euro adhoc: EUWAX Broker AG
EUWAX Broker AG with a Significant Push of its Profit in the Second Quarter 2003 (E)

--------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------- Revenues for the three months ended 30 June 2003 ("Q2") have increased significantly. Euwax Broker AG raised its net income by a further 62% compared to the already highly successful first three months of 2002. The corporation has maintained the high level of earnings of the previous quarters throughout Q2. At the same time expenditures could be reduced again significantly resulting in a quarterly profit of EUR 6,132k before taxes (up by 162 percent compared to Q2 2002) and EUR 3,863k after taxes (up by 181 percent). Quarterly profits of this corporation were higher only in Q1 2000. Throughout the period of January to June 2003 income from ordinary activities increased to EUR 11,071k (up by 108 percent) and net income increased to EUR 6,241k (up by 91%). To give the main reasons for this highly satisfactory business record: ·Excellent development of contract notes and a new record in turnovers in Q2. ·This led to a surge in commission income. ·Decrease of expenditures by EUR 1,078k equalling 19 percent compared to the 1st quarter. This was mainly due to additions to security holdings, once more lowered administration costs and the fact that budgets for fixed costs were strictly adhered to. This outstanding business trend has improved our rentabilities as well. The operational margin was improved in the 2nd quarter 2003 for the third time in a row to 56.8 percent. This is the highest quarterly value within a period of nearly three years. On the other side the cost-income ratio de-creased to 43.3 percent, meaning that it stayed below our benchmark of 50 percent. Pre-tax return on equity climbed to 35.8 percent on 30 June 2003 which is the highest value for more than a year. After-tax return on equity cleared the 20-percent mark. Key figures at a glance: ~ Q2 Q2 Change Mid-Year Mid-Year Change 2003 2002 2003 2002 Earnings (000s)EUR 10,821 5,497 96.8% 21,527 11,342 89.8% Expenditures EUR 4,689 3,150 48.8% 10,456 6,019 73.7% (000s) Income from Ordinary Activities (000s) EUR 6,132 2,347 161.3% 11,071 5,323 108.0% Net Income EUR 3,863 1,377 180.5% 6,241 3,260 91.4% (000s) Cash Flow EUR 3,771 1,462 157.9% 6,507 3,412 90.7% Earnings per Share (DVFA/SG) EUR 0.76 0,38 102.5% 1.24 0.90 38.3% Return on Equity Before Tax % 35.8 32.1 11.4% 35.8 32.1 11.4% Subscribed Capital (000s) EUR 5,150 3,756 37.1% 5,150 3,756 37.1% ~ end of announcement euro adhoc 15.07.2003 --------------------------------------------------------------------- Further inquiry note: Thomas Krotz CFO Tel.: +49 (0)711 222989 360 E-Mail: Branche: Financial & Business Services ISIN: DE0005660104 WKN: 566010 Börsen: Bayerische Börse / official dealing Baden-Württembergische Wertpapierbörse / official dealing Berliner Wertpapierbörse / free trade Hamburger Wertpapierbörse / free trade Bremer Wertpapierbörse (BWB) / free trade Börse Düsseldorf / free trade Frankfurter Wertpapierbörse / free trade

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