BEKO Holding AG
BEKO Holding AG english
BEKO HOLDING AG fiscal year 2002
Ad-hoc-announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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BEKO HOLDING AG fiscal year 2002: negative trend in sales and earnings
Vienna, March 31,2003.
The year 2002 was marked on the one hand by negative trends within the BEKO
Group, on the other hand by the poor economic conditions at the ITK-sector. The
insolvency of the PALLAS Soft AG and the reorganization process in the CLC AG
led to massive depreciation requirements at BEKO HOLDING AG and this has had a
very adverse effect on the Group’s balance sheet. Price losses among associated
companies and other essential holdings within: the BEKO portfolio led to
greater value adjustments.
Group sales in 2002 amounted to 62.3 m. EUR. This represents a drop of 25%
compared to the previous year, with 83.5 m. EUR.
The EBIT comes to -7.3 m. EUR. This corresponds to a deterioration of 5.1 m.
EUR compared to the previous year with -2.2 m. EUR.
The financing costs comes to 5.2 m. EUR in 2002 as a result of depreciations
(previous year 0.6 m. EUR ). In the same period, the earnings from associated
companies deteriorated due to goodwill amortisation and losses to -5.6 m. EUR
(previous year -0.5 m.EUR).
The EGT amounts to -16.9 m. EUR in 2002 (previous year -0.7 m. EUR).
In total, earnings after taxes comes to -14.1 m. EUR (previous year -1.1 m.
EUR). The annual group result amounts to -13.2 m. EUR once minority earnings
have been offset (+0.8 m. EUR). The movement of reserves (+13.8 m. EUR) and
profit brought forward from 2001 (+7.9 m. EUR) lead to a profit of 8.5 m. EUR
on the consolidated balance sheet in 2002. Cash reserves amounting to 19.2 m.
EUR at the end of 2002, therefore 3.2 EUR per share.
Once all depreciations have gone through the balance sheet and a turning point
is apparent, management will reformulate its strategy on the basis of these
stocks and, following its submission to the executive body, will present this
strategy to the most important shareholder groups, institutional investors,
finance intermediaries and the interested public.
Management is convinced that a radical restructuring and concentration of the
Austrian IT-related service sector is vital to cope with the sectoral crisis.
IAS-figures Unit 2001 2002
Revenues EUR m. 83,5 62,3
Operating profit before depreciations (EBDIT) EUR m. 1,7 -3,7
Result from operations (EBIT) EUR m. -2,2 -7,3
EBIT margin as % of revenues % -2,7% -11,8%
Result before tax (EGT) EUR m. -0,7 -16,9
Result after tax EUR m. -1,1 -14,1
Annual group result EUR m. -0,4 -13,2
Net profit EUR m. 7,9 8,5
Employees (Average) Persons 1.040 906
Earnings per share EUR -0,06 -2,21
BEKO HOLDING AG
PR/IR & Communication, Dr. Max Höfferer
Modecenterstrasse 22/A1, A-1030 Wien
Tel.: +43 1 797 50 – 244, Fax: +43 1 797 50 – 8004
max.hoefferer@beko.at, http://www.beko-holding.com
end of ad-hoc-announcement (c)DGAP 31.03.2003
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WKN: 920503; ISIN: AT0000908603; Index:
Listed: Geregelter Markt in Frankfurt (General Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hannover, München und Stuttgart
311022 Mär 03
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