Didier Werke AG

euro adhoc: Didier Werke AG
Preliminary results Didier-Werke 2003 (E)

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Didier-Werke is presenting the (preliminary) results for 2003 according to IFRS for the first time; the figures for 2002 were also converted to IFRS.

The Didier Group reported sales revenues of EUR 433.1 million (previous year: EUR 541.9 million) in the financial year 2003, down 20% on the previous year mainly due to the sale of the Engineering division at June 30, 2002.

In 2002, the operating result (EBIT) of the Didier Group amounted to EUR 16.5 million (previous year: EUR 13.9 million), profit before income taxes was EUR 18.6 million in 2003 (previous year: EUR 4.0 million). The change in the profit for 2002 as published according to German Commercial Code (HGB) in the previous year results from different valuation and the fact that certain expenses were recorded in different years due to the change from HGB to IFRS.

Net income of the Didier Group in 2003 amounted to EUR 9.7 million (previous year: EUR -16.0 million), Didier’s net income attributable to the shareholders of Didier-Werke AG after minorities came to EUR 9.5 million (previous year: EUR -15.8 million).

The profit of Didier-Werke AG amounted to EUR 20.5 million in 2003 (previous year: EUR 10.4 million).

At December 31, 2003, RHI AG held, directly and indirectly, 97.52% of the share capital of Didier-Werke AG.

Following the sale of the Engineering division in 2002, Didier will in future focus on the core competence Refractories within the RHI Group. Under the global RHI Refractories brand, Didier-Werke makes refractories for the production of steel, glass, non-ferrous metals as well as the environment, energy and chemicals industry. Didier is extremely well positioned as technologically accepted and globally attractive product brand for their customers.

end of announcement            euro adhoc 19.05.2004

Further inquiry note: Didier-Werke AG Investor Relations Markus Richter Telefon: +43/1/502 13 - 6123 Fax: +43/1/502 13 - 6130 mailto:markus.richter@rhi-ag.com

Branche: Refractories
ISIN:      DE0005537005
WKN:        553700
Index:    CDAX
Börsen:  Frankfurter Wertpapierbörse / official dealing

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