DO & CO AG — Earnings Release 2003

Nov 20, 2003

News Details

Ad-hoc | 20 November 2003 08:50

DO & CO: First Half Year 2003/2004

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Grand opening of DO & CO London! First British Airways flight ex London with DO & CO gourmet menus takes off today! By January up to 200 flights a day! Business results for the first half year 2003/2004: SALES: -4.9%; EBITDA: -23.1%; EBIT: -22.7% DO & CO recorded sales in the first two quarters (April to September 2003) of EUR 50.77 million. This represents a decline of 4.9% against the same period of the previous year (EUR 53.39 million). In a closer look at the individual divisions, Airline Catering increased its sales by 3.7% to EUR 24.66 million. International Event Catering saw sales fall by EUR 3.38 million (-17.0%), attributable in the main to a decline in large-scale international sports events and to austerity measures taken especially by major companies. Restaurants & Bars, for its part, recorded a smaller decrease of EUR 0.13 million, or 1.3%. The EBIT of the DO & CO Group after amortization of goodwill changed in the first half of 03/04 by EUR 0.88 million, or 22.7%, from EUR 3.87 million to EUR 2.99 million. With an EBITDA of EUR 5.38 million (previous year: EUR 7.00 million), the EBITDA margin declined to 10.6% (previous year: 13.1%). AIRLINE CATERING – had an EBITDA margin of 11.2%, a stable figure as compared to the previous year (11.9%). EBIT was increased by 23.7% or EUR 0.28 million, to EUR 1.46 million (previous year: EUR 1.18 million). The EBIT margin improved from 5.0% last year to 5.9%. INTERNATIONAL EVENT CATERING – The EBITDA margin was maintained at a high level, at 12.8% (previous year: 17.6%), as was the EBIT margin, at 9.1% (previous year: 12.5%). EBITDA amounted to EUR 2.11 million, a figure EUR 1.39 million, or 39.7%, lower than the previous year (EUR 3.50 million). EBIT declined by EUR 0.98 million, or 39.5%, from EUR 2.48 million to EUR 1.50 million. RESTAURANTS & BARS – EBITDA dropped by EUR 0.16 million, or 23.9%, to EUR 0.51 million (previous year: EUR 0.67 million). EBIT fell from EUR 0.21 million to EUR 0.03 million. DO & CO STOCK – The price of DO & CO stock declined by 8.7% in the period from 1 January to 14 November 03. For detailed information please visit our homepage at http://www.doco.com and click “Investor Relations”. end of ad-hoc-announcement (c)DGAP 20.11.2003 ——————————————————————————– WKN: 081880; ISIN: AT0000818802; Index: Listed: Amtlicher Handel in Wien 200850 Nov 03