CEAG AG presents first quarter results
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| 05/15/2002 |
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| CEAG AG presents first quarter results |
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Sales volume increased – Turnover and EBIT decreased
Launch of strategic reorganisation
Ostbevern/Bad Homburg v.d. Höhe, 15.05.2002
After the closing of the first quarter the SDax listed CEAG AG (WKN 620110) reports the following results:
During the first three months of the current business year the holding of the FRIWO Group was able to increase the worldwide sales volume by 7.8 percent to 28.3 million units compared to the corresponding period of 2001. Despite shrinking mobile telephone markets the sales volume of chargers and power supplies in this sector even increased by 16 percent.
The total turnover of the first quarter went down by 13 percent to 49.4 million EUR (2001: 56.9 million EUR). Whilst the telecommunication sector represents the major share of the turnover (74 percent), approximately 22 percent come from sectors like the medical and communication technology, mobile tools and industrial applications.
With –0.7 million EUR EBIT lays 1 million EUR above budget. At this stage the first one time costs amounting to 0.6 million EUR have been generated in the course
of the just started strategic reorganisation program.
After intensive self-assessment and market analyses the company has decided to develop a new strategic reorganisation. Meaning that the operational business will be split into two business units: i.e. FRIWO Mobile Power (FMP) concentrating on high volume markets of the mobile phone and information technology industry and FRIWO Power Solutions (FPS) serving highly fragmented markets like medical techniques, mobile tools, communication technology and industrial appliances.
The FPS business unit will also offer Electronic Manufacturing Services (EMS), thus manufacturing custom made, industrial appliances.
The various FRIWO facilities will gradually be adapted to the new structure in terms of production capacity and infrastructure. Estimated one time costs amounting to 10 million EUR will be needed for the restructuring process.
Prognoses regarding the development of the telecommunications market have proven little reliable lately. Nonetheless the CEAG Board expects 420 million mobile phones to be sold worldwide in the current year.
The measures from the restructuring project that have successfully been implemented as well as the new focus on the two strategic business units will make the operational business profitable again.
Contact:
Gudrun Richter
PR/IR
Sitz: Bad Homburg v.d. Höhe
Geschäftsadresse: von-Liebig-Straße 11, D-48346 Ostbevern
Tel.: 02532/81-158, Fax.: 02532/81-129
richter@friwo.de, Web: http//www.ceag-ag.com
Short portraits
CEAG AG, Germany
The SDax listed CEAG AG, holding of the FRIWO Group (headoffice: Bad Homburg v.d. Höhe/business office: Ostbevern/Germany) is the worldwide leading supplier of chargers and power supplies for mobile telephones with a market share of 24 percent. Moreover, individual chargers and power supplies are manufactured for the electronic industry, information technology, medical technology as well as for security technology. The group's turnover amounted to 213.8 million EUR in the financial year 2001. Worldwide more than 8,500 people were employed. With its modern R&D, manufacturing and sales facilities in Europe, America and Asia the CEAG AG/FRIWO Group demonstrates its presence on all important global markets. Main shareholder is DELTON AG with almost 77 percent of the capital stock.
DELTON AG
The DELTON AG, in Bad Homburg, bundles entrepreneurial investments of its sole shareholder Stefan Quandt. In the financial year 2000 the group achieved a sales volume of approximately 730 million EUR and employed worldwide more than 10,000 employees. As a strategic management holding DELTON leads apart of the CEAG AG (power supply) value creating entrepreneurial activities in the business sectors logistics, drugs, household products and fashion. Thus, the enterprise commits itself in clearly defined segments of future oriented growth markets, in which on global scale a market leading position is already achieved or targetted.
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