EUWAX AG — Earnings Release 2005

Apr 15, 2005

News Details

Ad-hoc | 15 April 2005 10:04

EUWAX AG achieves quarterly net profit in line with full year forecast…

Ad hoc announcement §15 WpHG Q1 2005 results EUWAX AG achieves quarterly net profit in line with full year forecast… Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— EUWAX AG achieves quarterly net profit in line with full year forecast Q1 earnings per share in 2005 at 0.76 EUR (-36.2 % compared to q1 2004) EUWAX AG showed a net profit of 3.8 mln. EUR in the first quarter of 2005. This figures clearly fall short of last years basis (-36.5 %). But the numbers beat q4 2004 by 27.5 %. On an operating level the business performed in line with the companies full year forecast which was released in march. The target includes a net profit of 14.6 mln. EUR. In an ongoing ambitious market environment EUWAX AG was able to generate earnings of 11.4 mln. EUR. These numbers are around one third below the exceptionally strong q1 2004. However, the earnings show some improvement around 14 % relating to the second half of last year. Expenditures were reduced to 5.1 mln. EUR which is a decline of 18.3 % to q1 2004 and 10.2 % to the last quarter of last year. The resulting net profit was accompanied by a re-turn on equity of 23.6 % (new calculation method was introduced). Despite the ongoing abstinence of investors the company was able to generate an adequate level of return on its equity basis. The changes to last year in cash flow (-36.8 %) and income from ordinary activities (-38.9 %) were according to the described operating performance. Net writedowns in the time period of this statement where reported at 0.2 mln. EUR (-36,8 %). The trading result after direct costs also produced positive figures at 0.4 mln. EUR (after a full year loss at 0.7 mln. EUR in 2004). Key figures: q1 2004 q1 2005 Change Earnings mEUR 16.6 11.4 -31.1 % Expenditures mEUR 6.3 5.1 -18.3 % Income from ordinary activities mEUR 10.3 6.3 -38.9 % Net profit mEUR 6.0 3.8 -36.5 % Cash Flow mEUR 6.2 3.9 -36.8 % Earnings per share (DVFA/SG) EUR 1.19 0.76 -36.2 % Equity mEUR 59.1 67.0 13.3 % Return on equity after tax % 43.2 23.6 -45.3 % EUWAX Aktiengesellschaft, Stuttgart Thomas Krotz (CFO) Tel.: ++49 711 222989-360 eMail: investor.relations@euwax-ag.de EUWAX AG Schloßstraße 20 70174 Stuttgart Deutschland ISIN: DE0005660104 WKN: 566010 Listed: Amtlicher Markt in München und Stuttgart; Freiverkehr in Berlin- Bremen, Düsseldorf, Frankfurt und Hamburg; Xetra End of ad hoc announcement (c)DGAP 15.04.2005 151004 Apr 05