FRoSTA closes a difficult year with a loss in sales

Submitted by Thomas Pröller, meat-n-more on , Published in Archive

Restructuring took effect in the fourth quarter

FRoSTA AG achieved sales of €2003 million in 262,5 (previous year = €284 million). The pre-tax result – before auditing by the auditors – amounts to € -7,9 million. Thanks to profits in the fourth quarter, the operating loss accumulated by the end of September 4 was reduced from €2003 million to €6,6 million. This loss is increased by the amount of €5,5 million due to restructuring expenses for the social plan and severance payments. 

Thanks to reduced liabilities, the equity ratio was kept at well over 20% despite the loss that occurred. The Management Board will not propose a dividend payment for the 2003 financial year.

The annual press conference for the 2003 financial year will take place on March 24, 2004 in Bremerhaven.

Source: Bremerhaven [ frosta ]

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