AUGSBURG, Germany, March 25, 2004 (PRIMEZONE) -- BOWE SYSTEC reaches new heights in 2003: Notification in accordance with Sect. 15 WpHG
- Turnover soars to EUR 346.4 million (+69%)
- EBITDA rises to EUR 44 million (+29%)
- Annual net profit EUR 16.2 million (+16%)
BOWE SYSTEC AG (WKN 523 970), Augsburg, one of the world's leading manufacturers of Paper Management Systems and supplier of ancillary services, displayed a satisfactory overall development in the accounting year 2003.
As a result of acquisitions, the BOWE SYSTEC Group achieved a steep rise in turnover of 69% to EUR 346.4 million in 2003 following EUR 204.6 million in 2002. The net earnings of EUR 16.2 Mio. represent a new high in the history of the company. The results were negatively affected by the distinct drop in the value of the US$ against the Euro and by non-recurrent expenditure for the integration of the 50% share in BOWE Bell+Howell, USA.
At today's meeting, the Supervisory Board of BOWE SYSTEC AG approved the recommendation of the Board to propose a dividend payment of EUR 1.25 per share at the General Meeting which is scheduled for 19 May, 2004. The dividend per share would therefore remain at the previous year's level whereas the sum of dividends paid out would increase to EUR 8.2 million, up from EUR 7.3 million in the previous year, primarily as a result of the 500,000 new shares placed in December 2003.
The complete Annual Financial Statement for 2003 will be presented by the Board on 5 April, 2004 in Munich during the financial statement press conference which starts at 10 a.m.
BOWE SYSTEC AG
The Board
-0- BOWE SYSTEC AG Werner-von-Siemens-Str. 1 D-86159 Augsburg Alfred Just Tel.: +49(0)8 21/57 02-365 Fax: +49(0)8 21/57 02-214 Just.controlling@boewe-systec.de