05.03.2004 – 07:03

ESCADA AG

euro adhoc: ESCADA AG
Quarterly or Semiannual Financial Statements / ESCADA shows profit in first quarter of 2003/2004 (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.

Aschheim/Munich, March 5, 2004 - The ESCADA Group reported a profit
for the first quarter of fiscal 2003/2004. The luxury women’s fashion
maker increased its consolidated earnings before interest, taxes,
depreciation and amortization (EBITDA) to EUR 14.0 million, from the
EUR 7.1 million of the first quarter of 2002/2003. The profit on the
quarter after deductions for taxes and minority interests, was EUR
3.1 million, as against the comparable period’s loss of EUR 2.2
million. Consolidated sales amounted to EUR 148.1 million compared to
EUR 156.5 million in the previous year (- 5.4 %). Eliminating the
effects of foreign exchange rates, sales were up 0.4 %. Sales for the
ESCADA core brand were EUR 100.2 million, following sales of EUR
105.7 million for the first quarter of last year (- 5.2 %).
Eliminating the effects of foreign exchange rates, sales were up 2.8
%.

The profit was largely the result of two factors. Firstly, the
program to cut the Group’s structural costs is proceeding on schedule
and is showing its first results. Secondly, the current ESCADA
collections and products are being warmly received in all markets,
despite the continuing adverse market conditions.

For fiscal year 2003/2004, management continues to expect that Group
sales will remain stable, EBITDA will increase and the Group will
show an after-tax profit.

end of announcement        euro adhoc 05.03.2004

Further inquiry note:

Viona Brandt
Tel.: +49 (0)89 9944 1336
E-Mail: viona.brandt@de.escada.com

Branche: Clothing
ISIN: DE0005692107
WKN: 569210
Index: CDAX, Classic All Share, Prime All Share, Prime Standard, SDAX
Börsen: Berliner Wertpapierbörse / official dealing
Bayerische Börse / official dealing
Frankfurter Wertpapierbörse / official dealing
Bremer Wertpapierbörse (BWB) / regulated dealing
Hamburger Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade