AvW Invest AG

euro adhoc: AvW INVEST AG
AvW Invest AG: 2004 interim results highly satisfactory

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The financial statements of AvW are prepared in accordance with IAS and structured in conformity with the Banking Act.

in EUR million                  1-9/2004         1-9/2003        Increase in %
Balance sheet total              20.627            18.232                        13%
Operating result                    3.047              1.943                        57%
Earnings before tax
(result on ordinary
activities)                            2.606              1.594                        63%
Net income for the year         1.714              1.048                        63%
Earnings per share in EUR        0.57                0.35                        63%
Workforce                                  160                 122

Business development Earnings in the financial services segment rose by 39% to EUR 3.272 million (2003: EUR 2.360 million), while the equity investment segment reported a 33% increase in earnings to EUR 1.002 million (2003: EUR 0.750 million). At EUR 0.100 million, earnings in the real estate segment remained at a stable level. In total, the operating income was boosted to EUR 4.374 million (2003: EUR 3.263 million). At EUR 1.319 million (2003: EUR 1.277 million), operating expenses remained at a stable level. Compared to 2003, the net income rose by 63%. Earnings per share came to EUR 0.57 (2003: EUR 0.35), a 63% increase from the same period of 2003. AvW Invest AG continued its growth course in the core business of financial services and the equity investment segment. The trading programme, which specialises in stocks listed in the DAX and the ATX Prime indices, led to a significant increase in earnings. With the Small Caps Pankl AG (AvW Invest 5%, AvW group 18%) and S&T AG (AvW Invest 10%) developed excellently. As of September 30, 2004, AvW Invest AG has 150 (2003: 122) financial partners under contract.

Outlook In the equity investment segment, AvW continues to focus on small and mid caps in Austria and Germany. The financial partners of AvW Invest AG offer advisory services to AvW clients throughout Austria. AvW is also searching for new financial partners in Germany.

AvWEURs ordinary shares (AVWI.VI) are listed on the ATX Prime Market of the Vienna Stock Exchange; AvWEURs preference shares (AVWI_p.VI) are listed on the Auctions Market.

The report for the first three quarters of 2004 is published at http://www.avw.at.

end of announcement                                euro adhoc 16.11.2004 08:30:55

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:  Frankfurter Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Wiener Börse AG / official dealing

Weitere Meldungen: AvW Invest AG

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