ENCAVIS AG

Earnings Release • Aug 15, 2002

News Details

Ad-hoc | 15 August 2002 08:09

Capital Stage AG english

Capital Stage AG reports a profit for the first half of the year Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– +++ Capital Stage AG reports a profit for the first half of the year +++ Financial services provider Capital Stage AG generated a consolidated net income after tax (HGB, unaudited) of +EUR 927 thousand in the first half of 2002 (prior year period: net loss of -EUR 5.971m). This interim profit is mainly due to the successful disposal of equity holdings from the company’s investment portfolio and the implementation of cost-containment measures. Consolidated revenues rose to EUR 9.483m (prior year period: EUR 3.128m). EBITDA also rose markedly to EUR 2.898m at the end of the first half of 2002 (prior year period: loss of -EUR 4.654m). DVFA earnings per share rose accordingly to a profit of EUR 0.04, from a loss of -EUR 0.24 (adjusted for the share split) in the same period last year. The value of the group’s investment portfolio was written down by EUR 1.016m in the first half of 2002, largely as a result of price losses on securities portfolios. Nonetheless, the Equity Investments division achieved EBIT of EUR 4.311m (prior year period: loss of -EUR 1.045m), more than offsetting the loss before interest and tax incurred by the Banking division of -EUR 2.634m (prior year period: loss of -EUR 4.970m). The Services division incurred a loss before interest and tax of -EUR 64 thousand in the first half of 2002. With revenues of EUR 7.082m, the Equity Investments division was the main revenue driver, accounting for 74.68 per cent of consolidated revenues in the first half of the year. Revenues in the Banking division came to EUR 2.070m, while the Services division posted revenues of EUR 331 thousand. The capital ratio rose to 43.20 per cent as at 30 June 2002 (31 March 2002: 25.04 per cent), partly as a result of the repayment of bank debt from the disposal of shares in portfolio companies. Under the US GAAP figures published for the first time in the half-year report 2002 (reconciliation from HGB to US GAAP), consolidated net income after tax for the first half year 2002 came to EUR 1.677m. The consolidated shareholders’ equity of the Capital Stage group totalled EUR 154.119m as at 30 June 2002 compared to EUR 22.811m under HGB accounting standards. end of ad-hoc-announcement (c)DGAP 15.08.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: The full half-year report as at 30 June 2002 can be downloaded as a pdf file from the internet at http://www.capitalstage.com. +++ Contact: Dorothee Timm, Head of IR, Capital Stage AG, Domstrasse 17, D-20095 Hamburg, tel. +49 (0) 40 37 85 62-620, fax +49 (0) 40 37 85 62-611, dorothee.timm@capitalstage.com, www.capitalstage.com ——————————————————————————– WKN: 609500; ISIN: DE0006095003; Index: SDax Listed: Geregelter Markt in Frankfurt (SMAX) und Hamburg; Freiverkehr in Berlin, Düsseldorf und Stuttgart 150809 Aug 02