UBAG Unternehmer Beteiligungen AG
InternetMediaHouse.com english
UBAG: Q3 results reflect the deliberate restraint in divestments
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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UBAG: Q3 results reflect the deliberate restraint in divestments
Following the restructuring measures completed in the first half-year, UBAG
Unternehmer Beteiligungen AG (formerly InternetMediaHouse.com AG) devoted the
third quarter of 2001 to strengthening and intelligently expanding its
investment portfolio.
Owing to the unfavorable market situation, UBAG did not conduct any sales
affecting earnings in the third quarter. Overall sales accordingly increased
during the first nine months only slightly compared with the half-year, by TDM
38 to TDM 1,994. This was accompanied by a quarterly net loss of TDM -771, with
the total net loss for the first nine months amounting to DM -2.956 million.
Owing to the absence of revenues and costs related to divestments in the third
quarter, this loss basically reflects the operational costs of the quarter,
which have dramatically decreased over the last few months and are expected for
the whole of 2001 to be only 25% of the previous year’s value (about DM 16
million). Comparison with the previous year’s figures is not fruitful, since a
few majority holdings had been maintained prior to the portfolio restructuring
implemented this year.
UBAG shall continue with its policy of avoiding window dressing, and of
conducting divestments only when conditions allow the maximum exit revenues.
Owing to its lean cost structure and the current liquidity situation UBAG is
not dependent on investment revenue in the short term, as are other venture
capital companies.
The Management of UBAG is confident that it can continue consistently to
increase the value of the investment portfolio. This intrinsic value of UBAG as
measured by the accumulated market price of all investments, the so-called “net
asset value,” lies well above UBAG’s current market capitalization.
Contact:
UBAG Unternehmer Beteiligungen AG
Christine Bachschmidt
Tel: 089.649.49-541
Fax: 089.649.49-150
Mail to: cb@ub-ag.com
http://www.ub-ag.com
end of ad-hoc-announcement (c)DGAP 29.11.2001
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WKN: 613860; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
290815 Nov 01
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