|Ad-hoc Announcement, March 17, 2004
Thanks to MEDION's proven business model, despite the very tough economic climate the Company succeeded in boosting sales 11.3 % on the year from EUR 2,627m to EUR 2,924m.
Brisk pace of expansion outside Germany
In business year 2003, we booked EUR 1,008m or 34.5 % of sales outside Germany, up from a figure of 30.4 % one year earlier. In other words, sales outside Germany soared more than 26 % on the year. In Europe, we posted sales of EUR 922m (prior year: EUR 739m). Outside Europe, sales leaped over 45 % from EUR 59m to EUR 86m.
EPS rises to EUR 2.13
EBIT surged 17.7 % from EUR 152.9m in 2002 to EUR 179.9m in 2003. Earnings per share increased from EUR 1.89 to EUR 2.13. The Management Board will propose to the General Meeting that a dividend be disbursed for financial year 2003 of EUR 0.70 per share.
||Prime financial base |
Cash flow from operating activities rose from EUR 61.9m in 2002 to EUR 71.2m in 2003.
Given MEDION's international focus, our flexible product offerings, and the strengths of our purchasing and procurement network we have a sound basis even in difficult times. We are therefore confident that in 2004 MEDION will again post double-digit growth rates for both sales and earnings.