Vivanco Gruppe AG

Earnings Release • Jun 18, 2002

News Details

Ad-hoc | 18 June 2002 08:05

Vivanco Gruppe AG english

Vivanco reaffirms its goal of an operating profit in 2002 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– At the General Meeting of Shareholders in Ahrensburg on Tuesday the Board of Management of Vivanco Gruppe AG drew a positive balance of the consistent restructuring now almost completed: with the measures introduced the Board of Management already expects to achieve an operating profit before extraordinary expenditure in 2002. At the same time, the Company announced a new legal structure for the Vivanco Group to complete restructuring. The long-term costs savings for the dometsic German sites alone amount to 5.4 million euro for 2002 and even 9.5 million euro for 2003. The new legal structure of the Vivanco Group provides for the formation of two sub-groups: the Vivanco sub-group will embrace all the companies in Germany and abroad with the exception of Schwaiger. Numerous subsidiaries will be merged, resulting in a significantly leaner and clearer structure. The Schwaiger sub- group will continue to be run as an independent unit under the umbrella of the Vivanco Group. The new structure is scheduled for completion before the end of the 3rd quarter. For the whole of 2002 Vivanco expects sales of 173.0-164.0 (170.8) million euro with a considerably improved gross margin of 88.4-93.8 (86.9) million euro. The EBIT of the operational sub-groups will come to 7,5-11,6 (3.1) million euro; after restructuring an EBT of 6.0-1.2 (-8.1) million euro emerges. In total, the EBT in the Group will amount to 2.4- minus 1.8 (-13.2) million euro. Ahrensburg, 18 June 2002 end of ad-hoc-announcement (c)DGAP 18.06.2002 ——————————————————————————– WKN: 760290; ISIN: DE0007602906; Index: SDAX Listed: Amtlicher Handel in Frankfurt (SMAX); Freiverkehr in Berlin, Düsseldorf, Hamburg, München und Stuttgart 180805 Jun 02