AdCapital AG — Earnings Release 2001

Aug 23, 2001

News Details

Ad-hoc | 23 August 2001 20:30

AdCapital AG english

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Poor market conditions affect AdCapital’s six-month results – Increase in adjusted earnings from result of ordinary business activity in first six months – Value adjustments in investment portfolio lead to negative result in group and in AG Berlin, August 23, 2001 – Due to the change in value relations in the capital markets, as well as a deterioration in the general economic conditions for some subsidiary companies, AdCapital AG has reviewed its investment valuations. The necessary adjustments negatively impacted the group result by approximately EUR 9.4 million and the result in the separate financial statements for AdCapital AG by approximately EUR 21.0 million. Additionally, losses in security investments and write-downs of own shares totalling EUR 2.7 million were realised. On June 30, 2001, AdCapital therefore reported a total negative result of EUR 11.6 million for group and EUR 21.8 million for the company. The adjusted group result of ordinary activity for the first six months totalled EUR 1.3 million, compared with EUR – 1.1 million for the same period of the previous year. Group sales showed a comparable fall from EUR 139.9 million in the previous year to EUR 136.4 million. Since no fundamental change in the poor capital market climate is expected over the next six months, and since no large transactions are planned on the sales side, the net income for the year including the value adjustments is expected to be negative. The details of the mid-year report will be published on August 31, 2001. In case of queries please contact: AdCapital AG, Christiane Schroiff, Tel. 030-885751-20, cms@adcapital.de, http://www.adcapital.de end of ad-hoc-announcement (c)DGAP 23.08.2001 ——————————————————————————– WKN: 521450; Index: SDax Listed: Amtlicher Handel in Berlin, Fankfurt (SMAX) und Hannover; Freiverkehr in Bremen, Düsseldorf, Hamburg, München und Stuttgart 232030 Aug 01