Readcrest Capital AG

Earnings Release • Feb 1, 2001

News Details

Ad-hoc | 1 February 2001 20:42

Ad hoc-Service: Dino entertainment AG english

Ad-hoc announcement precessed and sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Human resources issues, comprehensive risk provisions and restructuring measures depress Dino entertainment AG’s earnings Dino starts 2001 with a clean slate Stuttgart, February 01, 2001. Dino entertainment AG’s sales increased by 17% to around DM 70 million in 2000. One-off effects, such as personnel changes and extensive restructuring measures coupled with lower income from financial assets as well as extensive balance sheet risk provisions have depressed total earnings. All in all, these will result in an operating loss (EBT) of DM 15 million. A reduction in income from ordinary activities is only with an amount around DM 2 million responsible for the downturn in results. The continued weakness of the capital markets in the fourth quarter meant that Dino only earned around DM 3.5 million from financial assets, instead of the forecast almost DM 6 million. However, Dino continues to have a healthy cash flow, with cash and cash equivalents amounting to over DM 36 million as of the balance sheet date, December 31, 2000. Christian Neuber, Chairman of the Managing Board, believes that all the work has been done to ensure that the company can start 2001 with a clean slate. Dino will wholeheartedly commit itself to expanding its operating activities, launching new products (including popular characters such as Harry Potter, Monster Rancher and Käpt’n Blaubär) and establishing additional divisions (Internet Communities, Dino France, Merchandising, etc.). Dino AG will give a detailed presentation of its annual financial statements for 2000 and the company’s prospects for 2001 at its financials press conference on March 27 in Stuttgart. Dino entertainment AG Steffen Volkmer Presse-& PR/IR-Manager Rotebühlstrasse 87 70178 Stuttgart Tel.: ++49 711/94768-824 Fax: ++49 711/94768-830 e-mail: IR@DinoAG.de end of Ad hoc-announcement, (c) DGAP 01.02.2001 ———————————————————————– WKN:525040; Index: Listed:Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 012042 Feb 01