Linz, 25.05.2004 - Disclosure announcement transmitted by euro adhoc.The issuer is responsible for the content of this announcement.
VA Technologie AG VA Technologie AG: First quarter of 2004 - highestorder intake since the founding of the Group
? Order intake up by 23% at EUR 1,295 m.? 14% increase in order backlog and sales ? Net result at the level of the preceding year ? Liquidity stays high, Group remains debt-free
During the first quarter of 2004, order intake in the VA TECH Grouprose by 23% to EUR 1,295 m. This pleasing development was due largelyto the increase of order intake in Metallurgy (+88%) andInfrastructure (+30%). Between January and March 2004, VA TECH raisedits sales by 14% to EUR 914 m. Here, too, Metallurgy (+34%) andInfrastructure (+29%) showed the strongest growth rates. The rise insales and cost structure improvements led to an increase in earningsbefore interest, taxes and goodwill amortisation (EBITA) of 17% toEUR 30 m. Higher goodwill (EUR 14.6 m) prompted a fall of EUR 2.2 min the operating result (EBIT) to EUR 15.4 m. This figureincorporated the book profit from divested units (EUR 22 m), expensesfor restructuring (EUR 13.6 m) and extraordinary goodwillamortisation of EUR 8.7 m. Therefore, the net result for the Groupremained on a par with that of the preceding year at minus EUR 7.6m.The VA TECH Group?s financial result for the first three months ofthe year changed from minus EUR 25.3 m to minus EUR 26.5 m. Netliquidity amounted to EUR 213 m and remained at the high level of theprevious year. Free cash flow amounted to minus EUR 25 m (Q1 2003:minus EUR 35 m).The improvement in the investment climate in the capital goodsindustry should continue for the rest of the year. Positive impulsesare available in both the metallurgy technology and energy sectors.Therefore, VA TECH awaits a stable order situation and order intakeat the 2003 level, even after the sale of some operative units. Onthe basis of the solid order book situation, it is anticipated thatsales in 2004 will be of the same order of magnitude as in thepreceding year. In addition, a further improvement in results isexpected.
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WKN: 093745ISIN: AT0000937453Marktsegment: ATX, ATX Prime, WBI, official dealing Wiener Börse AG;free trade Berliner Wertpapierbörse, Bayerische Börse