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Abonner HTI High Tech Industries AG

HTI High Tech Industries AG

euro adhoc: HTP High Tech Plastics AG
Annual Reports
HTP’s preliminary annual result for fiscal 2003 (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
* Restructuring expenditure and high depreciation cause EBIT of 
EUR - 6.7 million and positive EBITDA of EUR 1.5 million
* Sales target achieved with expected EUR 81.5 million (plus 15 %) 
* New order entries of about EUR 100 million increase order level to
almost EUR 360 million
With a preliminary EBIT of nearly EUR -6.7 million for fiscal 2003,
the HTP High Tech Plastics AG will record a clearly negative result.
In the second half of the past year, a large number of determinants
was leading to this deterioration in result.
First of all, the restructuring of the precise injection molding
company with regard to the mold service has to be mentioned. On the
one hand, the company was consolidating the Tribuswinkel and Neudörfl
sites under one roof in Neudörfl and thus has established a new
technology center which is mainly focusing on special mold service
and injection molding of precise and smallest parts. Furthermore, in
the past year, HTP has been resizing its mold service capacities at
the Fohnsdorf location since in future this site will primarily
produce molds for HTP’s own requirements. For third parties, HTP will
only manufacture technically demanding molds e.g. for multi-component
injection molding.
During the period under review, additionally the re-evaluation of
inventories had an impact on the financial result. A one-time
conversion of the evaluation basis was resulting in a difference of
EUR 1.2 million, which is reflecting correspondingly on the result.
Personnel expenditure (of EUR 31.5 million) was developing
disproportionately compared to the company performance. This increase
was mainly caused by efforts involved in the context of the
integration of Kocian Kunststofftechnik acquired in February 2003
into the HTP Group as well as predevelopment and development
activities for individual projects.
However, despite the numerous restructuring measures, sales of the
HTP Group were again developing positively. Sales increased by more
than 15 % to EUR 81.5 million. Likewise, the order entry of EUR 100
million which resulted in an  order level increase to almost EUR 360
million at December 31, 2003 is radiating positively.
In order to create a solid basis for the profitable processing of the
high order level, the Management strives to finalise the
restructuring measures within the current year.
~ 
in EUR mn    2002   2003
Sales        70.5   81.5
EBITDA        5.6    1.5
EBIT         -1.1   -6.7
~
~
end of announcement        euro adhoc 31.03.2004

Further inquiry note:

Isolde Kühhas
+43 664/3262647

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

Plus de actualités: HTI High Tech Industries AG
Plus de actualités: HTI High Tech Industries AG