Dr. Scheller Cosmetics AG
Dr. Scheller Cosmetics AG unexpectedly announces negative earnings for the year
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Dr. Scheller Cosmetics AG unexpectedly announces negative earnings for the year
Eislingen, 2004-02-18 With the close-the-books work nearly finished, Dr.
Scheller Cosmetics AG will probably disclose a net loss before taxes for the
year of approx. EUR 2.6 million.
The reason for the deterioration are findings made by the auditors during the
preparation of the financial statements that customer-related expenses and
valuation allowances on current assets were not adequately reflected in the
forecasts for the result of the fiscal year 2003.
At the same time, an impairment loss has been recorded on the investment in the
Polish subsidiary due to an amended view of market developments there and
changes in the composition of shareholders.
The deterioration in earnings as a result only affects the fiscal year 2003 and
has no impact on the current year.
In view of the earnings situation for 2003, the management board will not be
able to propose a dividend payment for the year.
The company has announced that the director responsible for finance, controlling
and personnel, Mr. Siegfried Banzhaf, has asked the supervisory board in
connection with this to terminate his contract with immediate effect. The
supervisory board has complied with this request and at the same time decided
that the portfolio for which Mr. Banzhaf was responsible to date will be jointly
managed by the other members of the management board until a suitable successor
for the finance, controlling and personnel portfolio is appointed.
For further informations please contact:
Dr. Scheller Cosmetics AG
Cornelia Banzhaf
IR und PR
Schillerstr. 21-27
73054 Eislingen
Tel. 07161 – 803.208
Fax 07161 – 803.300
Cornelia.Banzhaf@dr-scheller-cosmetics.com
end of ad-hoc-announcement (c)DGAP 18.02.2004
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WKN: 720130; ISIN: DE0007201303; Index:
Listed: Amtlicher Markt in Frankfurt (Prime Standard) und Stuttgart; Freiverkehr
in Berlin-Bremen, Düsseldorf und München
181739 Feb 04
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