Freudenberg doubles profit in 2004, cautious, but optimistic for 2005

Weinheim, Germany--The Freudenberg Group generated sales of 4418 million Euro in the 2004 fiscal year, an increase of 14.3 percent on the previous year. Adjusted for currency effects and the effects of acquisitions and disinvestments, Group sales generated organic growth of 5 percent. Consolidated profit after taxes amounted to 171 million Euro (2003: 93 million Euro.

The company said sales in the first quarter of the current financial year rose by some 7 percent, but consolidated profit declined, chiefly as a result of a sharp rise in raw material prices. “We are cautiously optimistic as regards the current financial year,” said Dr. Peter Bettermann, Speaker of the Management Board of Freudenberg & Co. “The key incalculable parameters are further developments in raw material and energy prices, Dollar-Euro parity and the trend in personnel expenses, particularly in Germany.”

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Press release from Freudenberg