DO & CO AG — Earnings Release 2003

Aug 28, 2003

News Details

Ad-hoc | 28 August 2003 08:50

DO & CO Rest. & Cater. english

First Quarter 2003-2004 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– First Quarter 2003-2004 Poor business climate also detrimental to DO & CO quarterly results Sales fell by EUR 2.49 million (10.2%); EBIT down by EUR 145,000 (26.9%) DO & CO wins major international tenders: Portugal- European Soccer Championships 2004 (VIP Hospitality Management) London- British Airways Short-Haul Business Class Europe DO & CO produced sales of EUR 22.02 million the first quarter (April to June 2003), down 10.2% on the same period last year (EUR 24.51 million). A close look at the individual divisions reveals a comparatively small drop in sales at Airline Catering of 3.1% to EUR 10.31 million (previous year: EUR 10.64 million). Sales at International Event Catering fell by EUR 1.60 million (-18.5%). At Restaurants & Bars, sales dropped from EUR 5.22 million to EUR 4.66 million. EBIT for the DO & CO group as a whole after amortization of goodwill therefore fell in the first quarter of 03/04 by EUR 0.14 million, or 26.9%, from EUR 0.52 million to EUR 0.38 million. With EBITDA at EUR 1.55 million (previous year: EUR 2.04 million), the EBITDA margin fell to 7.0% (previous year: 8.3%). AIRLINE CATERING – EBITDA fell in the first quarter of 03/04 by EUR 0.15 million, or 17.9%, to EUR 0.69 million. EBIT rose by EUR 0.01 million to EUR 0.05 million (previous year: EUR 0.04 million) because of the lower level of depreciation in the period under review. INTERNATIONAL EVENT CATERING – The decreased sales are reflected in the decline in EBITDA of EUR 0.33 million, or 35.1%, to EUR 0.61 million (previous year: EUR 0.94 million). EBIT fell by EUR 0.12 million, or 27.9%, to EUR 0.31 million (previous year: EUR 0.43 million). DO & CO maintained its EBIT margin at a respectable level of 4.4% (previous year: 5.0%) despite the decline. RESTAURANTS & BARS – EBITDA dropped slightly from EUR 0.26 million to EUR 0.25 million while EBIT fell by EUR 0.03 million to EUR 0.02 million owing to a small increase in depreciation. DO & CO Stock – The general shareholders’ meeting on 9 July 2003 approved the distribution of a dividend of EUR 0.50 per share. For detailed information please visit our homepage at http://www.doco.com and click “Investor Relations”. end of ad-hoc-announcement (c)DGAP 28.08.2003 ——————————————————————————– WKN: 081880; ISIN: AT0000818802; Index: Listed: Amtlicher Handel in Wien 280850 Aug 03