FORIS AG

Earnings Release • Apr 27, 2001

News Details

Ad-hoc | 27 April 2001 08:37

Ad hoc-Service: FORIS AG english

Ad hoc announcement transmitted by DGAP. The issuer has the sole responsibility of this announcement. ——————————————————————————– The FORIS AG reports a substantial increase in volume sales in the first quarter, and is the first company on the Neuer Markt to submit an audited quarterly balance sheet according to US-GAAP. 1. In the first quarter of 2001, the FORIS AG reports – with 541 requests for litigation financing – the largest number of requests yet in one quarter. Compared to the first quarter of the previous year, this represents an increase of 118%. 2. The average participation share of these cases is in the area of 571,000 DM per request. 3. As of March 31, the FORIS AG has financed a total of 223 legal proceedings with a total amount in dispute of 276.2 million DM, resulting in a participation share in the amount of 93.1 million DM. 4. In the first quarter, the FORIS AG has sold 118 shelf companies. This represents an increase of 84% compared to this period last year. 5. The turnover of the FORIS group of companies amounted to 9.1 million DM in this quarter. The FORIS AG alone has increased its turnover to 8.9 million DM as compared to 5.3 million DM in the previous year, this representing a 68% increase. With a balance sheet total of 56.1 million DM, the EBIT amounts, as planned, to -2.49 million DM. Nearly 30% of the negative EBIT is attributed to the subsidiary companies which are still in the start up phase. The net earnings per share amounts to -0.17 Euro. 6. FORIS anticipates a cumulative annual turnover in excess of 100 million DM, and in respect of further planned developments, positive cumulative results. Information: FORIS AG, Matterhornstraße 44, 14129 Berlin, Tel: (0 30) 80 48 64 0, Fax: (0 30) 80 48 64 24, e-mail: berlin@foris.de, www.foris.de end of ad hoc announcement, (c) DGAP 27.04.2001 ——————————————————————————– WKN: 577580; Index: Listed: Neuer Markt Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 270837 Apr 01