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Roechling Defies Economic Slowdown

Mannheim, August 27th, 2003.  Roechling Group with its three divisions in the business lines of Engineered Plastics, Automotive Engineering and Electronics was able to hold its own despite the economic slowdown.

This is evidenced by the release of the company´s semi-annual results. Due to the delicate situation in the electronics market place, the turnover of 743 Mil. EURO (previous year: 768 Mil. EURO) is slightly lower. However, it does not have a negative impact on the final results.  Consequential cost adjustments and strict retrenchment policies even enabled the Group to somewhat enhance the 22 Mil. EURO EBT (previous year: 21 Mil.  EURO). By increasing the cash-flow considerably, net indebtedness was reduced to 136 Mil. EURO (previous year: 259 Mil. EURO).

With 753 Mil. EURO in new orders, a good result was achieved (previous year: 732 Mil. EURO).  Provided there is not another economic slump, the management of the Röchling-Group expects yet another increase in profit and a continuing decrease in indebtedness for the remainder of this business year.

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