EUWAX Broker AG

euro adhoc: EUWAX AG
Earnings
EUWAX AG Rises its Forecast for the Earnings per Share 2003 to EUR 2.07 (E)

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The business development of EUWAX AG has continued to be very
successful in the 3rd quar-ter 2003. The income from ordinary
activities for the first three quarters was EUR 16,889k. The record
profit of the business year 2000 as a whole (EUR 15,121k) has
therefore already been exceeded after the first nine months of the
current business year.
The profit forecast for 2003 has clearly been surpassed in every
quarter of the year. Addition-ally, the originally forecasted net
income has already been realised after the first nine months of this
year. The Board of Managing Directors has therefore risen the profit
forecast for the whole year 2003. The new forecast is:
          - Income from Ordinary Activities: EUR 19,630k
              (+33% compared to the previous year)
          - Net Income: EUR 10,480 (+24%)
          - Earnings per Share (DVFA/SG): EUR 2.07 (+1%)

The, compared to the previous year, relatively moderate rise of earnings per share results from the significantly higher average of shares according to the DVFA/SG calculation scheme. The lower average in 2002 is due to the fact that the last year’s capital increase mainly oc-curred in the last quarter 2002, thus pushing the yearly average significantly under the level of December 31st 2002. The forecast for the average of shares according to the DVFA/SG calculation scheme for De-cember 31st 2003 is 5.06 million shares compared to 4.06 million shares the previous year (+25%).

Key figures at a glance:
~
                                                                            Q3        Q3  Change Q
1-3    Q 1-3      Change
                                 2003      2002                    2003      2002
Earnings (000s) EUR 11.831 12.174                 -2,8%    33.359 23.516
41,9%
Expenditures
(000s)                                          EUR                6.014 7.655  -21,4%
16.470 13.674  20,5%
Income from Ordinary Activities
(000s)              EUR  5.818  4.520                  28,7%    16.889 9.843
71,6%
Net Income
(000s)                                          EUR  3.031 2.622    15,6%  9.272
5.882  57,6%
Cash Flow
(000s)              EUR                 4.121                3.145    31,0%  10.627
6.557  62,0%
Earning per share
(DVFA/SG)         EUR                  0,60                 0,65    -7,6%  1,84  
1,56    17,9%
Return on Equity
Before Tax         %                    38,0                 33,5    13,4%  38,0  
33,5    13,4%
Subscribed Capital
(000s)                                          EUR                5.150 4.278  20,4%
5.150  4.278 20,4%
~


end of announcement            euro adhoc 13.10.2003
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Further inquiry note: Thomas Krotz (CFO) Tel.: +49 (0)711 222989 360 E-Mail: investor.relations@euwax-ag.de

Branche: Financial & Business Services
ISIN:      DE0005660104
WKN:        566010
Index:    
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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