Telindus Confirms 2004 Outlook

Based on its Q3, Telindus confirms its earlier forecast of a positive operating result - excluding restructuring charges - for all of 2004

November 5, 2004

1 Min Read

HEVERLEE, Belgium -- Based on the progress of business in the third quarter of 2004, Telindus Group NV [Euronext Brussels:TEL] confirms the earlier forecast of a positive operating result - excluding restructuring charges - for the full year 2004.

The result is driven by a continuing growth in services turnover, a key item in Telindus' strategic plan, which is expected to grow by 10% for the full year 2004.

In product sales, Telindus is focussing on the quality of projects in order to bring affiliates with a higher percentage of product sales into line with the Group's strategy. Product fulfilment orders with limited margins are being carefully examined. Based on the final outcome of these projects, estimated turnover for the full year 2004 is approximately 530 Eur mio.

Ronald Everaert, CEO and President of Telindus: "We are focussing on the factors that will help us achieve the strategic objectives of our three-year strategic plan. Services continue to grow at strong levels; we are monitoring operational profitability thanks to the restructuring measures implemented in the first half of 2004 and are systematically rolling out our strategy throughout the Group."

Reaching the profitability level of 4 to 5% operating margin by 2006 remains the key objective for the management team.

Telindus Group NV

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