HTI High Tech Industries AG

euro adhoc: HTP High Tech Plastics AG
Earnings Forecast
Third quarter: Revenues in line with forecasts, earnings below expectations on account of weak capacity utilization in the Mold Service division (E)

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Neudörfl, Austria, November 12, 2002. HTP High Tech Plastics AG is revising its forecasts for 2002 to allow for the fact that general economic conditions have worsened contrary to original expectations. Preliminary figures for the third quarter reveal only marginal EBIT (before restructuring charges) of EUR 0.3 million on revenues of EUR 56.3 million. Restructuring charges in the first nine months of the year came to roughly EUR 0.6 million. These figures are due to project postponements on the part of HTP customers, who have put off the launch of new products by 3-4 months on account of the sustained weak economy and muted consumer spending.

For this fiscal year as a whole, HTP AG now only expects an EBIT margin close to zero and, hence, a small consolidated loss. The weak state of the economy is necessitating extensions to the cost-cutting program. HTP will be adjusting capacity in its Mold Service division and forecasts minimum revenues of EUR 82 million in tandem with a substantial profit in 2003.

end of announcement            euro adhoc 12.11.2002

Further inquiry note: HTP High Tech Plastics AG Mag. Isolde Kühhas Tel.: 0664/3262647 Fax: 02253/20167

Branche: Synthetics & Plastics
ISIN:      AT0000764600
WKN:        928963
Index:    SMAX
Börsen:  Baden-Württembergische Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Berliner Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Hamburger Wertpapierbörse / free trade
              Frankfurter Wertpapierbörse / official dealing

Weitere Meldungen: HTI High Tech Industries AG

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