Vivanco Gruppe AG

Earnings Release • May 17, 2001

News Details

Ad-hoc | 17 May 2001 07:36

Ad hoc-Service: Vivanco Gruppe AG english

Ad hoc announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Vivanco successfully initiates turnaround. Positive result per share in the 1st quarter – result leaps compared to 4th quarter 2000 – turnover growth of 22.5 percent In the first three months the turnover of Vivanco Gruppe, one of the leading ITC accessory specialists in Germany and Europe, increased by 22.5 percent to 93.9 (1st quarter previous year: 76.7) million DM, thereby growing slightly more than targeted. Organic growth was around 15%. Compared to the 4th quarter 2000, in which a substantial loss was made, there was a significant leap in the result: the operating result (EBIT) rose to 7.4 (7.1) million DM, adjusted by the cost of reorganising Vivanco Gruppe of 1.1 (0.3) million DM. At 6.3 (6.7) million DM the non-adjusted EBIT was almost the same as that of the previous year. The Group’s net income for the year was 1.7 (2.9) million DM, thereby clearly surpassing the Company’s target. The IAS result per share amounted to 0.31 (0.49) DM. Vivanco has therefore succeeded in initiating a turnaround. The key growth area was the Information Technology (IT) accessories range, which far exceeded expectations with a plus of more than 80% (organic 25%), marking the Company’s first success in improving its market position through its own efforts. Growth of 15% in the Consumer Electronics segment was also clearly higher than targeted and higher than market growth. This segment will be further stimulated by IFA. Growth in the Telecommunications segment (+4%), on the other hand, was slowed down by the decline in market dynamism. With a product offensive in preparation for IFA and market recovery, a considerable increase in activity is to be expected for the second half of the year. The trend evident in the 1st quarter confirms the Company’s planning, which provides for turnover of 360.0 (329.2) million DM and, giving consideration to the cost of reorganisation amounting to 8.2 million DM, a positive result before tax of 4.1 (-14.8) million DM and net income for the year of 2.0 (-16.3) million DM. As a result of the decrease in consumer spending commonly to be observed in the summer months and the considerable burden to the result due to reorganisation, the Board of Management expects a scheduled loss in the following two months which will then be more than compensated for by the traditionally strong 4th quarter. The detailed three-month report can be viewed with immediate effect on the Internet at www.vivancoag.de under “Investor Relations”. Ahrensburg, 17 May 2001 end of ad hoc announcement (c) DGAP 17.05.2001 ——————————————————————————– WKN: 760290; Index: SDAX Listed: Amtlicher Handel in Frankfurt (SMAX); Freiverkehr in Berlin, Düsseldorf, Hamburg, München und Stuttgart 170736 Mai 01