Ad hoc: Thiel Logistik seeking further growth in 2003
Grevenmacher (Luxembourg) - Thiel Logistik AG, Grevenmacher (Luxembourg), is looking to increase sales to approx. 1.8 billion euros and operating income to approx. 40 million euros in fiscal year 2003, preliminary figures show.
The company intends to lift earnings before interest, income tax, depreciation and amortization (Ebitda) to approx. 80 million euros in 2003. The budget that was presented already includes the integration costs for Microlog Logistics AG, of which a majority interest was recently acquired. Growth at the supplier of end-to-end, integrated logistics solutions and business services will thus run counter to the overall trend. The performance of the general economy, which is likely to further deteriorate in 2003, stands in the way of a more vigorous increase in sales and earnings. This negative development has also hit Thiel's target customer group hard. As a result, the company will not be expecting a decline in the number of orders but rather in the volume of orders. The decline in the volume of orders from existing customers will be offset by small and medium-sized orders from new customers.