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UPDATE 1-Buderus 2002 pre-tax falls 13 pct, no pick-up seen

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FRANKFURT, Jan 28 (Reuters) - German heating and appliance maker Buderus said on Tuesday its pre-tax profit fell close to 13 percent last year due partly to weak demand in its home market and said it saw no signs of a pick-up so far this year.

Buderus, long eyed as a potential takeover target by German car parts maker Robert Bosch, posted pre-tax profit of 162 million euros ($175 million), down from 186 million a year earlier. Sales fell four percent to 1.86 billion euros.

"In view of the substantial economic risks, a reliable sales and earnings forecast for 2003 can be made only after the first quarter," the company said in a statement.

Bosch has been talking to Buderus' main shareholder, building group Bilfinger Berger , about buying its stake in the firm, after making a surprise announcement earlier this month that it already held 13 percent.

Bilfinger's chief financial officer told Reuters two weeks ago the firm had had informal talks with Bosch over its 30 percent stake and said only a final agreement on price stood in the way of a successful takeover.

He said Bilfinger could not say no to an offer of around 35 euros per share, but added that Bosch had indicated it would only be prepared to pay the market price of around 25 euros.

Buderus is widely seen as a solid asset which would fit in well with Bosch's strategy of reducing its dependence on the cyclical automotive business, which currently accounts for around 70 percent of its sales.

Buderus shares were 1.22 percent lower at 24.20 euros by 1636 GMT, in line with the German mid-cap index .