Ad hoc: Thiel Logistik AG: Stable operating performance of the company in the first half year - Forecast for the year reduced
Sales of Thiel Logistik AG increased by 4.2 percent year-on-year to 883.5 million euros (first half year 2004: 848.1 million euros). At 10.3 million euros, the result before interest and income taxes (EBIT) was lower than the previous year's 13.1 million euros.
For the first six months of 2005 the Group posted a negative net result after minorities of -8.2 million euros (first half year 2004: - 0.5 million euros).
Against the background of the burdens from the Thiel Furniture business unit and the continuing weak earnings situation at Thiel Automotive, the forecast for the year of an EBIT of 36 million euros is not achievable. For this reason a revision has been made today. For fiscal year 2005, Thiel Logistik is now expecting an EBIT before restructuring charges and impairments in the target range of 25 to 30 million euros.