Kamps AG
Kamps AG english

Preliminary results 2002 – Kamps AG Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Preliminary results 2002 – Kamps AG Düsseldorf, March 27, 2003 The Management Board of Kamps AG, which has been a member of the Barilla Group since July 2002, has now given a first indication of the 2002 financial figures. Despite the weak situation in the food retail business and the poor consumer climate, the Düsseldorf-based bakery Group managed to slightly increase net sales for 2002 to EUR 1.73 billion (2001: EUR 1.71 billion). EBITDA decreased to EUR 139.2 million (2001: EUR 187.2 million). At EUR 22.2 million, EBIT in 2002 was also well down on the 2001 figure of EUR 86.7 million. This is basically the result of systematic balance-sheet cleaning, which was commenced in the 3rd quarter and completed in the 4th quarter (as already communicated to the market). As most of these cleaning measures basically reflected non-cash costs (goodwill impairments and other asset write-downs), there was no significant rise in net liabilities (approx. EUR 793 million in 2002 as against EUR 761 million in 2001). The cleaning measures impacted on the Group results, leading to a net loss after tax for the year of EUR 126.8 million (2001: net income of EUR 5.5 million), which in turn reduced consolidated shareholders’ equity to EUR -34.8 million. However, even after the cleaning measures, the financial statutory statements of Kamps AG show sound shareholders’ equity of EUR 727.4 million. Furthermore, the Board has announced that the Group’s financing requirements have been secured by the prolongation of existing bank loans and the negotiation of new loans some with a longer maturity. By cleaning up the balance sheet, the new Management Board of Kamps AG has demonstrated its determination to initiate the successful consolidation of the company. The annual press conference will be held in Düsseldorf on April 16, 2003. end of ad-hoc-announcement (c)DGAP 27.03.2003 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Contact: Kamps AG Investor Relations: Thomas Sterz 0049-211-530 634 230 Public Relations: Volker Berg 0049-211-530 634 66 Fax 0049-211-530 634 67 Internet http://www.kamps.de e-mail info@kamps.de ——————————————————————————– WKN: 628060; ISIN: DE0006280605; Index: Listed: Amtlicher Markt in Düsseldorf und Frankfurt (General Standard); Freiverkehr in Hamburg, Hannover, München und Stuttgart 271135 Mär 03