Vivanco Gruppe AG

Earnings Release • May 27, 2002

News Details

Ad-hoc | 27 May 2002 07:30

Vivanco Gruppe AG english

Vivanco increases gross margin and reaches positive EBIT Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Vivanco increases gross margin and reaches positive EBIT Cost reductions become effective quicker than expected – Balanced result planned for 2002 The restructuring programme of Vivanco Gruppe AG, Ahrensburg, is showing significant signs of success: the company has already succeeded in increasing its gross margin by 3.7 percentage points. The decline in turnover to 40.8 (48.0) million euro was encumbering and reflected the extremely weak retail trade situation in comparison with the good Q1 2001. For the year as a whole, Vivanco still expects a turnover of around 170 million euro as the economy recovers in the 2nd half of the year and a balanced result due to a further improved gross margin and substantial cost reductions. In particular the staff reductions introduced at the end of 2001 will have a significant cost-reducing effect as from Q2. The most important performer in Q1 was the consumer electronics segment which was almost able to retain the previous year’s turnover level despite the market trend and accounted for almost 50 % of the total turnover at 18.8 (19.0) million euro. Vivanco profited in particular from the successful placement of new ranges for the growth areas DVD and Home Entertainment. The IT and access technology segments remained largely in the planning corridor with turnover decreasing by 17 % and 13 % respectively. The TC segment achieved only half of the previous year’s turnover for the corresponding period. This is due to the current weakness of the mobile telephone market, particularly in sales of mobile phones. Thanks to a tangible reduction in procurement prices and an improved product mix the gross yield margin improved significantly to 54.6 (50.9) %. Overall, however, the company reached a positive EBIT of 0.4 (3.2) million euro despite of the unexpectedly marked decline in turnover. The consolidated result was -0.9 (+0.9) million euro. Ahrensburg, 27 May 2002 end of ad-hoc-announcement (c)DGAP 27.05.2002 ——————————————————————————– WKN: 760290; ISIN: DE0007602906; Index: SDAX Listed: Amtlicher Handel in Frankfurt (SMAX); Freiverkehr in Berlin, Düsseldorf, Hamburg, München und Stuttgart 270730 Mai 02