euro adhoc: HTP High Tech Plastics AG / Annual Reports / Annual result 2002 (E)

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  • Sales increase despite subdued economy
  • Negative result due to project delays
  • Cautious optimistic outlook for 2003
  • Attractive projects

Despite project postponements by customers due to the economic situation, in the fiscal year 2002, HTP was in a position to further increase sales, among other things, by the acquisition of short-term orders. In 2002, the Company was able to realise an increase in sales by 7.6 % to EUR 70.5 million (2001: EUR 65.5 million).
HTP could further strengthen its good position in the automotive area - beside Audi, BMW, DaimlerChrysler, Jaguar, Porsche and VW, renowned suppliers as Intier, Johnson, Lear Corp. or Autoliv count among the company’s customers.

The EBIT for 2002, with minus EUR 1.07 million, remains below the previous year’s value (2001: EUR 0.76 million). The main reasons for this decline were high pre-serial expenses for projects of which serial production started only at the end of December 2002 respectively had to be postponed to the year 2003. Additionally, integration expenditures amounting to EUR 0.62 million - they served to eliminate duplications after the acquisition of the two Fohnsdorf companies as well as the use of synergies within the Group - had an impact on the result. Against this background, consolidated earnings amount to minus EUR 1.5 million compared to EUR 0.1 million in the previous year. Earnings per share come to minus EUR 0.29 (2001: EUR 0.02).

Despite the economic uncertainty, HTP’s management is confident of converting the very high level of orders booked at EUR 300 million into the corresponding revenues and expects a positive result for the year 2003.

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

end of announcement euro adhoc

Emittent: HTP High Tech Plastics AG
Fabriksgelände 1
AT-7201 Neudörfl
Tel: 02622/406-0
FAX: 02622/406-102
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