AvW Invest AG

euro adhoc: AvW INVEST AG
AvW Invest AG: Very good year 2003 (E)

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AvW Invest AG presents the final figures for the 2003 business year; accounts are rendered in accordance with the IAS guidelines. AvW - again - showed an excellent performance in the 2003 business year.

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In Mio. EUR                                                      2003                    2002
Operating income                                            4.556                  3.293
Operating result                                            2.670                  1.769
Result of ordinary activities                        2.259                  0.500
Net income for the year                                 1.523                  0.427
Net profit for the year                                 2.601                  1.397
Balance sheet total                                      18.428                 18.514
Equity capital                                              16.932                 15.823

Equity ratio                                                    91.9%                 83.3%

Number of employees                                            140                    107
Earnings per share in EUR                          EUR 0.51                  0.14
Dividend distribution                                TEUR  830                    319
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Financial services Income in the core business, financial services, increased to EUR 3,199 milion (2002: EUR 3,109 m). In the period under review, 130 financial partners (in 2002: 96) worked as consultants for AvW in Austria; the network will be further expanded in the 2004 business year.

Shares As far as shares in other enterprises are concerned, we increased our shares held in the Styrian hotbed of high-tech, Pankl Racing Systems AG. We entered into a strategic participation in the Cash Financial Services Group in order to launch our alternative investment product, the AvW Index®, on the Asian market. Revenue in this sector has increased to EUR 1,245 million (2002: EUR 0,069 m).

Real estate To strengthen our real estate business, we acquired further real property in Carinthia/Austria. With EUR 0.11 million (2002: UR 0.11 m) revenue remained constant in this line of business.

AvW was subjected to a credit review on an international level; in March 2004, rating agency Dun & Bradstreet confirmed, again, our excellent credit standing of AA1.

Outlook into the future For the current business year AvW is expecting further good results and growth in all three business segments.

AvW’s ordinary shares (AVWI.VI) are listed on the ATX prime index on the Vienna stock exchange under the specialist group Banks and on the ViDX, the AvW preference shares (AVWI_p.VI) are listed on the Auction Market.

end of announcement            euro adhoc 07.04.2004
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Further inquiry note: AvW INVEST AG Mag. Alexandra Anthofer http://www.avw.at

Branche: Financial & Business Services
ISIN:      AT0000930409
WKN:        093040
Index:    Prime.market
Börsen:  Wiener Börse AG / official dealing
              Baden-Württembergische Wertpapierbörse / free trade
              Frankfurter Wertpapierbörse / free trade



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