|MEDION AG, Essen (Germany)
Ad-hoc-Announcement, 13 November 2002
Growth continues - Bucking the trend
Sales growth by 28 %
In the first nine months of business year 2002 MEDION has been able to raise sales by more than 27.8 % from EUR 1,016.9 M to EUR 1,299.9 M. During the same period net profits improved from EUR 33.4 M to EUR 43.0 M. Earnings per share climbed by 29.0 % from EUR 0.69 to EUR 0.89.
With regard to the third quarter in particular sales went up by 30.9 % from EUR 198.1 M to EUR 259.4 M. Net quarterly earnings improved from EUR 7.1 M to EUR 9.0 M, which reflects a growth rate of 26.8 %.
Improved cash flow
Cash flow climbed by 31.4 % from EUR 34.7 M to
EUR 45.6 M.
Growth rates on foreign markets remain buoyant
In future our activities will continue to focus on expanding our marketing and service infrastructure in the foreign markets we are active in. Compared to the relevant period in the previous year foreign sales went up by more than 75 % in the first nine months of 2002 from EUR 220 M to EUR 387 M, which covers 29.8 % (2001: 21.6 %) of total sales. Within sales abroad, EUR 362 M were generated in Europe and EUR 25 M in the USA.
We still can state a high acceptance of our products among end-consumers. Further growth potential will - above all - stem from innovations in the areas of home entertainment, mobile computing and also digital photography or video technology respectively. Our expansion abroad is characterized by strong momentum in Europe and in the USA, too. Therefore we stick to our previously made statements to match our growth and earnings forecasts.