LDM Technologies Announces Fiscal Year 2003 Financial Results

AUBURN HILLS, Mich., Dec. 11, 2003 -- LDM Technologies, Inc. reported net sales for the year ended September 28, 2003 of $425.0 million, an increase of $34.1 million or 8.7% from $390.9 million in 2002. The increase in net sales is due to the launch of new products from the Company's facility in Romulus, Michigan in March and August of 2002, offset by lower sales at other facilities due to reduced customer requirements in fiscal year 2003.

2003 operating profit was $28.7 million, an increase of $8.8 million from 2002 operating profit of $19.9 million. The improvement is the result of added sales at Romulus covering the facility's fixed costs.

Interest expense for the year ended September 28, 2003 was $14.7 million versus $15.8 million for the year ended September 29, 2002. The decreased interest was due to principal repayments made throughout fiscal 2003 as well as reductions in variable borrowing rates.

Net income for 2003 was $7.8 million compared $1.8 million in 2002. The improvement is the result of factors discussed above.

EBITDA for 2003 was $49.0 million compared to $37.9 million for 2002. EBITDA was affected in 2003 by the same factors described above.