AvW Invest AG

euro adhoc: AvW INVEST AG
1st Half 2003 (E)

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The financial services and investment company AvW Invest AG, listed on the ATX Prime Market at the Vienna stock exchange, has presented its 2003 interim report according to IAS, in adherence to the balance sheet preparation proposals applicable to banks.

in EUR million                                    1st Half 2003    1st Half 2002
Operating profit                                              1.303                 0.979
Profit on ordinary activities before tax        0.940                 0.779
Net income over the period                              0.609                 0.501
Operating expenses                                          0.917                 0.647
Workforce                                                            114                      98

Market situation The anticipated financial improvement within the AvW Group led to a significant recovery within the financial services, investment business and real estate business. EBIT, result of ordinary activities and net profit for the period have increased significantly in comparison with the same period last year. In the financial services business, AvW realised earnings of EUR 1.863 million during the first half of 2003 (2002: EUR 1.511 million), which equates to a rise of 23%. At the end of the period under review, 103 financial partners (2002: 88) worked for AvW Invest AG. Since May, AvW has two well-known companies in Vienna under contract as financial partners, with the result that our clients now have access to financial advisers in every Austrian province. In the investment business, the AvW Group increased its existing investment holdings. Sella Austria Consult AG (25.17%) and BSS Cosmetic GmbH (25%) holdings were disposed of. Earnings from real estate business improved slightly.

Outlook Since May, the AvW financial services network has covered the whole of Austria, and we are now looking to expand the network in Germany. Investment purchases are being made when favourable opportunities arise. We also have our sights set on insurance and financial services companies in Austria and Germany and are planning further purchases. Real estate purchase negotiations are underway in relation to a large real estate project, and the purchase of the property in Carinthia should be completed during the 3rd quarter of 2003. Following the positive progress of business during the first six months of 2003, we anticipate a satisfactory development in operational business during the second half of the year.

The 1st half 2003 report is published on our homepage at www.avw.at.

end of announcement            euro adhoc 13.08.2003

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

Weitere Meldungen: AvW Invest AG

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