Quarterly Key Figures 2003

in CHF million	Q1/2003	Q2/2003	Q3/2003	Q4/2003	2003
Net sales	33.3	35.7	39.1	62.0	170.1
Operating income before restructuring expenses	(4.6)	(5.4)	(1.6)	12.2	0.5
Operating income (EBIT) after restructuring expenses	(6.5)	(5.5)	(1.7)	12.2	(1.4)
Net profit (loss)	(5.3)	(0.5)	(3.4)	10.9	1.8
Order intake	27.4	37.2	49.0	88.0	201.6
Order backlog	36,4	37.3	48.2	70.6	70.6
Book-to-Bill	0.82	1.04	1.25	1.42	1.19

 

Consolidated statements of income (unaudited)

in CHF 1000	3/03	6/03	9/03	12/03
Net Sales	33 279	69 006	108 108	170 119
Changes in inventory of work in progress and finished goods	704	(2 589)	(989)	3 454
Own goods capitalized and other operating income	1 443	5 746	6 647	7 080
Income from operating activities	35 426	72 163	113 766	180 653
Material costs	(13 717)	(28 990)	(46 242)	(71 569)
Gross income	21 709	43 173	67 524	109 084
Personnel expenses	(14 433)	(28 472)	(41 270)	(54 870)
Depreciation and amortization of property, plant, equipment and intangible assets	(3 874)	(7 886)	(11 890)	(16 836)
Other operating expenses	(8 011)	(16 835)	(26 001)	(36 828)
Operating income before restructuring expenses	(4 609)	(10 020)	(11 637)	550
Restructuring expenses	(1 882)	(1 947)	(1 988)	(1 980)
Operating income (EBIT) after restructuring expenses	(6 491)	(11 967)	(13 625)	(1 430)
Interest and other financial income	6 200	12 021	15 341	10 962
Interest and other financial expenses	(4 763)	(4 590)	(9 164)	(10 159)
Profit (loss) before income taxes	(5 054)	(4 536)	(7 448)	(627)
Income taxes	(232)	(1 255)	(1 709)	2 379
Consolidated net profit (loss)	(5 286)	(5 791)	(9 157)	1 752

 

Consolidated balance sheets (unaudited)

in CHF 1000	3/31/02	6/30/02	9/30/02	12/31/02
Assets
Non-current assets
Property, plant and equipment	79 329	82 666	81 396	78 298
Other financial investments and receivables	4 833	4 806	4 207	1 974
Intangible assets	28 696	28 220	26 487	27 315
Deferred tax assets *	5 669	4 407	4 483	8 152
Total non-current assets	118 527	120 099	116 573	115 739
Current assets
Inventories, work in progress	38 179	36 123	37 057	44 942
Trade receivables	68 604	57 669	69 157	66 672
Other receivables	6 185	3 896	5 093	6 153
Financial investments	20 959	22 069	21 097	23 298
Cash and cash equivalents	72 732	80 865	72 604	75 538
Prepaid expenses	4 209	3 446	2 875	1 101
Total current assets	210 868	204 068	207 883	217 704
Total assets	329 395	324 167	324 456	333 443
Liabilities and shareholders' equity
Shareholders' equity
Share capital	13 950	13 950	13 950	13 950
Capital reserves	176 507	176 296	175 467	175 988
Translation reserve	(11 436)	(6 947)	(8 082)	(5 902)
Retained earnings	65 009	64 504	61 138	72 047
Treasury shares	(5 184)	(5 175)	(5 759)	(4 425)
Total shareholders' equity	238 846	242 628	236 714	251 658
Liabilities
Long-term provisions	10 644	11 580	12 723	11 575
Long-term debt	29 669	30 782	30 001	26 394
Other non-current liabilities	3 197	108	0	0
Deferred tax liabilities **	5 989	6 006	5 823	5 183
Total non-current liabilities	49 499	48 476	48 547	43 167
Trade payables	8 734	8 122	10 513	10 242
Current debt	9 624	7 756	12 298	15 122
Current income taxes	4 695	4 877	3 936	3 076
Other current liabilities	47 958	9 260	9 597	8 143
Deferred income	3 039	3 048	2 851	2 029
Total current liabilities	41 050	33 063	39 195	38 612
Total liabilities	90 549	81 539	87 742	81 779
Total liabilities and shareholders' equity	329 395	324 167	324 456	333 437

* Deferred tax assets have been recorded as non-current assets
** Deferred tax liabilities have been recorded as non-current liabilities
 
The unaudited interim financial reporting for the nine months ended September 2003 has been prepared  in accordance with the accounting policies set out in the Financial Report for the year ended 31 December 2002.