Press Release


TPG delivers solid set of results in 2002

Publish Date : 20 February 2003 at 10:49 CET -

TPGhas published it's 2002 Full Year & Fourth Quarter Results.

CEO Peter Bakker: "TPG has again been able to deliver an improved profit performance within our guidance range, notwithstanding the depressed economic climate which persisted throughout the year.

Please see the following highlights:

  • Growth of 5.4% in net income from continuing operations, in line with outlook
  • Net income of €599 million (2001: €585 million)
  • Operating cash flow of €1,032 million, an increase of 33% over 2001
  • Earnings from operations up 7% on revenue growth of 5%
  • Dividend of €0.40 per share, up 5.3% from the previous year

CEO Peter Bakker: "TPG has again been able to deliver an improved profit performance within our guidance range, notwithstanding the depressed economic climate which persisted throughout the year. Even more importantly, we have generated a significant increase in operating cash flow. 2003 is likely to be another challenging year and, including the impact of additional pension costs, a low single digit net income growth is expected. Excluding the additional pension costs, we expect net income from continuing operations to show medium to high single digit growth. Our longer term double digit growth target remains."


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Page publication date: 20 February 2003 at 10:49 CET