Hungary Rába revises 2004 targets, sees axle unit growing

In the following you find the details of Rába's revised full-year and Q4 targets.

The company's axle unit is to exceed targets set out early this year, while its parts and vehicle business are expected to perform worse than forecast.

With regards to operating profit, the axle unit will not achieve breakeven, while the vehicle business should have a positive result. Due to lost revenues, the parts segment will be profitable only at operating level.

Group
- Sales
Target (11 February): HUF 41-42 billion
Revised full-year target: HUF 39-39.5 billion
Revised Q4 target: HUF 12.3-12.8 billion
The full-year net profit target remained at around breakeven with hopes for a minor profit.

Divisions
- Axle
Full-year target (February): 19% yr/yr growth
Revised full-year target: 35% yr/yr growth to USD 117 million.

- Vehicle
Full-year target (February): over HUF 7 billion, to become a strategic unit
Revised full-year target: HUF 5.9 billion.

- Parts
Full-year target (February): 26% yr/yr growth
Revised full-year target: 8% yr/yr growth to HUF 10.8 billion.

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