Ad-hoc | 17 May 2002 06:10

BOV AG english

BOV in the first quarter within the scope of own expectations Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– BOV in the first quarter with a total operating performance of 6.0 million EURO and a quarterly result of -1.3 million EURO (EBITDA) within the scope of expectations Process of consolidation being continued, Break even expected for the fourth quarter Low level of trading activity in January and February in the field of qualification as well as insolvency of the customer Idento Autoteile AG forced down BOV AG volume of trade in the first quarter. Successful conversion of the Corporate Account Management resulted into a stimulation of business with new customers. At the same time important follow-up orders could be concluded with regular customers. Considering the rate of order bookings and stabilising sales since March BOV is confident that turnover will rise from the fourth quarter onward. For the 2nd and 3rd quarter of the year 2002 sales of the level Q1 are to be expected. The process of consolidation is being continued consistently. Priorities for further cost cutting will particularly be in the field of product development, streamlining of administration and overheads. The member of the managing board, Mr. Rudolf Ulc will withdraw from the managing board on 31st May 2002. In the future, Mr. Rudolf Ulc will continue to attend to existing BOV AG customers in his present area of authority on the basis of an advisory contract. On the basis of present estimates BOV is expecting a total operating performance of 24 million to 25.5 million EURO and a EBITDA between -2.75 million EURO and -2.0 million EURO for fiscal 2002 as well as a positive quarterly result in the fourth quarter. end of ad-hoc-announcement (c)DGAP 17.05.2002 ——————————————————————————– WKN: 549 370; ISIN: DE0005493704; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München , Stuttgart, Hannover 170610 Mai 02