Phoenix AG
Phoenix Records Strong Second Quarter
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Phoenix Records Strong Second Quarter
Phoenix AG announced the unaudited results for second-quarter 2004 at the
company’s Annual Shareholders’ Meeting in Hamburg.
Hamburg-headquartered Phoenix AG reported that second-quarter results equaled
the good performance of the first quarter. Second-quarter revenues came to
approximately 250 million EUR. Earnings for the second quarter of the current
financial year were up from the 7.6 million EUR posted for the first quarter
(PY: 3.0 million EUR as of June 30). Net borrowings decreased again in the
second quarter to approximately 275 million EUR. As a result, net borrowings as
of June 30 were down approximately 63 million EUR from the comparable year-ago
figure. Due to positive development with respect to both net borrowings and
shareholders’ equity, the gearing ratio once again showed improvement as of the
end of the second quarter.
Outlook
Having posted a strong first half, Phoenix is confident that the company will
end the current financial year with significant improvement in both revenues and
earnings as compared with the previous year’s performance. Net borrowings will
be further reduced.
end of ad-hoc-announcement (c)DGAP 09.07.2004
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WKN: 603100; ISIN: DE0006031008; Index: SDAX
Listed: Amtlicher Markt in Berlin-Bremen, Düsseldorf, Frankfurt (Prime
Standard), Hamburg und München; Freiverkehr in Stuttgart
090800 Jul 04
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