DGAP-Adhoc: Turbon AG: 2008 Consolidated Financial

Turbon AG / Final Results

09.04.2009 

Release of a Adhoc News, transmitted by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Turbon AG 2008 Consolidated Financial Statement

Group sales in 2008 were Euro 98.3 million (previous year Euro 122.5
million). Turbon AG's planned sales of around Euro 100 million were
therefore almost reached despite a difficult overall economic situation.
Earnings before interest and taxes (EBIT) were Euro 4.3 million (previous
year Euro 1.3 million) and the result from ordinary operations was Euro 2.9
million (previous year Euro -1.0 million). The group's 2008 result after
tax is Euro 1.6 million (previous year Euro 0.1 million). Leading the
continuous balance sheet improvements were the significant reduction of
inventory of Euro 8.1 million and the subsequent complete elimination of
all third party bank debt. Net Financial Debt dropped by Euro 6.9 million
for the year to Euro 5.3 million and consists of a long term fixed interest
bearing bond (maturity date July, 2013) in the amount of Euro 9.9 million
less liquid assets of Euro 4.6 million. Overall profitability and liquidity
of Turbon AG have improved significantly despite the reduction in sales.
Based on the termination of the supply relationship with our largest
customer in the US announced in January 2009 we anticipate a further
reduction in sales to Euro 80 million. We fully expect this drop not to
negatively effect profitability versus the 2008 results.
With regard to our earnings and financial position and our goal to keep our
dividend payments at an attractive level, the Supervisory Board and
Management Board will discuss a dividend of Euro 0.25 at the next
Supervisory Board Meeting on April 21, 2009. Previous year's dividend
payment of Euro 0.50 was understood in equal parts as a subsequent payment
of dividend for 2006 as well as the dividend payment for 2007. In case of a
positive decision a recommendation of a dividend of Euro 0.25 per share
will be made to the annual shareholder meeting which will take place on
June 18, 2009.

Hattingen, April 9, 2009
Turbon AG
DGAP 09.04.2009 
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Language:     English
Issuer:       Turbon AG
              Ruhrdeich 10
              45525 Hattingen
              Deutschland
Phone:        +49 (0)2324 - 504-0
Fax:          +49 (0)2324 - 504-156
E-mail:       info@turbon.de
Internet:     www.turbon.de
ISIN:         DE0007504508
WKN:          750450
Listed:       Regulierter Markt in Frankfurt (General Standard),
              Düsseldorf; Freiverkehr in Berlin, Hamburg, München,
              Stuttgart
End of News                                     DGAP News-Service
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DGAP-Adhoc: Turbon AG: 2008 Consolidated Financial Statement
