euro adhoc: Winter AG
Quarterly or Semiannual Financial Statements
/ Preliminary figures for the 3rd quarter 2003: Market situation
leads to a decrease in sales and dampens earnings - Forecast for the
financial year corrected (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Olching near Munich, 17 October 2003. According to preliminary figures, Winter AG, the Prime Standard listed chip card producer, turned over 23.2 million euros in the first nine months of this year. This represents an approximate 30% fall in sales proceeds, compared to the previous years comparable period (33.4 million euros). The reasons for this decrease stem from continuing weak demand due to ongoing heavy pricing pressure in the Cards and Card Services segments. The effects of delayed investment in Winter AGs important customer industries add to this; among others, the postponed introduction of new card systems.
The socially acceptable downsizing of the workforce forms a part of the restructuring plan initiated a few months ago. As at the end of this reporting period, Winter AG employed 255 people, compared to 326 as at 30.9.2002 (-22%).
Pricing pressure and weak demand are placing strain on earnings. EBIT for the first nine months of the financial year were minus 3.6 million euros (compared to minus 1.1 million euros for the first nine months of 2002). Although ongoing restructuring measures were able to limit this negative development, it could not be entirely counter-balanced. The share capital ratio was 51% at 30.9.2002.
In light of the current market situation and the first nine months results, Winter AG reckons on EBIT of minus 4.3 million euros against revenues of 31 million euros, to the end of fiscal 2003. The model of the half-years figures announced in the 2003 forecast (Sales: 37 million euros, EBIT: minus 2 million euros) have been thereby corrected. Winter expects a sustainable recovery in the marketplace for the year 2004.
end of announcement euro adhoc 17.10.2003
Further inquiry note:
Susann Hoffmeister
Marketing & IR Leitung
T.: +49(0)174 300 3950
susann.hoffmeister@winter-ag.com
Branche: Computing & Information Technology
ISIN: DE0005555601
WKN: 555560
Index: CDAX, Prime All Share, Prime Standard, Technologie All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Niedersächsische Börse zu Hannover / free trade
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Hamburger Wertpapierbörse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade