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Abonner GARANT SCHUH + MODE AG

GARANT SCHUH + MODE AG

euro adhoc: GARANT SCHUH + MODE AG
Restructuring measures impact on GARANT Group‘s annual results (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
Düsseldorf, April 23, 2004 - In Fiscal 2003 GARANT SCHUH + MODE AG
boosted Group turnover to 179.5 m. euro, a rise of 52.9% on last
year‘s figure (117.5 m. euro), following acquisition of SALAMANDER
SCHUH GmbH. 
Under IAS, the Group‘s annual deficit now totals 14.1 m. euro
(compared to last year‘s net earnings of 2.8 m. euro). Following
adoption of the restructuring concept for SALAMANDER SCHUH GmbH,
which was acquired on October 1, 2003, Group results were adversely
affected by other one-off provisions of 18 m. euro and by further
special bad-debt charges totalling 5.9 m. euro.
Following conclusion of the restructuring phase GARANT is confident
of achieving positive  Group results in Fiscal 2004.
The Annual Earnings Press Conference for Fiscal 2003 is scheduled on
April 29, 2004.
end of announcement        euro adhoc 23.04.2004

Further inquiry note:

Jenny Bleilefens
Investor Relations
Telefon: +49(0)211-3386-311
jbleilefens@garantschuh.com

Branche: Consumer Goods
ISIN: DE0005853030
WKN: 585303
Index: CDAX, Classic All Share, Prime Standard
Börsen: Börse Düsseldorf / official dealing
Frankfurter Wertpapierbörse / official dealing
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Hamburger Wertpapierbörse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Baden-Württembergische Wertpapierbörse / free trade