At the annual stockholders’ meeting on May 11, 2005, the Executive Board of RENK AG, an MAN Group company, reviewed another successful fiscal year 2004 and previewed 2005. 

Net sales rose by €5 million to €272 million. Due to a delay i the placement of a megaorder at Vehicle Transmissions, order intake slipped by €60 million to €264 million and, accordingly, the order backlog at year-end 2004, to (a still respectable) €609 million. EBIT inched up from €20 million to €21 million, equivalent to an EBIT margin of 7.7 percent.

The stockholders' meeting resolved to distribute an unchanged cash dividend of €1.20 per share for 2004.

The RENK Group's headcount shrank from 1,544 to 1,493 in fiscal 2004 due to the spin-off of the Testing Rigs division.

RENK had a good start into fiscal 2005. Q1 saw a brisk order activity, order intake and sales improving on the year-earlier levels.

Despite teh strong euro and surging commocity prices, RENK expects to close the year with results at least as good as in 2004.

With the Supervisory Board’s approval, RENK AG’s Executive Board decided to repurchase treasury stock as from May 12, 2005, in line with the authorization renewed by the stockholders’ meeting.