Heraeus Achieves Solid Revenues Development Despite Global Economic Downturn

14-Feb-2002

Hanau, February 12, 2002. According to preliminary figures, Heraeus Holding GmbH, the worldwide precious metals and technology group headquartered in Hanau, Germany, generated total revenues, including precious metals trading, of € 6.9 billion in financial year 2001. Compared to the very good prior year (€ 8.0 billion), revenues declined 15%; nonetheless, they were still 50% higher than the 1999 figure and considerably higher than those of all previous years.

The development of Group revenues was primarily influenced by a sharp price drop in the platinum group metals. Accordingly, precious metals trading revenues at € 4.9 billion lagged the prior year value of € 5.7 billion by 14%. The Group's product business, in which the precious metals are included, also declined 15 % from € 2.3 billion (2000) to € 2.0 billion. It should be noted, however, that the product business of the year 2000 still included the € 205 million in consolidated revenues of Heraeus Tenevo AG, which was spun off from the Heraeus Group as of January 1, 2001. Adjusted for this, the decline in revenues in relation to the prior year is reduced to 6% in the product business and to 12% for the Group as a whole.

Adjusted for all precious metals price effects, the "revenues excluding precious metals" in financial year 2001 exceeded the comparable prior year value by 2%. This growth was achieved despite the global economic downturn which increasingly made itself felt in the second half of 2002 in key markets of the Heraeus Group such as the semiconductor and steel industries.

As of December 31, 2001, the Group employed 9,181 persons worldwide. Adjusted for Heraeus Tenevo AG, this represents an approximately 3.4% reduction over the same date in 2000. In Germany, the number of employees rose by an annual average of 1.5 % from 4,418 to 4,484; outside of Germany, the workforce was reduced by 7.7% from 5,091 to 4,697 in the comparable time period.

The final Group figures will be announced at the Group's annual press conference on April 23, 2002, in Frankfurt am Main, Germany.

https://www.chemeurope.com/en/news/8387/heraeus-achieves-solid-revenues-development-despite-global-economic-downturn.html