SATISFACTORY 2002 ANNUAL RESULTS FOR NNE

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SATISFACTORY 2002 ANNUAL RESULTS FOR NNE
02 April 2003 - NNE A/S

NNE came well out of the financial year 2002. Net turnover amounted to 1,305 Danish kroner compared to 1,125 Danish kroner in 2001, representing a 16% growth. Pre-tax profit was DKK 91 million compared to DKK 54 million in 2001, an increase of 69%. The pre-tax profit margin increased from 4.8% to 7%. Net profit for the year was DKK 53 million compared to DKK 37 million in 2001.

In 2002, turnover generated by projects for clients outside Novo Nordisk A/S increased to DKK 100 million, which is a significant increase compared to 2001.

At the turn of the year the order portfolio was satisfactory, although at a lower level than in 2002. The competition to win projects in the market is mounting, and NNE's management expects a drop off in turnover and profit compared to 2002.

In addition to the financial statements, the Annual Review 2002 gives examples of some of NNE's many large and small projects in Denmark and abroad in 2002. About fast track building, when requested by clients. About fulfilling high professional ambitions, and maintaining a large commitment. About following clients all over the world. And about NNE as a good workplace, achieving fine results in employee satisfaction surveys and image polls.

http://nne.dk/

About: NNE A/S
With more than 80 years of experience, the engineering company NNE is a leading supplier of systems, consultancy and engineering services to the international pharmaceutical and biotechnological industry.

Our competencies span all technical disciplines applying to engineering, construction, validation, start-up and optimisation, and reconstruction of facilities for product development and production plants, pilot plants and laboratories within the pharmaceutical and biotechnological field.

Our unmistakable, clear client focus, combined with a flexible and integrated organisation where engineers, architects and pharmacists work closely together, puts us in a position to deliver customised solutions, ranging from stand-alone services to turnkey plants - quickly and safely.

NNE operates at an international level. We have worked on and completed a large number of projects both in Denmark and the rest of Scandinavia, and we have constructed biotechnological and pharmaceutical production facilities in USA, China, Japan, Brazil, and France.

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