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1st six months 2000: Carl Schenck continues growth trend

08/10/2000

• Sales increase by over 29% favored by good investment climate
• Success as systems supplier in final vehicle assembly
• Good sales and earnings development expected for 2000

The Carl Schenck Group, Darmstadt, leading supplier worldwide of megatronics systems and solutions for the automation of manufacturing processes has achieved an increase in sales of 28.7 % to EUR 238.1 m in the first six months of the current fiscal year and EBITDA of EUR 6.1 m. Incoming orders rose by 30.2 % to EUR 291.7 m. As at June 30, the Schenck Group, in which Dürr AG, the Stuttgart-based technology group holds a stake of over 93 %, employed about 3,938 people worldwide.

The Schenck corporate division Test and Automation Systems is handling a large-scale contract together with Dürr encompassing the planning and construction of a complete final vehicle assembly line. Its high productivity sets new standards worldwide in the automotive industry. After the successful integration of the companies acquired by Schenck in the USA and Canada last year, the corporate division has methodically extended its system capabilities in Test and Automation Systems and has opened up growth potentials in important core markets.

The development of sales and incoming orders has been equally positive in the two other Schenck corporate divisions, namely Process Systems and Balancing and Diagnostic Systems, who are also active in the non-automotive industry. Reasons for the pleasing development were, among others, successful sales with innovative mechatronics products, buoyant demand in important market areas, and also process optimizations aimed at a further reduction of manufacturing costs.

The prospects for the whole year are good. Against the backdrop of a continuingly favorable investment climate, Schenck is expecting to achieve sales of over EUR 500 m for the entire fiscal year 2000 and to maintain the operative result at the same level as in the previous year. This means that Schenck's earnings position has experienced a lasting stabilization. Last year's earnings had, to some extent, been influenced by extraordinary earnings.