- Results forecast for 2002/03 are is achieved with an EBT in excess of 12 million EUR
- Forecast for 2003/04: Substantial leap in earnings up to an EBT of about 20 million EUR
- As announced, a high free cash flow of about 30 million EUR expected for 2003 / 04
Freudenstadt, 31 October 2003. Four weeks after the end of the financial year 2002/03 at 30th September, schlott gruppe confirms that it will definitely achieve the EBT margin range announced. schlott gruppe managed to achieve an EBT in excess of 12 million EUR in a market in which there has only been a partial revival. As announced, turnover will be about 620 million EUR. Figures are It is impossible to not compareable these figures with those of the previous financial year since it last year was a foreshortened financial year ending on the 30th September 2002.
As yet there is still no indication that there will be a recovery across the entire market in the current financial year 2003/04. Nevertheless, schlott gruppe is forecasting a very high increase in EBT up to about 20 million EUR. As a result of this, tThe Board is reckoning that despite given a good level of capacity utilisation, the EBT for the months from October to December will be less than that for the previous financial year as a result of the moderation of the current year’s sequential earnings cycle and a reduction in Other operating earningsonal revenues.
The very high level of EBT growth expected in the financial year 2003/04 is simply purely the result of the internal efforts which have been made in recent years. The investments of about 110 million EUR in the new and ultramodern site in the Nuremberg docklands, together with other measures designed to increase in systems efficiency throughout the entire group, will have a beneficial impact on profitability.
For the first time since the fire in 2000, the "old" schlott gruppe – that is, prior to the acquisition of broschek last year – will achieved its full printing capacity levels in intaglio printing. And it did does so with two machines less than in 2000. There has been a permanent drop in fixed costs as a result. With low variable costs the gross trading profit generated from the additional capacities will account fall for almost the entirety of the EBT increasethrough to the bottom line.
The consolidation strengthening of the schlott gruppe balance sheet will develop according to plan in the current financial year. Following the major investment in Nuremberg there will be a significant drop in the investment ratio spending in the coming years. Above and beyond this, the investment ratio spending will in future also be structurally lower and therefore permanently lower than it has been in the past – this will be the result of our strategy of relying on dedicated specialist sites. In the current financial year the schlott gruppe is, as announced, expecting a free cash flow after dividend of about 30 million EUR.
