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Winkler + Dünnebier AG

euro adhoc: Winkler + Dünnebier AG
Balanced operating result achieved (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
The WINKLER+DÜNNEBIER Group (W+D), Neuwied, achieved a balanced
operating result (EBITA) of EUR1.0 million (2002: EUR3.8 million) on
revenues of EUR133.1 million (2002: EUR142.5 million), thus exceeding
its own forecast. In the first half of the year, the operating loss
was totalled EUR3.4 million. The company had originally announced
that it would only achieve a balanced result on the basis of the
second half-year figures. W+D is announcing these unaudited figures
as interim figures. The company is also planning to achieve a
balanced operating result in 2004.
Following the significant improvement of the cost structure in the
2003 financial year and the closure of the Spanish factory, W+D will
utilise the 2004 financial year to position itself in additional
markets, with new products. As the company intends to focus solely on
profitable products in the future, W+D will discontinue individual
product lines in the Hygiene division. W+D will thus renounce planned
sales of EUR8 to EUR10 million. However, it will improve its
operating result by approx. EUR2 million. A reduction of staff in
Hygiene is also planned in the course of this reorganisation.
Due to the improved cost position, W+D will be able to fully
compensate for the weak order situation with which the manufacturer
of specialist machines started into the current financial year, in
the result. The CEO is therefore once again anticipating a balanced
operating result, even on sales of EUR105 to EUR110 million. As a
result of the presentation of the new products and a slight increase
in demand for envelope machines, the Managing Board is expecting a
recovery of the order situation in the second half of the financial
year, which is to lead to sales and earnings growth in 2005.
W+D will present the complete annual financial statements in the
context of an accounting and analysts’ conference on 17 May on the
occasion of the most important specialist exhibition, DRUPA in
Dusseldorf. The company will present the HY1 2004 report at the
Annual General Meeting, which will be held on 18 August in Neuwied.
end of announcement        euro adhoc 01.03.2004

Further inquiry note:

Tobias M. Weitzel
Presse- und Öffentlichkeitsarbeit
Tel.: +49(0)2631-84617
E-Mail: ir@w-d.de

Branche: Machine Manufacturing
ISIN: DE0007790008
WKN: 779000
Index: CDAX, Classic All Share, Prime Standard
Börsen: Börse Düsseldorf / official dealing
Frankfurter Wertpapierbörse / official dealing
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Hamburger Wertpapierbörse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Baden-Württembergische Wertpapierbörse / free trade

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