DO & CO AG — Earnings Release 2002

Aug 29, 2002

News Details

Ad-hoc | 29 August 2002 08:44

DO & CO Rest. & Cater. english

DO & CO First Quarter 2002/2003 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– DO & CO for 1 Q on target – despite unfavourable framework conditions Sales (EUR 24.51 mio), EBITDA margin (8.3 %) and EBIT margin (2.1 %) stable VIENNA, 29 Aug 02 – DO & CO today announced the results for the 1 Q 02/03 (April to June 02) in accordance with IAS. DO & CO reported sales of EUR 24.51 mio (PY: EUR 24.68 mio). This means a marginal decline by 0.7 %. The Airline Catering Division shows an expected decline in sales by 14.5 % to EUR 10.64 mio (PY: EUR 12.44 mio), mainly as a consequence of a generally poor growth in the aviation industry. The International Event Catering Division remained more or less stable at the PY’s level with sales of EUR 8.65 mio (-1.4 %). The Restaurants & Bars Division reported an increase in sales by EUR 1.75 mio or 50.4 %, mainly due to the inclusion of Demel. The EBIT of the DO & CO group was only slightly lower in 1 Q 02/03 namely EUR 0.02 mio or 3.7 %. With an EBITDA of EUR 2.04 mio DO & CO was able to keep the EBITDA margin stable at 8.3 %. Both the result of ordinary business with an increase by 5.8 % to EUR 0.55 mio and the consolidated result, which increased by 2.7 % to EUR 0.30 mio, show a positive trend. AIRLINE CATERING – In 1 Q 02/03, the EBITDA decreased by EUR 0.12 mio or 12.5 % to EUR 0.84 mio. The EBIT of EUR 0.04 mio (PY: EUR 0.05 mio) remained only slightly below the reference value. In July 02 DO & CO acquired Emirates and South African Airways ex Milan as new customers. INTERNATIONAL EVENT CATERING – The EBITDA increased by 2.2 % or EUR 0.02 mio to EUR 0.94 mio. With an EBIT of EUR 0.43 mio (PY: EUR 0.42 mio) DO & CO was able to increase the EBIT margin from 4.8 % in the PY to 5.0 % in the period under review. RESTAURANTS & BARS – Demel sales, which were not included in the reference period of the PY, are mainly responsible for the increase by EUR 1.75 mio. Whilst the EBITDA showed an increase by EUR 0.10 mio, the EBIT has dropped by EUR 0.02 mio or 28.6 % to EUR 0.05 mio as a result of increased depreciation for the acquisition of Demel. The General Meeting of Shareholders on 10 July 02 approved a distribution of profits of EUR 0.50 per share. For further information please see www.doco.com/Englisch/investor_eng.htm E-mail: investor.relations@doco.com end of ad-hoc-announcement (c)DGAP 29.08.2002 ——————————————————————————– WKN: 081880; ISIN: AT0000818802; Index: Listed: Amtlicher Handel in Wien 290844 Aug 02