DO & CO AG — Earnings Release 2003

Jun 18, 2003

News Details

Ad-hoc | 18 June 2003 08:54

DO & CO Rest. & Cater. english

Business year 2002/2003 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Business year 2002/2003 SALES: +3.0 %; EBIT: +2.6 % DESPITE UNFAVOURABLE BUSINESS ENVIRONMENT Today, DO & CO AG is announcing its results for the BY 02/03 (1 April 02 to 31 March 03) in accordance with IFRS (previously known as IAS). DO & CO recorded a 3.0 %, or EUR 2.76 mio, increase in sales to EUR 94.59 mio (PY: EUR 91.83 mio) and increased its EBIT following goodwill amortization by 2.6 %, or EUR 0.09 mio, from EUR 3.48 mio to EUR 3.57 mio. EBITDA declined by a moderate EUR 0.39 mio, or 3.7 %, to EUR 10.06 mio. The EBITDA margin remained at a high level of 10.6 % (PY: 11.4 %). The increase in EBIT and the stable trend for the EBIT margin (PY: 3.8 %) can be ascribed to a reduction in depreciation compared with the previous business year. AIRLINE CATERING – Sales were virtually stable at EUR 43.94 mio (PY: EUR 44.37 mio). This represents a slight decrease of EUR 0.43 mio, or 1.0 %. The decline would have been much larger without the new accounts the company acquired. The division improved EBITDA in the period under review by 1.9 % to EUR 3.80 mio (PY: EUR 3.73 mio). An increase in EBIT of EUR 0.38 mio to EUR 0.54 mio (PY: EUR 0.16 mio) raised the EBIT margin from 0.4 % to 1.2 %. INTERNATIONAL EVENT CATERING – Sales at International Event Catering fell by -6.2 % to EUR 29.98 mio (PY: EUR 31.96 mio). EBITDA fell by EUR 0.89 mio, or 16.3 %, to EUR 4.58 mio (PY: EUR 5.47 mio). Thanks to consistent price policy, DO & CO nevertheless stabilized its EBIT margin at 8.2 % (PY: 8.5 %) on an EBIT of EUR 2.45 mio (PY: EUR 2.73 mio) despite declining sales. RESTAURANTS & BARS – Sales in BY 02/03 totaled EUR 20.67 mio following the PY`s EUR 15.50 mio. This represents an increase of 33.4 %, or EUR 5.17 mio, which results mainly from the integration of Demel. The division increased EBITDA by EUR 0.43 mio, or 34.4 %, to EUR 1.68 mio (PY: EUR 1.25 mio). The EBIT fell by a slight EUR 0.01 mio, or 1.7 %, to EUR 0.58 mio (PY: EUR 0.59 mio). STOCK – The Management Board will propose to the General Meeting of Shareholders that a dividend of EUR 0.50 per share be distributed for the business year 02/03. Regarding the ownership structure it has to be mentioned, that since October 02 Raiffeisen-Holding Niederösterreich-Wien holds more than 25 % of the share capital in DO & CO. For further information: http://www.doco.com ; Isabel Eissler 0043 1 74000 191 end of ad-hoc-announcement (c)DGAP 18.06.2003 ——————————————————————————– WKN: 081880; ISIN: AT0000818802; Index: Listed: Amtlicher Handel in Wien 180854 Jun 03