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euro adhoc: HTI - High Tech Industries AG / Financial Figures/Balance Sheet / HTI DEVELOPS INTO A TECHNOLOGY GROUP, INCREASING SALES BY 33.4%

Geschrieben am 14-08-2008


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Disclosure announcement transmitted by euro adhoc. The issuer is responsible
for the content of this announcement.
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6-month report

13.08.2008

HTI DEVELOPS INTO A TECHNOLOGY GROUP, INCREASING SALES BY 33.4%

Sales increased 33.4% to TEUR 99,778 - EBITDA: +4.8% to TEUR 8,826 -
EBIT: +2.7% to TEUR 3,335 - successful acquisition of HTP Skinline,
Theysohn, Technoplast and Hitzinger - Restructuring of automotive
activities in the Plastics Processing segment due to economic
downturn - 2008 sales target: about EUR 200 million

St. Marien, August 14, 2008 - The first six months of the current
2008 business year of HTI High Tech Industries AG were characterized
by an intensive phase of strategic acquisitions. Furthermore, the
founding of the Romanian subsidiary for mold production is a further
step which lays the groundwork for dynamic organic growth, driving
the expansion of HTI Group to the Eastern European growth markets.

Peter Glatzmeier, Chairman of the Management Board of the HTI Group,
commented on the first half of 2008: "We are gratified at the record
level of sales and the successful conclusion of our acquisitions. On
the basis of these takeovers, we have achieved a future-oriented
positioning of the company. As an international technology group with
core markets in lightweight construction, engineering and energy
technology, we have created a solid basis for our future business
development. Moreover, we have reacted in a timely manner to the
global economic slowdown in the automobile industry, and already
initiated a project to restructure HTP Automotive in the first half
of 2008. The measures to be implemented call for transferring the
production of automotive components to our Eastern European plants in
Slovakia and Romania. At the same time, our production sites in
Austria and Germany will be redimensioned. This project is expected
to be completed by the end of 2008, in order to ensure a positive
effect on earnings in the 2009 business year. Additional earnings
potential will be exploited by the consolidation of production in the
Metals Processing segment at one site. This bundling of our
manufacturing capabilities will create an annual cost savings
potential of about EUR 4 million, which will be leveraged starting in
the 2009 business year. We expect sales of about EUR 200 million in
2008 and break-even earnings. In 2009, we will reap the benefits of
our efforts, with sales expected to reach EUR 270-300 million, with a
perceptible improvement in profitability."

In the first six months of the current business year, total sales
climbed by 33.4%, from TEUR 74,805 in the first half-year 2007 to
TEUR 99,778. Earnings before interest, tax, depreciation and
amortization (EBITDA) of the HTI Group improved by 4.8%, from TEUR
8,419 to TEUR 8,826. Earnings before interest and tax (EBIT) rose
2.7%, from TEUR 3,247 to TEUR 3,335. The earnings margin declined due
to the ongoing unfavorable currency exchange rate developments, the
one-off expenses related to the modernization and relocation of
Gruber & Kaja, and the integration of the acquired subsidiaries.

The Metals Processing segment succeeded in further increasing its
sales in the first half of the 2008 business year. Although the
transfer of the Gruber & Kaja machinery from the former production
site to the new facility in St. Marien was carried out and full
production capacity had not yet been achieved during the period under
review, sales of the Metals Processing segment reached TEUR 33,684 in
the first half-year 2008 (H1 2007: TEUR 28,887). This represents a
share of 34% of total Group sales. The segment´s results from
operating activities rose from TEUR 825 to TEUR 1,904, and the EBIT
margin improved from 2.9% to 5.7%.

Sales in the Plastics Processing segment during the first half of the
2008 business year rose to TEUR 40,519 (H1 2007: TEUR 38,343). The
above-mentioned economic slowdown in the automotive sector and the
accompanying package of measures had a negative impact on earnings in
this segment. In addition, the one-off investments and start-up costs
in connection with the new plant construction in Slovakia, the
founding of the Romanian subsidiary and the integration of HTP
Skinline also had a negative effect on this segment´s business
results. The segment´s EBITDA and EBIT both declined compared to the
first half of the previous year. In the first six months of 2008,
EBITDA amounted to TEUR 1,469 (H1 2007: TEUR 4,705), whereas EBIT was
TEUR -2,243 (H1 2007: TEUR 1,083). Accordingly, the EBIT margin of
the segment in the first half of 2008 was -5.5%, down from the
previous year´s level of 2.8%. A positive earnings development is
expected in 2009 following the implementation of the restructuring
measures and the resulting improvement in the company´s automotive
activities.

