DO & CO AG — Earnings Release 2002

Nov 21, 2002

News Details

Ad-hoc | 21 November 2002 08:50

DO & CO Rest. & Cater. english

Business results first half year 2002/2003 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Business results of the first half year 02/03 (April to September 02) Despite poor business climate – just a slight 2.8% decline in sales, EBITDA margin good at 13.1%, EBIT margin stable at 7.2% DO & CO reported sales of EUR 53.39 mio, which represents a slight decline of 2.8% on the same period of PY (EUR 54.91 mio). The EBIT decreased by EUR 0.40 mio (9.4%) in the first half of 02/03 to EUR 3.87 mio. Based on this figure, the group maintained the EBIT margin and the EBITDA margin at a high level, namely 7.2% (PY 7.8%) and 13.1% (PY 13.2%). AIRLINE CATERING – shows an expected decline of 8.0% to EUR 23.77 mio (PY EUR 25.85 mio). The airline industry is marked by substantial losses and reduced capacity. By comparison the relatively slight decline is largely attributable to new customers. Whereas EBITDA declined in the first half of 02/03 by EUR 0.19 mio, or 6.3%, to EUR 2.83 mio, the EBITDA margin actually edged upward from 11.7% to 11.9%. The EBIT amounted to EUR 1.18 mio (PY EUR 1.20 mio), a slight decline of EUR 0.02 mio, or 1.7%. INTERNATIONAL EVENT CATERING was shaped by restraint on the part of domestic consumers and a worldwide decrease in attendance at major events. German market showed a positive trend. Due to this, sales in this division amounted to EUR 19.86 mio, a figure 11.5% below the same period of PY (EUR 22.45 mio). EBITDA, at EUR 3.50 mio, was just a slight EUR 0.28 mio below the PY`s figure of EUR 3.78 mio. In spite of a decline of EBIT from EUR 2.80 mio to EUR 2.48 mio, the EBIT margin remained stable at 12.5% (PY 12.5%). RESTAURANTS & BARS – sales increased in the first half of 02/03 by 47.7% to EUR 9.76 mio (PY EUR 6.61 mio). Two factors were responsible for this improvement: continued high utilization of capacity at existing establishments and the integration of Demel in DO & CO group accounts as of 1 Jan 02. The EBITDA improved by EUR 0.22 mio, or 48.9%. EBIT fell by EUR 0.06 mio, or 22.2%, to EUR 0.21 mio because of the higher depreciation resulting from the acquisition of Demel. For further information: http://www.doco.com/investor.htm end of ad-hoc-announcement (c)DGAP 21.11.2002 ——————————————————————————– WKN: 081880; ISIN: AT0000818802; Index: Listed: Amtlicher Handel in Wien 210850 Nov 02