Eurobike AG
Eurobike AG english
A new broom at Eurobike
Ad-hoc-announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
——————————————————————————–
A new broom at Eurobike
New Board of Management conducts “E-Value 2002”, Group-wide, complete
restructuring program
EBIT of 0.6 million Euro surmounts plan with 2.8 million Euro
New strategic guideline requires further corrections to the balance sheet
Düsseldorf, 13th December 2001 – The newly formed Board of Eurobike AG (code
no. 570 660) has made its subsidiaries and units – according to the new
strategic orientation and the change of accounting standards in fiscal year
2000/01 (30.09.01) – subject to a true-and-fair-value-verification. The former
plannings of expenditure below EBIT amounting to – 38.8 million Euro (according
to German HGB) were confirmed.
Corresponding to the strategic focus on retail, all attempts at fixing balance
sheet values in the wholesale area were adjusted. The retail activities were
revaluated according to their importance in the Group. These supplementary
measures on the balance sheet accomodate to the future significance of the
retail unit of Eurobike. After making the appropriate corrections to the values
amounting to 38.1 million Euro, there is a Group deficit as of 30.09.2001
amounting to 79.6 million Euro (HGB), being fully covered by the company’s
reserves. According to IAS this amount will in fact be significantly lower, as
parts of the value adjustments are attributable to former fiscal years.
As a result of the successful restructuring measures, Eurobike AG is recording
sales revenues of 276.0 million Euro in the fiscal year 2001 as of 20.09.2001
(previous year 268.9 million Euro). According to IAS, the operating results
before interest and tax (EBIT) amounts to + 0.6 million Euro, 2.8 million Euro
higher than targeted goal. The essential components of “E-Value 2002” are a much
leaner structure and qualitative improvement in wholesale activity, cost-
savings in goods and material employed, in human resources and in material
costs. Full year effects are planned to amount to 18.4 million Euro in 2000/01.
With regard to the successful restructuring measures so far, the Eurobike Group
confirms its plans for 2001/02: a positive EBIT amounting to 17.0 million Euro
and a positive consolidated surplus are expected. The Board of Management will
make a detailed announcement on the occasion of the analyst conference at the
end of January 2002.
Contacts:
Eurobike AG, Beate Dannenberg, Tel. ++49 (0)211 / 9885-92,
beatedannenberg@eurobikeag.com
end of ad-hoc-announcement (c)DGAP 13.12.2001
——————————————————————————–
WKN: 570660; ISIN: DE0005706600; Index: SDax
Listed: Amtlicher Handel in Frankfurt (SMAX) und Düsseldorf; Freiverkehr in
Berlin, Bremen, Hamburg, München und Stuttgart
131212 Dez 01
Aktuelle News
Aktuelle Berichte
Anstehende Events
Keine Events gefunden
Webcasts
Keine Webcasts gefunden