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Company watch
April 2002
Filtration Industry Analyst
Hz0 Innovation Inc, Canada
Ahlstrom Corp, Finland
Key Figures (C$ million) Second quarter ended 31 .12
Key Figures (e million)’ Year ended 31 .12 2001 Net Sales Of Which FiberComposites
2050.3 665.2
2057.5 445.2
47.6
71.5
(29.0)
22.8
18.6 35.9
94.3 29.8
Net Income/(Loss)
(6.1)
64.5
Capital Expenditures
194.5
485.5
No. of Employees
7671
9511
Operating Income before One-Time Items
2001
2000
Sales
1.2
1.3
Cost of Sales
0.7
0.7
Gross Profit
0.5
0.6
0.02
0.05
0.2
1.8
2000
R&D Expenses One-Time
Items
Net Loss Operating Income/(Loss) Of Which FiberComposites
’ Pro forma
Six months ended 31.12 2001
2000
1.8
1.3
Cost of Sales
1.1
0.7
Gross Profit
0.7
0.6
0.04
0.05
0.6
2.1
Sales
R&D Expenses Net Loss
~ I ~
Filtration Industry Analyst
(
April 2002
Donaldson Co Inc, USA
Hyflux Ltd, Singapore
~
Key Figures (US$ million) Second quarter ended 31 .l
Key Figures (S$ million) Year ended 31 .12
2002
2001
Net Sales
264.3
279.6
Cost of Sales
183.0
193.3
81.3
86.3
Gross Profit Operating
Expenses
53.0
58.8
Operating
Income
28.3
27.5
Net Earnings
20.8
18.1
Capital Expenditures
14.2
8.9
Six months ended 31 .l
Net Sales
2001
2000
Turnover By End-User Industry: Life Sciences Electronics Municipal By Geographical Market: Singapore China
27.2
20.8
8.6 7.5 4.8
10.1 8.7 0.0
11.2 12.4
10.9 8.6
Operating Profit before Tax By Geographical Market: Singapore China
9.5
8.6
3.5 4.8
4.7 3.6
7.4
6.4
28.2
12.4
7.0
7.5
2002
2001
552.7
569.5
Net Profit
Cost of Sales
383.1
397.2
Current Assets
Gross Profit
169.6
172.3
Current Liabilities
Operating
Expenses
112.2
116.9
Operating
Income
57.3
55.4
Net Earnings
40.5
34.9
Capital Expenditures
25.1
15.3
L
Filtration Industry Analyst
April 2002
Lydal .I Inc, USA
Osmonics Inc, USA
Key Figures (US$ million) Fourth quarter ended 31 .12
Key Figures (US$ million) Fourth quarter ended 31.12
2001
2000
Net Sales Of Which Filtration/Separation
52.9 15.6
57.2 17.5
Cost of Sales
37.4
41 .o
Gross Profit
15.4
16.1
Operating Income Of Which Filtration/Separation
4.1 1.9
4.6 2.4
income from Continuing Operations
2.4
3.0
Net Income
1.9
3.3
Year ended 31 .12 2001
2000
Net Sales Of Which Filtration/Separation
223.6 66.6
261.1 67.9
Cost of Sales
160.2
192.5
Gross Profit
63.3
68.6
Operating Income Of Which Filtration/Separation
15.7 7.3
19.0 10.2
Income/(Loss) Operations
2000
Net Sales Of Which: Filtration & Separations Process Water Household Water
54.0
50.5
20.1 24.0 9.9
19.6 21.7 9.2
Cost of Sales
36.4
36.3
Gross Profit Of Which: Filtration & Separations Process Water Household Water
17.7
14.1
7.4 6.5 3.8
6.1 5.5 2.5
R&D and Engineering
2.0
1.9
Income from Operations
2.5
1.2
Net Income
1.1
1.0
Year ended 31.12
7.5
(3.6)
Net Sales Of Which: Filtration & Separations Process Water Household Water
7.4
(2.4)
Cost of Sales
from Continuing
Net Income/(Loss)
2001
Gross Profit Of Which: Filtration & Separations Process Water Household Water R&D and Engineering Income from Operations Net Income
2001
2000
207.4
200.1
83.2 87.2 37.1
80.0 80.6 39.5
141.9
139.7
65.5
60.4
30.4 23.5 11.6
