euro adhoc: HTP High Tech Plastics AG / Quarterly or Semiannual Financial Statements / HTP High Tech Plastics AG - Third quarter earnings: (E)

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  • In the first three quarters of 2003 sales increased by about 7 % to EUR 60.4 million
  • Current year’s earnings impacted by restructuring measures
  • Order entry of EUR 340 million on a high level
  • Turnaround expected for first half of 2004

Neudörfl (Austria), November 19, 2003. HTP High Tech Plastics AG, the precise injection molding company increased sales by 7.1 % to EUR 60.4 million during the first nine months of the current fiscal year (corresponding period of the previous year: EUR 56.3 million). In the first three quarters, earnings before interest, tax, depreciation and amortisation improved significantly to EUR 5.4 million compared to EUR 4.6 million in the past year. High depreciations as a consequence of major capital expenditures during the last years however result in a negative EBIT of EUR 658 thousand in the first nine months (prev. year: -323,000).
Earnings were particularly impacted by modified conditions and necessary reorganisational measures in the Mold Service segment. In this segment, HTP decided to focus on technologically highest molds for its own production and third parties in order to escape the competition and the increasing pressure on margins of low cost producers. This concentration already reflects on the third quarter figures. Furthermore, modified commercial conditions of the Mold Service result in an actual sales decrease during the period under review. Altogether, in the first three quarters of the current fiscal year, sales of this segment decreased to EUR 14.7 million after EUR 18.7 million in the previous year’s period and thus led to negative earnings of minus EUR 572 thousand in this segment (prev. year: 42,000).
These changes in trading conditions and the resulting necessary measures in the Mold Service combined with a still cautious demand of the entire automotive industry will bring the HTP back to break-even probably only in the first half of next financial year.
However, the sales target of EUR 80 million for fiscal 2003 shall be achieved. Already in the first three quarters, the order volume amounted to EUR 72 million with which the total order entry adds up to EUR 340 million on September 30, 2003.

Please find the full version of HTP’s Nine Months Report under

Further inquiry note:
HTP High Tech Plastics AG
Isolde Kühhas
IR-Manager of HTP High Tech Plastics AG
Phone: ++43 (0) 2622/460105

Claudia Schumacher
Phone: ++49 (0)89/4892720
Tel: 02622/406-0
FAX: 02622/406-102

Emittent: HTP High Tech Plastics AG Fabriksgelände 1 AT-7201 Neudörfl Tel: 02622/406-0 FAX: 02622/406-102 Email: WWW: ISIN: AT0000764600 WKN: 928963 Indizes: Prime Standard, SMAX Börsen: official dealing Frankfurter Wertpapierbörse; free trade

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Berliner Wertpapierbörse, Bayerische Börse, Hamburger Wertpapierbörse, Börse Düsseldorf, Baden-Württembergische Wertpapierbörse
Branche: Synthetics & Plastics
Sprache: Englisch