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LDM Technologies Announces Fiscal Year 2000 Financial Results

18 December 2000

LDM Technologies Announces Fiscal Year 2000 Financial Results

    AUBURN HILLS, Mich., Dec. 15 LDM Technologies, Inc.
reported net sales for the year ended September 24, 2000 of $496.4 million, a
decrease of $34.1 million or 6.5% from $530.5 million in 1999.  The decline
was mainly attributable to the Company's divestitures of its blowmolding and
consumer products operations during fiscal year 1999.  Mold sales also
declined due to the timing of product launches during fiscal 2000, but are
expected to increase with resuming launch activity in fiscal 2001.
    2000 operating profit decreased $1.5 million to $24.1 million.  The dollar
decrease is the result of a reduction in sales.  2000 operating profit
expressed as a percentage of net sales was 4.9% versus 4.8% in 1999.
    Interest expense for the year ended September 24, 2000 was $20.0 million
versus $21.1 million for the year ended September 26, 1999.  The decreased
interest was mainly due to principal repayments made throughout fiscal 2000.
    Net loss for 2000 was $0.4 million compared to a net loss in 1999 of $0.8
million.  The losses for 2000 and 1999 are attributable to continued poor
operating performance at the Company's German division as well as its
blowmolding joint venture.
    EBITDA for 2000 was $48.3 million compared to $47.8 million for 1999.  The
increase is due to operating improvements at the Company's North American
divisions.