DIS AG
DIS AG has exercised its option regarding purchase of the encad Group
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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DIS AG has exercised its option regarding purchase of the encad Group
Dusseldorf, 27 January 2004. DIS Deutscher Industrie Service AG, the market
leader for professional personnel services in Germany, has exercised its option
regarding purchase of the encad Group (encad GmbH, Technoservice GmbH, n-genies
GmbH), purchasing 100 percent of the shares with retroactive effect from 01
January 2004. encad is an SME based in Nuremberg with branches in southern
Germany, which offers professional engineering services, specialising in the
areas of plant construction, mechanical engineering and vehicle technology. The
purchase of encad will ideally complement the activities of euro engineering AG,
which generated sales of Euro 58.9 million in 2002 as a wholly-owned subsidiary
of DIS AG. There are no plans to integrate encad GmbH into euro engineering AG.
Technoservice GmbH deploys professional skilled workers in the context of
employee secondment, and is set to be integrated into DIS AG. The purchased
companies are likely to contribute around Euro 19 million to the group sales of
DIS AG in 2004. After financing costs, the contribution to consolidated earnings
before tax is likely to total Euro 1.3 million in 2004.
Due to the change to IAS 36, which provides for the introduction of the
impairment test instead of goodwill amortisation, DIS AG will subject the
impairment resulting from acquisition to the impairment test instead of
amortising it on an annual basis. The change to IAS 36 must be implemented by 1
January 2005, although earlier application is recommended. DIS AG will apply the
change for the first time in the 2004 reporting year.
Contact: Dominik de Daniel, CFO, Niederkasseler Lohweg 18, D-40547 Dusseldorf,
tel.: ++49 211 530653-16, fax: ++49 211 530653-740, e-mail: ir@dis-ag.de
end of ad-hoc-announcement (c)DGAP 27.01.2004
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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
270840 Jän 04
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