Ad-hoc | 31 May 2002 08:31

Capital Stage AG english

Sharp improvement in results expected per 30.6.2002 following a loss in the 1st Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Sharp improvement in results expected per 30.6.2002 following a loss in the 1st +++ The business development of Capital Stage AG in the first three months of the fiscal year was shaped by the continuing poor state of the stock markets. A consolidated post-tax result of -2.96 million euros (1st quarter of 2001: -2.10 million euros) was achieved on group earnings of 0.97 million euros (31.3.2001: 1.42 million euros). The result before interest, taxes, depreciation and amortisation (EBITDA) was -2.12 million euros compared with -2.08 million euros per the same date of the previous year. Adjusted for splitting, the DVFA result per share was -0.12 euros, following -0.08 euros in the same quarter last year. The disposal of Universal Prints and Handel Verlag GmbH and of stakes in farmatic biotech energy ag in the 2nd quarter of 2002 means that a sharp improvement in first-half results can be expected. The result for the period at the Investment division was negative, with earnings of -0.50 million euros and earnings before taxes and interest (EBIT) of -0.95 million euros. Despite the increasing decline in turnovers from trading on stock markets, the EBIT at the Banking business division was able to be improved sharply to -1.14 million euros per 31.03.2002 compared with -2.13 million euros on the same date in the previous year. Its earnings were 1.39 million euros, following 1.60 million euros in the same period last year. In the Services division, an EBIT of -0.60 million euros and earnings of 0.08 million euros were achieved in the 1st quarter. The number of employees at the group rose year-on-year from 81 to 96 as a result of the incorporation of Futura Capitalis subsidiaries in the 3rd quarter of 2001. Nevertheless, administrative costs in the group were able to be kept constant at 3.55 million euros per 31.03.2002 (31.3.2001: 3.55 million euros). This is due above all to the successful implementation of cost adjustment measures initiated in the 4th quarter of 2001. These resulted in a fall of around 20 % in the number of employees at the group in the past quarter. At the same time, staff at the Banking business division waived part of their salary for a limited period of time. As a result of the cost-cutting and restructuring measures and sale of the stake in farmatic, the company expects to achieve a balanced consolidated result in fiscal 2002. end of ad-hoc-announcement (c)DGAP 31.05.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: The complete quarterly report is available for downloading as a pdf-file from http://www.capitalstage.com. Contact: Louis Günther / Investor Relations, Domstraße 17, Capital Stage AG, D-20095 Hamburg, phone: +49 (0)40. 37 85 62 622, fax: +49 (0)40. 37 85 62 611, louis.guenther@capitalstage.com, www.capitalstage.com ——————————————————————————– WKN: 609500; ISIN: DE0006095003; Index: SDax Listed: Geregelter Markt in Frankfurt (SMAX) und Hamburg; Freiverkehr in Berlin, Düsseldorf und Stuttgart 310831 Mai 02