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Abonner Scholz & Friends AG

Scholz & Friends AG

euro adhoc: Scholz & Friends AG
Scholz & Friends management satisfied with restructuring (E)

Disclosure announcement transmitted by euro adhoc. The issuer is
responsible for the content of this announcement.
Berlin, 29 November 2002 - Scholz & Friends AG’s programme for
restructuring itself as a pan-European communication services company
is proceeding according to plan. In the generally weak situation on
the communication market, the company’s management is satisfied with
progress made during 2002 which is expected to yield a positive
result for the full year.
Given this background situation, the management has decided to follow
the example set by several other companies and make unscheduled
amortisation of goodwill items. Although this will not affect
liquidity, it will result in negative earnings before interest and
taxes (EBIT), as compared with an EBIT of EUR 1.4 million in 2001. As
forecast, revenues will be slightly lower than last year’s figure of
EUR 74.4 million.
As in 2001, Scholz & Friends AG will be able to report positive
earnings before interest, taxes and amortisation (EBITA) during the
current financial year, although these will probably be lower than
last year’s EBITA of EUR 6.6 million. The management expects the
company’s successful restructuring and numerous successful new
business activities to create a very good starting position for the
next year. This should make it possible to achieve good results for
2003 despite the continuing difficult trading environment.
end of announcement        euro adhoc 29.11.2002

Further inquiry note:

Stefanie Frey, Investor Relations Tel.: 030/590053-114 stefanie.frey@s-f.com

Branche: Advertising
ISIN: DE0006972805
WKN: 697280
Index: CDAX Gesamtindex
Börsen: Baden-Württembergische Wertpapierbörse / free trade
Bayerische Börse / free trade
Berliner Wertpapierbörse / free trade
Hamburger Wertpapierbörse / free trade
Frankfurter Wertpapierbörse / regulated dealing