DO & CO AG — Earnings Release 2005

Aug 25, 2005

News Details

Ad-hoc | 25 August 2005 08:44

DO & CO Restaurants & Catering AG

Ad hoc announcement DO & CO: First Quarter 2005/2006 DO & CO Restaurants & Catering AG Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— SALES: – 21.1 %to EUR 31.25 million EBIT INCREASE: + 19.6 %to EUR 611,000 INCREASED PROFITS – IMPROVED MARGINS on lower sales due to absence of EURO 2004 DO & CO Restaurants & Catering AG announces its results for the first quarter of 2005/2006 (1 April 2005 to 30 June 2005) in accordance with IFRS. This quarter DO & CO generated sales of EUR 31.25 million, a figure 21.1 % lower than the first quarter figure the previous year. This reduction in the period under review can be traced to a single catering contract of International Event Catering: the European Soccer Championship in 2004. Its absence in the last quarter cut sales in this division by EUR 10.71 million or 58.4 %, from EUR 18.34 million to EUR 7.63 million. Airline Catering saw sales stabilize at EUR 15.72 million following EUR 15.76 million in the previous year. Restaurants & Bars enjoyed strong business growth, with sales rising from EUR 5.49 million (+43.9 %) to EUR 7.90 million. This increase is largely attributable to the success of business at the LUFTHANSA First Class Lounges at Frankfurt Airport and at DO & CO Platinum in Vienna. The consolidated EBIT for the DO & CO Group after goodwill amortization in the first quarter of 2005/2006 rose by 19.6 %, from EUR 0.51 million to EUR 0.61 million. EBITDA amounted to EUR 1.77 million (previous year: EUR 1.84 million) for an EBITDA margin of 5.7 % (previous year: 4.6 %). AIRLINE CATERING – EBITDA for Airline Catering stabilized at EUR 0.83 million (previous year: EUR 0.83 million) while EBIT increased from EUR 0.11 million to EUR 0.15 million. INTERNATIONAL EVENT CATERING – The lower sales were reflected in lower EBITDA, which fell by EUR 0.06 million or 8.2 %, to EUR 0.67 million (previous year: EUR 0.73 million). EBIT increased by EUR 0.06 million, or 16.2 %, to EUR 0.43 million (previous year: EUR 0.37 million). The EBIT margin more than doubled, rising from 2.0 % to 5.6 %. RESTAURANTS & BARS – EBITDA dropped by a marginal EUR 0.01 million to EUR 0.27 million (previous year: EUR 0.28 million) while EBIT remained stable at EUR 0.03 million owing to slightly reduced depreciation. STOCK – The shareholders’ meeting on 7 July 2005 decided to distribute a dividend of EUR 0.50 per share. Further information: http://www.doco.com/investor.htm DO & CO Restaurants & Catering AG Stephansplatz 12 1010 Wien Austria ISIN: AT0000818802 WKN: 081880 Listed: Amtlicher Handel in Wien End of ad hoc announcement (c)DGAP 25.08.2005 250844 Aug 05