Renk Aktiengesellschaft

ots Ad hoc-Service: Renk AG RENK: peak year for new orders and earnings

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    Augsburg (ots Ad hoc-Service) - RENK: peak year for new orders and earnings

    1999/2000 was a financial year of success for the Augsburg- based RENK. The company secured new orders worth Euro 335 million, 11% more than 1998/99's total. The company's sales came to Euro 228 million (1998/99: Euro 226 million). Its earnings before taxes on income attained 1998/99's high value of Euro 24 million. RENK's net income went from Euro 10 million to Euro 17 million in 1999/2000. Its cash flow rose to Euro 26 million. RENK's equity ratio attained the 34% mark. RENK recorded in 1999/2000 a return on sales margin of 10.5% and a 29.9% rate of return on capital employed. These both rates are excellent figures within the Germany's manufacturers of industrial equipment and facilities.

    It will be proposed to the general assembly of shareholders that the dividend be increased from Euro 0.20 to Euro 1.00 per share. Including a tax credit, the total pay-out comes to Euro 1.17. RENK's executive board will also ask the assembly to provide it with the authorization to repurchase the company's own shares. Holding 76% of the company's share capital, MAN Aktiengesellschaft has declared that it does not intend to relinquish any of the shares it owns. In a further move, RENK plans on changing the term of its financial year from July 1 - June 30 to January 1 - December 31.

    RENK Aktiengesellschaft Der Vorstand

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