sia Abrasives posts substantial sales growth
sia Abrasives posted a 4.6% increase in sales for 2004 to CHF 252.1 million (2003: CHF 240.8 million), meeting the Group’s sales target for 2004. Operating and net income are also anticipated be in line with expectations.
Last year, the sia Group’s organic growth outpaced the market by a clear margin. On balance, sia Abrasives increased sales by 4.7% in 2004. Net sales for fiscal 2004 were CHF 252.1 mil-lion, up CHF 11.3 million. The positive and negative effects of foreign currency translation almost balanced out, resulting in a decline of CHF 0.4 million. The sia Group reached its target of 4% to 6% growth in sales.
Sales revenues were mainly boosted by high sales figures in Poland, the Czech Republic and Belarus. However, even stronger growth momentum than in Eastern Europe was seen in Asian countries. Above-average growth in this region was fuelled by the continued relocation of in-dustrial production from traditional industrialized countries to Asia, and especially China. Sales in the Latin American market were also higher than average.
In view of the sales generated, sia Abrasives anticipates a marked increase in operating and net income for 2004. As announced with the first half results on August 17, 2004, the company expects operating income before interest, taxes, depreciation and amortization (EBITDA) to reach 14% to 15% of total revenues, with an EBIT (operating income before interest and taxes) margin of 9% to 10%. The equity ratio is expected to be well above 50%.
For further information
Peter A. Schifferle, CEO and Executive Director
Gerhard Mahrle, CFO and Investor Relations
Phone: +41 52 724 45 75
Fax: +41 52 724 45 70
E-mail: ir@sia-abrasives.com
Internet: http://www.sia-abrasives.com/
® Correct nomenclature for sia Abrasives Holding AG
As there are other companies and organizations that use the same abbreviation as our company, we would be grateful if you could help to avoid any misunderstandings by always writing our name as follows: sia Abrasives (never just sia by itself). |
