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June 1, 1988

TRIUMPH-ADLER REDUCED LOSSES IN 1987, BUT TURNOVER SLUMPED

By CBR Staff Writer

Ing C Olivetti & Co’s Triumph-Adler electronic typewriter and printer unit reduced its consolidated losses last year – but turnover slumped too. Losses were equivalent to $157m, down from $218m in 1986, but turnover at the Nuremburg company crashed 29.2% to $570m, but the company is confident that it will begin to feel the benefits of its painful restructuring this year. Parent company operating losses were $78m, down from $141m last year, and $50m of exceptional charges to cover the cost of rationalising production made the net loss $128m. Unconsolidated turnover fell 31% to $326m, with exports down a daunting 46%, business in West Germany down 11%. Typewriters and office equipment accounted for 67% of the total, down from 71%; computers made up an unchanged 10%. Employment at the company in West Germany fell 32% to 4,576 people at the end of 1987 from 6,758 at the end of 1986.

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