Edel SE & Co. KGaA

Earnings Release • Mar 22, 2001

News Details

Ad-hoc | 22 March 2001 08:01

*vwd Ad-hoc-Service: edel music AG english

Ad hoc announcement transmitted by DGAP. The issuer has the sole responsibility of this announcement. ——————————————————————————– edel music AG achieved sales increase of 162.4 percent in 2000 Hamburg, 22. March 2001 – In 2000 edel music AG, Hamburg, Europe’s leading independent music group, achieved an increase in sales of 162.4 percent from 450.9 million DEM to 1,183.2 million DEM. This clear increase resulted from an internal growth of 38 percent and also from the consolidation of the 1999 acquisitions of the Play It Again Sam group, the Eagle group, UK, and Red Distribution, USA. edel’s operative business significantly improved compared to last year’s development. After elimination of non-recurring items of 27.1 million DEM the adjusted EBITDA was 63.5 million DEM and despite higher amortisation on goodwill in 2000 adjusted EBIT reached 29.6 million DEM. In addition, the company’s liquid assets of 85.1 million DEM on the reporting date 31. December 2000 as well as the cash-flow situation further emphasise this positive trend: cash-flow from operating activities achieved 41.3 million DEM. Integration of the acquired companies was consequently pursued and the creation of new structures within the group had first positive effects on the year 2000 result already. These effects will grow even stronger in the next years. For 2001 and 2002, the board of directors expects a more moderate increase in sales, a considerable improvement of the operating result and a significant increases of EBIT in double-digit million steps. Contact: Investor Relations Bärbel Tomas Tel.: 040 890 85 225 Fax: 040 890 85 310 www.investorrelations@edel.com end of ad hoc announcement, (c) DGAP 22.03.2001 ——————————————————————————– WKN: 564951; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Düsseldorf, Hamburg, München und Stuttgart 220801 Mär 01