|Ad-hoc-Announcement, May 15 2002
Excellent start into 2002
Again strong growth in sales and earnings
In spite of the difficult economic environment MEDION has been able to maintain outstanding growth rates in the first quarter of 2002. Compared to the previous year turnover was enhanced by 25 % from EUR 478.5 M to EUR 599.1 M. EBIT rose by 31 % from EUR 26.8 M to EUR 35.2 M. Pre-tax earnings improved from EUR 26.9 M to EUR 34.8 M, while earnings per share finally climbed by 30 % from EUR 0.33 to EUR 0.43.
Foreign sales 25.8 % of total sales
In the first quarter of 2002 MEDION was able to raise foreign sales by more than 91 % from EUR 80.7 M to EUR 154.5 M, which corresponds to 25.8 % of total sales (16.9 % in 2001). Among sales abroad, EUR 151.3 M were generated in Europe and EUR 3.2 M on the U.S.-market. In total, MEDION will generate more than 25 % of its sales abroad in fiscal year 2002.
In the first quarter investments amounted to EUR 2.8 M in total (versus EUR 0.4 M the year before), of which a large part (Euro 2.4 M) - as previously announced - referred to hardware and software expenditure within our IT-infrastructure expansion.
MEDION has emancipated from the unfavorable overall development and has raised sales as well as earnings significantly. Product-wise our growth is fueled by the trend towards digitalization and by the convergence of consumer electronics and multimedia. In regional terms we will continue to transfer our business model successfully onto foreign markets. As a full-service company we will further intensify our existing client relations. Moreover, we will also explore new distribution channels. Thus we are very optimistic to completely fulfil our projected sales and earnings forecasts also in the fourth year after our IPO.