euro adhoc: Neschen AG
Financial Figures/Balance Sheet
Neschen AG -2005
results burdened by restructuring programme
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
11.04.2006
Neschen Group will return a net loss after tax (per IFRS) of approx. -9.4 mEUR (2004 -15.1 mEUR). This includes extraordinary expenses of approx. 7.9 mEUR for the restructuring programme (previous year also 7.9 mEUR). These expenses were incurred due to the closure of SEAL Graphics Europe B.V. in Raalte, Netherlands and personnel down-sizing in Bückeburg, Germany.
The result before extraordinary expenses improved by 5.8 mEUR to -1.4 mEUR. The goal of achieving break even before extraordinary expenses was not achieved yet.
The EbIT lay by -2.9% (2004: -6.6%), the EbITDA by 1.8% (2004: -1.5%). The turnover was 136.2 mEUR (previous year 140.3 mEUR). Sales decreased by 1.7% after adjustments of discontinued sales.
The financial statements, for the first time per IFRS, show a shareholder equity of 1.2 mEUR (2004: 8.4 mEUR) and reflects the reduction due to the restructuring programme.
Shareholder´s equity of Neschen AG (accord. to commercial code) lay by 10.2 mEUR (previous year 22.7 mEUR). The loss of 12.6 mEUR set against the financial reserves.
After completion of the restructuring programme which cost approx. 16 mEUR, Neschen AG aims to increase its group equity basis.
To optimize the cost structure, a consolidation of the US-companies
took place in March 2006. The two-brand-strategy ("Neschen" and
"SEAL") will continue with the new company "Neschen Americas".The group sales-budget for the current year is 135 mEUR. Up to the end of February, the budgeted sales and results were on target; with the preliminary sales for March the results are expected to be achieved.
end of announcement euro adhoc 11.04.2006 19:51:52
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
Börsen: Börse Berlin-Bremen / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Frankfurter Wertpapierbörse / official dealing/general
standard
Niedersächsische Börse zu Hannover / official dealing