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[November 2004]
Sanitec Third Quarter Highlights
Sanitec Group's third quarter 2004 highlights, published on 26 November
2004, showed net sales at €209.9 million - finishing generally at the same
level as the prior year when eliminating the €16.2 million share of its
Vacuum Sewage Systems business segment which was divested early in the
second quarter of 2004.Pressured by higher energy costs and restructuring and integration
consulting costs, EBITDA was €30.9 million or 14.7% of net sales, 4% lower
than Q3 2003 when eliminating the €1.4 million share of the divested
business.Operating profit for Q3 2004 decreased to €11.1 million or 5.3% of net sales
compared to €12.2 million or 5.4% of net sales last year. €400,000 of the
decrease was attributable to the Vacuum Sewage Systems disposal. Sanitec
commented that this last quarter's results were strongly burdened by
integration, consulting and restructuring items of €4.3 million as well as
higher costs of manufacturing due to energy cost increases.Total capital expenditure in Q3 2004 was €5.6 million or 2.7% of net sales.
This represents a decrease of €4.8 million or 46.2% compared to Q3 2003.
ENDS