(07/11/2003) SIOEN INDUSTRIES : RESULTS 3rd Quarter 2003

POSITIVE CASH FLOW DEVELOPMENT PRECEDES PROFITS DEVELOPMENT

Sioen Industries (000 Euro)	Q3/2002 YTD	Q3/2003 YTD	Evolution
Turnover	177.693,5	200.487,4	22.794,0
			12,83%
Gross margin	95.635,7	108.766,2	13.130,5
% of turnover	53,82%	54,25%	13,73%
Added value	70.037,8	78.502,0	8.464,2
% of turnover	39,41%	39,16%	12,09%
EBITDA (1)	32.547,4	39.472,4	6.925,1
% of turnover	18,32%	19,69%	21,28%
Amortizations and depreciations	-12.680,9	-19.538,4	-6.857,5
% of turnover	7,14%	9,75%	54,08%
Operating result	19.866,4	19.934,0	67,6
% of turnover	11,18%	9,94%	0,34%
Depreciation goodwill	-1.100,2	-2.391,1	-1.290,9
% of turnover	0,62%	1,19%	117,33%
EBIT (2)	18.766,2	17.541,9	-1.224,3
% of turnover	10,56%	8,75%	-6,52%
Financial result	-4.942,9	-7.272,2	-2.329,3
Result from general activities	13.823,3	10.270,7	-3.552,6
% of turnover	7,78%	5,12%	-25,70%
Exceptional result	0,8	161,5	160,7
Result before taxes	13.824,1	10.432,2	-3.391,9
% of turnover	7,78%	5,20%	-24,54%
Taxes	-5.436,1	-4.031,2	1.404,9
Net Result	8.388,0	6.401,0	-1.987,0
% of turnover	4,72%	3,19%	-23,69%
Net Result (part of the group)	7.773,9	6.015,3	-1.758,6
% of turnover	4,37%	3,00%	-22,62%
Cash flow (3)	22.169,1	28.331,5	6.162,4
% of turnover	12,48%	14,13%	27,80%
Capital and reserves	127.915	127.200
Net financial debts (4)	132.654	156.957
Net investments	27.241	5.745
Balance sheet total	330.231	354.469
Key figures per share
(in Euro per share) (5)
EBITDA	1,52154	1,84528
Result from general activities	0,64622	0,48014
Net result (part of the group)	0,36342	0,28121
Cash flow	1,03637	1,32446
Capital and reserves (per share)	5,97985	5,94638

(1) Earnings Before Taxes Interest Taxes Depreciation & Amortisation: Operating result + Depreciation of stocks, works in process and trade debtors + Provisions for liabilities and charges + Amortisation (2) Earnings Before Interests & Taxes : Operating result- Depreciation consolidation goodwill (3) Cash Flow: Net result + Depreciation of stocks, works in process and trade debtors + Provisions for liabilities and charges + Amortisation (4) Net financial debts : financial debts - investments and cash at hand and in bank (5) Key figures per share: calculated on a September year-to-date basis, ratios divided by the number of shares. End of September 2003, the turnover, realized by the Sioen group, amounts to E 200 million, i.e. a growth in turnover of 12.8 % compared to the same period last year, including the most recent acquisitions. Without taking these acquisitions into account, the turnover amounted to E 180.8 million compared to E 177.7 million over the same period last year. This is an autonomous growth of 1.75%. The Coating Division realized an autonomous growth of 2.55 % over the first 9 months of this year in comparison to the same period last year. The technical products in particular, such as open structure fabrics and transfer-coated fabrics, record excellent results over the last quarters. Open structure fabrics are used as reinforcement nets in roof covering materials, foundations, etc. Transfer-coated fabrics are flexible, breathing fabrics, with excellent resistance to tearing, used for mattress covers, protective clothing and airbags. The Confection Division has a seasonal character and has been influenced this year by the prolonged summer. Over the first 9 months of 2003, the turnover decreased by 2.78% in comparison to last year. The Processing Division continues its growth and realized a turnover of E 33.2 million at the end of September 2003, i.e. a growth of 4,55 %. Like the previous 2 quarters, this growth is realized by the manufacturers and distributors of fine chemicals. The gross margin over the first 9 months amounts to E 108.7 million or 54.25 % of turnover in comparison to 53.8 % over the same period last year. The two companies that were taken over most recently are both active on markets where the gross margin is traditionally lower than for the Sioen group, which has an impact on the whole. The operational cash flow or EBITDA over the first 9 months amounts to E 39.5 million or 19.7% of turnover and increases with E 6.9 million (or 21.3%) in comparison to last year. The EBIT margin (operating result - depreciation consolidation goodwill) over the first 9 months amounts to E 17.5 million, i.e. 8.75 % of turnover in comparison to E 18.7 million last year. This difference of E 1.2 million is completely explained by the increase of depreciation on consolidation goodwill. Financial charges amount to E 7.2 million over the first 9 months of the year. The major part, viz. E 6.6 million, consists of loans. The net result, part of the group, amounts to E 6 million in comparison to E 7.7 million over the same period last year. The extremely positive cash flow development over the first 9 months will not be reflected in the net profits this year, as the net profits will probably not be at the same level as last year. Company Profile of the Sioen Industries Group Sioen Industries is a fast-growing, integrated, industrial group that is active in the branches of technical textiles and specialized chemistry by way of three divisions. The Coating Division is the world leader in coating synthetic technical fabrics, supported by a vertically integrated group spinning mill and modern weaving mills. The Confection Division is the European leader in industrial protective clothing, outdoor and recreational clothing made of technical fabrics. The Processing Division is responsible for the production of pigmented pastes and granulates, the processing of coated fabrics and PVC foils, and for the production of filters for industrial applications. Since its establishment in 1960, the Sioen group has been characterised by a continuous growth. Today, Sioen Industries has more than 30 production and sales locations, employing more than 4500 staff members and realizing a total turnover of E 240 million. In 1996, Sioen Industries was introduced onto the Brussels Stock Exchange, quotes on the Brussels Euronext market, and also is part of the Next Prime segment. Financial Calendar Announcement result 2003 March 2004 For more information /Financial information /Investor relations, please contact: Geert Asselman CFO Sioen Industries n.v. Fabriekstraat 23 B-8850 Ardooie Tel. 051/74.09.80 Fax 051/74.09.79 E-mail : geert.asselman@sioen.be The financial service is guaranteed by the following bank institutions : KBC, Fortis, ING & Dexia. (C) Companynews