DORMA reports rise of over 65% in earnings before taxes

A year of consolidation and restructuring

Düsseldorf/Ennepetal. World market leader in door closer technology, DORMA, succeeded in increasing earnings before taxes (EBT) for fiscal 2003/04 (June 30) by 65.3 % to €45.8 million (previous year: €27.7 million). This was announced in Düsseldorf by DORMA CEO Dr. Michael Schädlich at the October 4 press conference convened to present DORMA’s annual financial results. “In a year of consolidation, the company has stuck closely to its aims of reducing costs, restructuring its businesses and increasing efficiency,” he emphasised. Foreign currency influences impacted the net sales figure of the Group to the tune of €18.5 million, leaving a total figure that, at €648.7 million, was 2.2% below prior-year. Acquisitions in the period under review only had a minor influence amounting to a plus of €2.1 million. “This leaves us with a comparable sales volume of €665.1 million, which roughly corresponds to the €663.1 million achieved in the previous year,” explained Dr. Schädlich. Earnings before interest and income tax (EBIT) significantly boosted the return on sales figure, causing it to rise to 7.4% (previous year: 4.7%). Cash flow during the year under review increased by €6.8 million to €64.9 million.
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