Lower Order Intake at Sulzer Pumps

25.04.2003

Sulzer Pumps' order intake totaled CHF 240 million, 16 percent lower than in the same prior year period. This is largely attributable however to the significantly stronger Swiss franc compared to all other relevant currencies. After adjustment, order intake almost matched the prior year level (–2%), with good volume in the oil and gas and petrochemical industry sectors.

Numerous orders for new equipment were booked during March, particularly in Asian markets.

Consolidated order intake by the Sulzer Corporation for the first three months of 2003 totaled CHF 481 million nominal, 13 percent below the high prior-year level. After adjustment for currency effects and acquisitions, order intake by the core divisions matched the prior year level. Apart from the challenging situation in some markets, currency effects in particular again influenced order intake negatively. Prospects for the current year remain uncertain, but the rise in order volume for the last quarter 2002 has been continuing with a further improvement in the first quarter 2003.

The Sulzer divisional markets are still at a low activity level overall, but with wide regional differences. The weak situation in North America is contrasted by encouraging market developments in Asia.

Sulzer order intake has been steadily rising since the weak third quarter of 2002, but it is not yet clear whether this represents an ongoing trend. Although economic prospects have improved thanks to relaxation of the Near East situation to some extent, a new factor of uncertainty now arises in the form of the Sars lung affliction, particularly in the growth regions of Eastern Asia and China. Sulzer will continue to focus on operational improvements while beeing ready for an upswing.

Consolidated order intake by the Sulzer Corporation for the first six months will be announced in detail on July 17, 2003.

Order intake for the first quarter of 2003 (in million CHF)

20032002 +/-%
Jan-MarJan-Mar+/-%adj.¹);
Sulzer481550-13-1
Core Divisions473533-110
Sulzer Metco96116-17-12
Sulzer Turbomachinery Services515102
Sulzer Pumps240285-16-2
Sulzer Chemtech8681622
Venture Division (Sulzer Hexis)02--
Consolidation, Other815-47-

1) Adjusted for acquisitions, divestitures and currency effects

About Sulzer

The Sulzer Corporation (www.sulzer.com) is comprised of the four core divisions Sulzer Metco (coating technologies and services), Sulzer Turbomachinery Services, Sulzer Pumps (including services), Sulzer Chemtech (chemical process components and services) and the venture division Sulzer Hexis (fuel cell systems for residential needs). Consolidated sales for 2002 totaled CHF 1946 million. The Sulzer Corporation employs more than 9000 people worldwide.

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