AUGSBURG, Germany, May 12, 2005 (PRIMEZONE) -- BOWE SYSTEC: - Sales increased by 44% to EUR 95.5 million
- EBITDA for the quarter increased by 152% to EUR 8.3 million
- Order intake in first quarter 2005 up 24% on same period in previous year at EUR 97.6 million
- Anticipated increase of net result for the year 2005 vis-a-vis the previous year (EUR 17.5 million); Group sales of up to EUR 480 million forecast.
At the beginning of the year 2005, the BOWE SYSTEC Group reached a further milestone in the development of the company. With the takeover of the majority share in the US company BOWE Bell + Howell, and the associated full consolidation of this subsidiary (previous quotal share 50%), BOWE SYSTEC achieved a further significant increase of the group figures vis-a-vis the previous year. For this reason, however, the figures for the quarter are only comparable to an extent. The EUR 95.5 million sales of the BOWE SYSTEC Group achieved in the first quarter of 2005 were up 44% on the same quarter of the previous year (EUR 66.4 million). Orders acquired in the same period amounted to EUR 97.6 million and were therefore up around 24% on orders acquired in the same three-month period in 2004 (EUR 78.7 million). Parallel to the increase in turnover, BOWE SYSTEC was once again able to report positive earnings before interest and taxes (EBIT) of EUR 2.2 million in the first quarter of 2005, up from EUR -0.4 million in the previous year. The earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 3.3 million in the first quarter of 2004 rose to EUR 8.3 million in the first quarter of the current financial year. The prognosis for the year 2005 was confirmed with a group turnover of up to EUR 480 million. In terms of the net income for the year, the Board continues to anticipate an increase vis-a-vis the 2004 financial year.
Quarterly financial statement First Quarter according German GAAP (HGB) Financial Year 2005 2004 Order intake (Million EUR) 97.6 78.7 Order backlog (Million EUR) 87.8 52.4 Sales (Million EUR) 95.5 66.4 EBITDA (Million EUR) 8.3 3.3 EBIT (Million EUR) 2.2 -0.4 EBT (Million EUR) -0.5 -1.6 Net results after minority interests (Million EUR) -1.7 -2.4 EPS (EUR) -0.26 -0.37 Employees (March 31st) 3,574 2,709
The complete interim report can be found on http://www.boewe-systec.de or can be requested by calling Tel. +49(0)821 / 5702-365.
Interim report: http://hugin.info/130395/R/993932/150378.pdf
BOWE SYSTEC AG The Board Financial Calendar 2005: Jun 9 Annual Shareholders' Meeting, Augsburg Jun 10 Dividend payment Aug 11 Interim report as of June 30, 2005 Nov 10 Interim report as of September 30, 2005