euro adhoc: HTP High Tech Plastics AG / Earnings Forecast / Third quarter: Revenues in line with forecasts, earnings below expectations on account of weak capacity utilization in the Mold Service division (E)

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Neudörfl, Austria, November 12, 2002. HTP High Tech Plastics AG is revising its forecasts for 2002 to allow for the fact that general economic conditions have worsened contrary to original expectations. Preliminary figures for the third quarter reveal only marginal EBIT (before restructuring charges) of EUR 0.3 million on revenues of EUR 56.3 million. Restructuring charges in the first nine months of the year came to roughly EUR 0.6 million.
These figures are due to project postponements on the part of HTP customers, who have put off the launch of new products by 3-4 months on account of the sustained weak economy and muted consumer spending.

For this fiscal year as a whole, HTP AG now only expects an EBIT margin close to zero and, hence, a small consolidated loss. The weak state of the economy is necessitating extensions to the cost-cutting program. HTP will be adjusting capacity in its Mold Service division and forecasts minimum revenues of EUR 82 million in tandem with a substantial profit in 2003.

Further inquiry note:
HTP High Tech Plastics AG
Mag. Isolde Kühhas
Tel.: 0664/3262647
Fax: 02253/20167
ikuehhas@htp.at
Tel: 02622/406-0
FAX: 02622/406-102
Email: investor@htp.at

end of announcement euro adhoc

Emittent: HTP High Tech Plastics AG
Fabriksgelände 1
AT-7201 Neudörfl
Tel: 02622/406-0
FAX: 02622/406-102
Email: investor@htp.at
WWW: http://www.htp.at
ISIN: AT0000764600
WKN: 928963
Indizes: SMAX
Börsen: free trade Baden-Württembergische Wertpapierbörse, Bayerische Börse, Berliner Wertpapierbörse, Börse Düsseldorf, Hamburger Wertpapierbörse; official dealing Frankfurter Wertpapierbörse
Branche: Synthetics & Plastics
Sprache: Englisch

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