Group is specialized in integrated solutions for security, organization, and convenience at building and information access points. Kaba is also the world market’s No. 1 provider of key blanks, key cutting and coding machines, transponder keys, and high security locks. It is a leading provider of electronic access systems, locks, master key systems, hotel locking systems, security doors, and automatic doors. Further information is available at

This communication contains certain forward-looking statements including statements using the words "believes", "assumes", "expects" or formulations of a similar kind. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which could lead to substantial differences between the actual future results, the financial situation, the development or performance of the Company and those either expressed or implied by such statements. Such factors include, among other things: competition from other companies, the effects and risks of new technologies, the Company's continuing capital requirements, financing costs, delays in the integration of acquisitions, changes in the operating expenses, the Company's ability to recruit and retain qualified employees, unfavorable changes to the applicable tax laws, and other factors identified in this communication. In view of these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company accepts no obligation to continue to report or update such forward-looking statements or adjust them to future events or developments.

end of announcement            euro adhoc 06.05.2004

Further inquiry note: Ulrich Graf, CEO; Tel. +41 1 818 90 21 Dr. Werner Stadelmann, CFO; Tel. +41 1 818 90 61

Branche: Semiconductors & active components
ISIN:      CH0011795959
WKN:        1179595
Index:    SPI
Börsen:  SWX Swiss Exchange / official dealing