antwerpes AG

euro adhoc: antwerpes AG
Quarterly or Semiannual Financial Statements
antwerpes publishes first quarter figures (E)

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Sales: EUR 2.4 M. EBITDA: EUR 0.1 M. EBIT: EUR 0.01 M. Profit per share: 2 Cents

Cologne, 5 May 2004 - The Cologne-based antwerpes ag, (ISIN DE0005471007 // WKN 547100) generated sales amounting to EUR 2.4 million in the first quarter of the financial year 2004 (previous quarter 2003: EUR 3.3 million). This corresponds to a decline of 26 percent. The gross profit amounts to EUR 1.6 million in comparison with EUR 1.9 million and is thus 15 percent below the previous quarter’s level. The reason for the modest start to the 2004 business year was the Health Reform Act that went into effect on January 1. This legislation forced customers from the Healthcare sector to drastically reduce their marketing budgets starting in the first quarter. In light of these developments, antwerpes ag took measures to adjust its participation portfolio in the first quarter. The Berlin office of antwerpes & partner ag is to be relocated and fused with the Cologne office as of 30 June and the company sold off its 51 percent stakeholding in the antwerps.korte consulting GmbH dated retroactively January 1, 2004. This entailed EUR 0.1 million for increased depreciation and provisions in the first quarter. In spite of the drop in turnover in the first quarter and the increased write-offs and provisions, positive figures were booked for all of the key financials: Earnings before interest, taxes, depreciation and amortisation (EBITDA) amounts to EUR 0.11 million EUR (previous quarter: EUR 0.26 million), the profit before interest and taxes (EBIT) amounts to EUR 0.01 million (EUR -0.01 million). The result from ordinary business activities amounts to EUR 0.21 million (EUR 0.20 million). The profit per share is 2 cents (2 cents). The Communications Division (antwerpes & partner ag) was particularly hard hit in terms of turnover. The turnover dropped by 38 percent compared to the previous quarter from EUR 2.2 million to EUR 1.4 million while sales of EUR 1 million meant that it was possible to maintain the "DocCheck, Commerce & Logistic" sales at a level commensurate with the previous quarter (EUR 1 million).

At the end of the first quarter the level of liquidity and short-term investments/securities was at EUR 30.5 million, i.e. 5.17 EUR/share and thus on the same level as the 4th quarter 2003 (EUR 30.7 million).

end of announcement            euro adhoc 05.05.2004

Further inquiry note: Tanja Mumme Tel.: +49 (0)221 92053 139 E-Mail:

Branche: Advertising
ISIN:      DE0005471007
WKN:        547100
Index:    Prime Standard
Börsen:  Frankfurter Wertpapierbörse / regulated dealing
              Niedersächsische Börse zu Hannover / free trade
              Berliner Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Hamburger Wertpapierbörse / free trade
              Bremer Wertpapierbörse (BWB) / free trade
              Börse Düsseldorf / free trade
              Baden-Württembergische Wertpapierbörse / free trade

Weitere Meldungen: antwerpes AG

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