Gerresheimer AG

ots Ad hoc-Service: Gerresheimer Glas AG 1999 Financial Year (1.12.1998 - 30.11.1999)

The sender is solely responsible for the contents of this announcement. ----------------------------------------------------- Düsseldorf (ots Ad hoc-Service) - The consolidated Group financial statements were prepared in accordance with the International Accounting Standards (IAS) for the first time. The prior-year results were also restated according to IAS.* - Earnings rose as the result of the special impact of the sale of standard container glass operations. - Group earnings before tax increased to DM 79.1 m (prior year: DM 44.9 m). - Net earnings for the Group improved by DM 31.0 m to DM 46.5 m. - The operating return on sales for the businesses continued was slightly above the prior year at 8.4%. - Capital expenditure was at the high level of DM 194 m. ----------------------------- *1998 figures based on German accepted accounting principles (HGB): Group earnings before tax DM 75.4 m, Group net earnings DM 44.4 m. Following the sale of the standard container glass business for beverages and foods, the business operations of the Gerresheimer Group are focussed on the segments of pharmaceuticals, laboratory-ware, cosmetics and miniature glass. For 1999 the Gerresheimer Group achieved sales of DM 1,471 m (prior year: DM 1,636 m). This includes sales of DM 407 m up to 31 July 1999 by the standard container glass companies which were sold. Sales by the continuing business totalled DM 1,064 m, slightly above the prior year level. For the continuing business, an operating return on sales of 8.4% before restructuring expenses was achieved. Pre-tax earnings of DM 24.0 m were below the prior year level of DM 29.8 m because of higher restructuring expenses of DM 10 m. The holding company Gerresheimer Glas AG achieved net earnings of DM 37.0 m (prior year: DM 40.5 m). The Executive Board and Supervisory Board propose to the Annual Shareholders Meeting that a dividend of Euro 0.51 (DM 0.9975) per share or 20% is distributed (equivalent to the prior year dividend). Key Figures - Consolidated Group Financial Statements -based on International Accounting Standards (IAS)- financial year 1999 1998 in DM m Sales Group sales 1471 1636 thereof: Tubing and Specialty Glass Division 645 623 Container Glass Pharma/Cosmetics/ Miniature Glass 373 396 Others business units 46 22 ---------------- Continuing business 1064 1041 Standard Container Glass (sold as per 31 July 1999) 407 595 Continuing business Operational earnings before restructuring expenses and goodwill amortisation 89.1 85.6 as % of sales 8.4% 8.2% Earnings before interest and taxes (EBIT) 62.5 67.2 as % of sales (operating return on sales) 5.9% 6.5% Earnings before taxes / Continuing business 24.0 29.8 Earnings contribution Standard Container Glass 55.1 15.1 Group earnings before tax 79.1 44.9 Group net earnings 46.5 15.5 Cash flow 173 159 Capital expenditure 194 187 thereof: on tangible fixed assets 87 140 on financial assets/acquisitions 107 47 Earnings per share (DM) 1.97 0.38 Employees (year end) 6,100 8,191 The Executive Board End ----------------------------------------------------- Internet: http://recherche.newsaktuell.de Original-Content von: Gerresheimer AG, übermittelt durch news aktuell

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