DIS AG
DIS Dt. Ind. Serv. english
DIS AG: 3rd quarter 2002 results
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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DIS AG: 3rd quarter 2002 results
Düsseldorf, 5th of November 2002 In the third quarter of 2002 group sales at
DIS AG declined by 8.5% to EUR 62.9 million, largely due to the weak current
economic environment. On the other hand, the development of the gross earnings
margin in all five segments of DIS AG was very satisfactory. While the market as
a whole struggled with considerable non-placements, in the third quarter of
2002, DIS AG increased its gross earnings margin by 100 basis points to 38.1%.
With the exception of the IT segment, the contribution margin was increased in
all segments. Besides the improvement in the gross margin, this can mainly be
attributed to savings in the personnel area and in advertising expenditure.
After the fall of pre-tax earnings in the second quarter 2002 of 25.8%, the
decline of 12.0% to EUR 6.7 million in the third quarter of 2002 showed
significant improvement. Besides the operative development, improvement in
receivables management led to a significant increase in the cash balance from
EUR 5.1 million on June 30, 2002 to EUR 11.8 million on September 30, 2002.
Against a background of the current valuation of the DIS share and the high cash
generation in the third quarter of 2002, DIS AG will step-up the repurchase of
own shares. The GDP growth rate for Germany was further reduced in the past
months. From todays point of view, an overall economic upswing is not
anticipated until the second half of 2003. As a result the Board of Management
of DIS AG has revised it sales forecast for the 2002 financial year. Group sales
are expected to decline by 10,5% to EUR 232 million, as opposed to the approx.
5% fall in sales which was previously planned. Pre-tax earnings of EUR 15.0
million are anticipated (previous year: EUR 21.1 million), as opposed to the
planned EUR 19.0 to 20.0 million. Contact: Dominik de Daniel, CFO, phone: ++49
211 530653-16, FAX: ++49 211 530653-740, de-daniel@dis-ag.de. Download the full
report under http://www.dis.ag.
end of ad-hoc-announcement (c)DGAP 04.11.2002
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WKN: 501690; ISIN: DE0005016901; Index:
Listed: Amtlicher Markt in Frankfurt; Freiverkehr in Berlin, Düsseldorf,
Hamburg, München und Stuttgart
042047 Nov 02
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