FORIS AG

Legal Proceedings Report • Jul 27, 2001

News Details

Ad-hoc | 27 July 2001 16:41

FORIS AG

Ad-hoc-Mitteilung verarbeitet und übermittelt durch die DGAP. Für den Inhalt der Mitteilung ist der Emittent verantwortlich. ——————————————————————————– FORIS Submits Semi-Annual Report 1. The FORIS AG records a total of 954 new requests for litigation financing in the first half of 2001. This represents an increase of 48% in comparison to this period last year. As of June 30th, FORIS has financed 224 law suits with a total litigation value of DM 303.7 million (30. 06. 2000: DM 138 million) which amounts to a participation volume of DM 99.1 million. 2. 245 (166) shelf companies have been sold in the first half year. As a result of the current cyclical / market conditions, less companies – in particular AG’s (public limited companies) – are being newly incorporated. FORATIS AG has therefore adjusted its sales forecast to 620 companies for the current year (562). The FORATIS AG, which commenced its business as of April 1st will, based on the assumed sales volume, achieve a gross yield of DM 2.1 million in 2001 and will conclude the year with a positive operating result of DM 0.8 million. 3. It is anticipated that the income generated by the litigation financing area will in the second half of the year for the first time exceed the current costs of the core business area. The startup losses of the other subsidiaries, capital consumption allowances and valuation adjustments however will, in the current year based on a consolidated group turnover of DM 53.3 million (DM 43.3 million), result again in a net annual loss as opposed to earlier forecasts. This is anticipated to be in the amount of DM 3.7 million (DM 7.6 million). 4. The group’s consolidated sales volume as of June 30th amounted to a total of DM 17.9 million (DM 14.5 million FORIS AG). With a group balance-sheet total of DM 51.7 million (DM 35.1 million), the EBIT on the reporting date amounted to DM -6.5 million (DM -1.0 million) and therefore DM -1.13 per share (DM -0.29). 5. In the future, FORIS will concentrate on a select number of core products with strong earning power. This is accompanied by a strict reduction of expenditures in the entire group of companies, the sale of real property which is not required for business purposes and with respect to all subsidiaries, the setting of consistent goals of making positive contributions to the consolidated group earnings in the coming year at the latest. FORIS AG, Kurt-Schumacher-Str. 18-20, 53113 Bonn, Tel: (02 28) 9 57 50 22, Fax: (02 28) 9 57 50 27 Bonn@foris.de – http://www.foris.de Ende der Ad-hoc-Mitteilung (c) DGAP 27.07.2001 ——————————————————————————– WKN: 577580; Index: Notiert: Neuer Markt Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 271641 Jul 01