DIS AG
DIS Dt. Ind. Serv. english
1.6 million DIS shares in accelerated book-building process
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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1.6 million DIS shares in accelerated book-building process
Dusseldorf, 10 September 2003.
The Chairman of the Supervisory Board Dieter Paulmann and his family have
decided to place up to 1.6 million DIS shares with institutional investors as
part of an accelerated book-building process. We understand that the proceeds
will be used to pay off the last remaining credit lines arising from the MBO.
Following the placement, the Paulmann family’s share in DIS AG will be reduced
from around 50% to 37.5%. “With the remaining 37.5%, I would like to participate
in the excellent prospects of the sector in the coming years, not least as a
result of the recently concluded wage agreement”, explained Dieter Paulmann. In
addition, the Paulmann family have agreed to a 6-month lock-up period.
The Management Board welcomes the increase of the free float from some 50% to
62.5% as a result of this placement. We are convinced that our investors will
also welcome the resulting increase in liquidity.
The Management Board would like to take the opportunity to report on a
favourable start to Q3. Whilst sales fell by 7.0% to EUR 20.4 million in July
2003, the gross margin was increased considerably by 200 basis points to 41.3%.
Earnings before tax rose by 12.3% to EUR 2.9 million. In addition to the
increase in the gross margin, cost savings in the order of 8% contributed to the
improvement of the pre-tax margin from 11.6% to 14.0% in July 2003. From
January to July 2003, sales have thus fallen by 7.9% to EUR 125.8 million with a
slightly increased pre-tax margin of 6.2% after 6.1% compared to the same
period last year. Owing to the good performance in July and the initial
indications for August, the Management Board reaffirms its guidance for a 5%
decline in sales to around EUR 221 and a 9% fall in earnings before tax to EUR
14.5 million for the full year 2003.
Based on the significantly improved economic prospects for 2004, in which
economists are forecasting economic growth for Germany in the order of 1.4%, the
DIS AG Management Board is optimistic with regard to its prospects.
Contact: DIS AG, Dominik de Daniel, CFO, 40547 Dusseldorf, Tel.: ++49 211
530653-16, e-mail: de-daniel@dis-ag.de .
end of ad-hoc-announcement (c)DGAP 10.09.2003
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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
100742 Sep 03
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