The Mechanical Engineering segment expanded at the fastest rate: with
sales of TEUR 25,706 (H1 2007: TEUR 7,576), this segment generated a
disproportionately high share of the results from operating
activities of the entire HTI Group. The EBIT of the Mechanical
Engineering segment, at TEUR 4,094 represents an EBIT margin of
15.9%. Due to organic and acquisition-related growth, the share of
total Group sales climbed form 10% to 26%. A further increase in the
share of Group sales generated by the Mechanical Engineering segment
will take place in the third quarter of 2008 due to the initial
consolidation of Technoplast and Hitzinger.

The Management Board believes prospects are good that the company
will achieve the target of about EUR 200 million in annual sales, and
earnings at the break-even point. The main cornerstones enabling HTI
to achieve these targets are the strengthening of the Mechanical
Engineering segment, the current series of measures being implemented
in the Plastics Processing segment as well as ongoing research and
development activities. For the 2009 business year, sales of EUR
270-300 million are expected. Assuming the effectiveness of all the
measures which have been initiated as well as a stable external
business environment, the Management Board anticipates a perceptible
improvement in profitability. Additional earnings potential will be
exploited on the basis of the recent acquisitions, the conclusion of
the redimensioning drive in the Plastics Processing segment and the
expansion of the company to the high-growth markets of Eastern
Europe.

Note: The two companies Gruber & Kaja and BBG Baugeräte were
initially consolidated as of February 1, 2007. For this reason, the
performance of the HTI Group in the first half of the 2008 business
year is not fully comparable to half-year 2007 results. A comparison
also only has limited validity, due to the fact that the companies
HTP Skinline and Theysohn were initially consolidated in the first
half of 2008, as of January 1, 2008 and April 1, 2008 respectively.
The initial consolidation of Technoplast and Hitzinger is planned for
September 30, 2008. The two firms will be assigned to the Mechanical
Engineering segment.


Key figures of the HTI Group (IFRS) H1 2008 H1 2007
Total sales TEUR 99.778 74.805
Plastics Processing segment TEUR 40.519 38.343
Metals Processing segment TEUR 33.684 28.887
Mechanical Engineering segment TEUR 25.706 7.576
EBITDA TEUR 8.826 8.419
EBIT TEUR 3.335 3.247
EBT TEUR 445 1.730
Consolidated net profit
for the period TEUR 314 1.647
EBITDA margin % 8,8 11,3
EBIT margin % 3,3 4,3
EBT margin % 0,4 2,3
Consolidated earnings margin % 0,3 2,2
Earnings per share EUR 0,02 0,13

Total assets TEUR 264.717 196.265
Equity TEUR 49.210 45.434
Equity ratio % 19 23
Gearing* % 219 115
Investments TEUR 14.174 8.716
Depreciation and amortization TEUR 5.491 5.172
Gross cash flow TEUR 4.357 6.965
Cash flow from operating
activities** TEUR -7.864 7.866

Average number of employees
for the period Number 1.423 1.063
Sales/employee TEUR 70 70


* Related to acquisitions and organic growth


** The cash flow from operating activities is primarily attributable
to changes in working capital as well as start-up investments for the
series production of new products in the Plastics Processing and
Metals Processing segments.


end of announcement euro adhoc
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ots Originaltext: HTP High Tech Plastics AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

HTI High Tech Industries AG, Mr. Peter Glatzmeier, Chairman of the Management
Board, Tel: +43 (0) 3862 304 - 8590, Fax: +43 (0) 3862 304 - 7598,
p.glatzmeier@hti-ag.at

HTI High Tech Industries AG, Ms. Nadja Goyer, Investor Relations, Tel: +43 (0)
3862 304 - 8562, Fax: +43 (0) 3862 304 - 7598, n.goyer@hti-ag.at

Branche: Holding companies
ISIN: AT0000764626
WKN: A0DQ9W
Index: WBI
Börsen: Wiener Börse AG / official market


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