27.5 20.1 12.5
7.7
7.9
11.3
8.1
6.2
5.4
Filtration Industry Analyst
Hz0 Innovation Inc, Canada
Ahlstrom Corp, Finland
Key Figures (C$ million) Second quarter ended 31 .12
Key Figures (e million)’ Year ended 31 .12 2001 Net Sales Of Which FiberComposites
2050.3 665.2
2057.5 445.2
47.6
71.5
(29.0)
22.8
18.6 35.9
94.3 29.8
Net Income/(Loss)
(6.1)
64.5
Capital Expenditures
194.5
485.5
No. of Employees
7671
9511
Operating Income before One-Time Items
2001
2000
Sales
1.2
1.3
Cost of Sales
0.7
0.7
Gross Profit
0.5
0.6
0.02
0.05
0.2
1.8
2000
R&D Expenses One-Time
Items
Net Loss Operating Income/(Loss) Of Which FiberComposites
’ Pro forma
Six months ended 31.12 2001
2000
1.8
1.3
Cost of Sales
1.1
0.7
Gross Profit
0.7
0.6
0.04
0.05
0.6
2.1
Sales
R&D Expenses Net Loss
~ I ~
Filtration Industry Analyst
(
April 2002
Donaldson Co Inc, USA
Hyflux Ltd, Singapore
~
Key Figures (US$ million) Second quarter ended 31 .l
Key Figures (S$ million) Year ended 31 .12
2002
2001
Net Sales
264.3
279.6
Cost of Sales
183.0
193.3
81.3
86.3
Gross Profit Operating
Expenses
53.0
58.8
Operating
Income
28.3
27.5
Net Earnings
20.8
18.1
Capital Expenditures
14.2
8.9
Six months ended 31 .l
Net Sales
2001
2000
Turnover By End-User Industry: Life Sciences Electronics Municipal By Geographical Market: Singapore China
27.2
20.8
8.6 7.5 4.8
10.1 8.7 0.0
11.2 12.4
10.9 8.6
Operating Profit before Tax By Geographical Market: Singapore China
9.5
8.6
3.5 4.8
4.7 3.6
7.4
6.4
28.2
12.4
7.0
7.5
2002
2001
552.7
569.5
Net Profit
Cost of Sales
383.1
397.2
Current Assets
Gross Profit
169.6
172.3
Current Liabilities
Operating
Expenses
112.2
116.9
Operating
Income
57.3
55.4
Net Earnings
40.5
34.9
Capital Expenditures
25.1
15.3
L
Filtration Industry Analyst
April 2002
Lydal .I Inc, USA
Osmonics Inc, USA
Key Figures (US$ million) Fourth quarter ended 31 .12
Key Figures (US$ million) Fourth quarter ended 31.12
2001
2000
Net Sales Of Which Filtration/Separation
52.9 15.6
57.2 17.5
Cost of Sales
37.4
41 .o
Gross Profit
15.4
16.1
Operating Income Of Which Filtration/Separation
4.1 1.9
4.6 2.4
income from Continuing Operations
2.4
3.0
Net Income
1.9
3.3
Year ended 31 .12 2001
2000
Net Sales Of Which Filtration/Separation
223.6 66.6
261.1 67.9
Cost of Sales
160.2
192.5
Gross Profit
63.3
68.6
Operating Income Of Which Filtration/Separation
15.7 7.3
19.0 10.2
Income/(Loss) Operations
2000
Net Sales Of Which: Filtration & Separations Process Water Household Water
54.0
50.5
20.1 24.0 9.9
19.6 21.7 9.2
Cost of Sales
36.4
36.3
Gross Profit Of Which: Filtration & Separations Process Water Household Water
17.7
14.1
7.4 6.5 3.8
6.1 5.5 2.5
R&D and Engineering
2.0
1.9
Income from Operations
2.5
1.2
Net Income
1.1
1.0
Year ended 31.12
7.5
(3.6)
Net Sales Of Which: Filtration & Separations Process Water Household Water
7.4
(2.4)
Cost of Sales
from Continuing
Net Income/(Loss)
2001
Gross Profit Of Which: Filtration & Separations Process Water Household Water R&D and Engineering Income from Operations Net Income
2001
2000
207.4
200.1
83.2 87.2 37.1
80.0 80.6 39.5
141.9
139.7
65.5
60.4
30.4 23.5 11.6
27.5 20.1 12.5
7.7
7.9
11.3
8.1
6.2
5.4