AUGSBURG, Germany, July 30, 2002 (PRIMEZONE) -- BOWE SYSTEC AG (Security no. 523 970) can look back on the first half of the 2002 financial year with some satisfaction given the world-wide economic downturn. With sales of EUR 95.1 million compared to EUR 102.6 million in the first half of 2001, BOWE SYSTEC was not immune to the changes happening in the worldwide economy. Mirroring the pattern for sales, the operating profit from normal business activities dropped from EUR 7 million in the 2001 half to EUR 6.5 million in the reporting period. Even though the market is currently weak, these still represent the second highest half-year sales and operating profit figures in the company's history.
BOWE SYSTEC is one of the most innovative paper management companies in the world, and this is reflected in the return on sales, which is still high. Market analyses in Europe and the USA show no signs that the economic environment is likely to improve during 2002, however. After eight financial years in succession in which BOWE SYSTEC has consistently registered new highs for sales and operating profit, the Management Board is assuming that last year's results will not be exceeded in 2002. Rather it expects that sales and operating profits for the whole of 2002 will, like the 2002 half-year results, be 7% below those for 2001. However, it feels that this will still be another excellent result for the company.
6 months
Business year
2002 2001 2000
Order intake (million EUR) 86.7 97.8 104.7
Sales (million EUR) 95.1 102.6 92.6
EBITDA (million EUR) 11.9 11.8 10.2
EBIT (million EUR) 7.7 8.8 7.7
EBT (million EUR) 6.5 7.0 5.8
EPS (EUR) 0.61 0.67 0.55
Employees 1,876 1,851 1,793
The attached detailed interim report can also be called up under http://www.boewe-systec.de and a copy requested by telephoning +49(0)821 / 5702-365.
Other dates: Interim report as at 30.09.2002: 29 October 2002