Ad-hoc | 8 November 2001 08:15

Drillisch AG english

08.11.01: Drillisch AG publishes its figures for the third quarter 2001 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Number of mobile communication subscribers increased by more than 37 % compared with the same period the previous year Considerable reduction of net debt In the third quarter 2001, the Drillisch Group expanded its subscriber base from 430,000 to 591,000, equivalent to an increase of 37 % compared with the same period the previous year. Contrary to general market trends, Drillisch was able to expand its subscriber numbers by 61,000 (11.5 %) in the third quarter alone. A continuation of the positive development in the number of subscribers can be expected for the fourth quarter 2001. Compared with the same period the previous year, Group sales declined by 10.5 percent to 129.7 million Euro. The decline in sales is related to the significant drop in the mobile communication retailers prices of end appliances. Moreover, sales from the fixed network and IT technology divisions are no longer included in an amount of 11.1 million Euro in the previous year, as these no longer form part of the core business areas of the restructured Drillisch Group. The sales target for 2001 has now been revised to approximately 165 million Euro. EBITDA for the first nine months of 2001 remains positive at 797,000 Euro, in spite of massive expenditure on restructuring measures. These costs include special depreciation resulting from the closure of locations, extraordinary personnel expenses and an unusual amount of precautionary depreciation relating to the current assets. One important step taken by the Drillisch Group during the third quarter 2001 was to reduce the burden of net debt and, as such, to strengthen the financial position of the Group. Overall borrowings declined by 2.3 million Euro from 17.8 million Euro to 15.5 million Euro. Further borrowings of approximately 2.2 million Euro were repaid by the beginning of November 2001. As such, it will be possible to considerably lower interest expenditure in the future. Moreover, inventories were reduced by 20 % during the first nine months of 2001. The ability to adjust rapidly to the market using creativity and flexibility and the optimisation of internal cost structures ensure that the Group has a healthy basis for securing future business success and optimal positioning. end of ad-hoc-announcement (c)DGAP 08.11.2001 ——————————————————————————– WKN: 554550; Index: Listed: Neuer Markt in Frankfurt und im Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 080815 Nov 01