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Neschen AG

euro adhoc: Neschen AG
Neschen AG announces its half-year result (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
After finishing the first quarter within the framework of
expectation, the Neschen AG lay somewhat behind expectations for the
second quarter. The consolidated turnover to June 30th was EUR72.0M,
3.4% less than in the previous year (EUR74.6M).
In looking at the turnover development it must be taken into account
that the previous years turnover included the foamboard business
which was sold at the beginning of this year. Furthermore, a
considerable turnover volume is being produced by the USA Joint
Venture since the beginning of this year and this company is
consolidated ad equity. 
Considering this effect, the complete Group still achieved a small
growth.
The Neschen companies posted a positive 1st half-year result (EBITDA
approx. 9.3%).
The Seal companies have completed their re-structuring process,
however, with the capacity levels of the new plants in England and
the USA not yet at a sufficient level, a positive result has not yet
been realised.
The EBITDA of the Group lay by 5.4% (previous year 7.7%) and is
burdened by one-time expenses resulting from the sale of the
foamboard business and from the capital increase. The result from
normal business activities amounted to minus EUR0.6M.
The company is currently building up a third product base with
industrial businesses. The high investment in the last few years,
both technically and in capacity, were the prerequisites for this.
The first projects have already been realised. Neschen believes that
this business area will play an important roll in filling production
capacity and bettering the result.
In the current year, the company awaits a better operating result
than in the previous year, however, due to the overall weak Graphics
industry, will probably not achieve the planned goal of  an EBITDA of
8.5%.
end of announcement        euro adhoc 12.08.2004

Further inquiry note:

Jan Marzinowski
Tel.: +49 (0) 5722 207 153
E-Mail: j.marzinowski@neschen.de

Branche: Process Industries
ISIN: DE0005021307
WKN: 502130
Index: CDAX, General 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: Neschen AG
Plus de actualités: Neschen AG