Deutsche Effecten- und Wechsel- Beteiligungsges. AG

Earnings Release • May 21, 2001

News Details

Ad-hoc | 21 May 2001 07:55

Ad hoc-Service: DEWB AG english

Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Healthy balance sheet and sound cash flow position of DEWB create basis for further qualitative growth EBIT in the first quarter 2001 totals 30.8 million euros Investment volume exceeds 100 million euro mark In the first quarter just past DEWB AG (Deutsche Effecten- und Wechsel- Beteiligungsgesellschaft) generated sales of 37.4 mill. euros and a result (EBIT) of 30.8 mill. euros representing an increase of 5.8% compared with the first quarter in the previous year. The main contribution to sales and profits came from the sale of the quoted shares in CyBio AG as part of a private placement for the purpose of refinancing the new investments of DEWB at the beginning of 2001. DEWB invested almost 25 mill. euros in the first three months. As at the end of the first quarter the total investment volume exceeded the 100 mill. euro mark at 102.9 mill. euros. Healthy balance sheet structure creates basis for further qualitative growth. By comparison with the end of the 2000 business year, the equity capital quota increased from 45 to 63%. Liabilities were significantly reduced by 65% to 17.0 mill. Even after the proposed full distribution of the unappropriated earnings 2000 in May 2001, DEWB will still have a healthy balance sheet and cash flow situation. JENOPTIK AG is making a contribution to this end through a promised repayment of part of the dividend distributed in the sum of 19 mill. euros. Further expansion of DEWB as a symbol of quality in the VC business and on the capital market. Strengthened by its sound capital base DEWB is taking advantage of the current lower corporate valuations in order to acquire new, highly promising investments and is planning to invest around 50 million euros in new VC investments. In view of the project-like nature of the VC business, sales and results do not arise on a continuous basis, consequently we cannot assume the result achieved so far to produce a multi-fold increase for full 2001. Providing the capital market stabilizes during the course of the second and third quarters, DEWB’s objective for 2001 remains to achieve a further increase in the quarterly result posted so far. If sentiment on the capital market brightens significantly, DEWB expects to post a similar result to that of the previous year. Contact: Steffen Schneider, Investor Relations, Phone/Fax: ++49 3641 652290/2157 end of ad hoc announcement (c) DGAP 21.05.2001 ——————————————————————————– WKN: 804100; Index: Listed: Amtlicher Handel in Berlin und Frankfurt 210755 Mai 01