DIS AG
DIS AG: Dividend increase of 33 percent to EUR 0.40 proposed
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Dusseldorf, March 23, 2004 – The personnel services specialist DIS Deutscher
Industrie Service AG has confirmed its provisional figures for the 2003
financial year. Sales within the DIS Group fell by 6.1 percent to EUR 218.4
million. Consolidated net income for 2003 as a whole fell by 7.2 percent to EUR
8.4 million. Earnings per share fell by 5.1 percent to EUR 0.66 in 2003.
Before goodwill amortisation, this represented a decline of 3.8 percent to EUR
0.80.
In view of the strong cash flow and the net cash position of EUR 21.5 million,
the Board of Management and the Supervisory Board are set to propose a dividend
increase of 33 percent to EUR 0.40 at the Annual General Meeting on May 4, 2004.
On the basis of the general economic situation outlined, the Board of Management
of DIS AG expects an increase of around 15 percent to EUR 250 million for 2004
as a whole. This can be attributed both to organic growth of approximately 7
percent and the initial consolidation of the encad Group.
As there are currently still too few empirical values regarding the collective
wage agreement and the subsequent susceptibility of the customer or the market,
the Board of Management’s gross margin estimates are conservative and it expects
a gross margin decline of 150 basis points to 34.5 percent. Posting a decline
of 90 basis points, development in the first two months of 2004 was better than
expected, despite the fact that there was one less working day than in the
previous year. The gross margin decline in the first two months of 2004 is not
due to the introduction of the collective wage agreement, but almost exclusively
to the delayed start to a project in the Engineering segment, in particular in
the automotive and automotive suppliers industry.
Earnings before goodwill amortisation (EBITA) are likely to increase by
approximately 12 percent to EUR 19.0 million in the 2004 financial year, with
the gross margin decline thus being almost completely offset by improvements in
efficiency.
The full report is available under http://www.dis.ag.
Contact: Dominik de Daniel, CFO, Niederkasseler Lohweg 18, 40547 Düsseldorf,
Tel.: ++49 211 530653-16, Fax: ++49 211 530653-740, E-Mail: ir@dis-ag.de.
end of ad-hoc-announcement (c)DGAP 23.03.2004
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WKN: 501690; ISIN: DE0005016901; Index: SDAX
Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, München und Stuttgart
230757 Mär 04
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