PixelNet AG
PixelNet AG english
PixelNet AG (Neuer Markt: PXN) at the Annual Shareholders’ Meeting:
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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– Holding steady in 1st Quarter despite massive market weakness
– Aiming for over-proportional growth in results for 2002 through cost reduction
Wolfen, 30 April 2002 – For the first quarter of this year, PixelNet AG (Stock
market code: PXN) was able to maintain the same results as last year based on a
quarterly full consolidation, despite the difficult market situation, which
strongly affected trade. With an increase in revenues to 44.2 million EUR
(previous year: 30.6 million EUR), the company showed negative results before
interest and taxes (EBIT) at a level of -7.3 million EUR. The subsidiary PHOTO
PORST was consolidated by February 19, 2001. Going against the trend of the
market as a whole – which fell up to 30 percent – PixelNet was able to hold
steady in almost all areas through early anti-cyclical measures, particularly
in marketing and advertising.
Against the backdrop of a forced expansion of the sales and services structure,
a consistent portfolio cleanup and constant cost-reducing measures, Chief
Executive Officer Matthias Sawatzky reinforced an over-proportional growth in
results for the coming year, with a target span of 10 to 15% for growth in
revenue according to prepared remarks for the general shareholders’ meeting in
Nuremburg.
end of ad-hoc-announcement (c)DGAP 30.04.2002
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WKN: 527980; ISIN: DE0005279806; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
302215 Apr 02
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