Ad-hoc | 18 March 2003 18:23

EUWAX Broker AG english

EUWAX Broker AG Increases its Dividend Payment to Shareholders by 40% Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– EUWAX Broker AG Increases its Dividend Payment to Shareholders by 40% Due to the very good business development, EUWAX Broker AG realised its highest net income since the foundation of the company in the fiscal year 2002. Compared to the previous year the net income increased by 16% to kEUR 8,422 (2001: kEUR 7,251). Compared to the previous year, DVFA earnings per share increased by EUR 0.12 (+6.2%) to EUR 2.06. Therefore, the dilution effect resulting from the increase in the share capital by kEUR 1.400 (+37.3%) to kEUR 5,150 was more than compensated at the end of the year. This development is also reflected in the common dividend proposal of EUWAX Bro- ker AG’s Supervisory and Management Board. If their dividend proposal is accepted at the annual general meeting on July, 18th 2003, the shareholders will receive an unchanged dividend per share of EUR 0.90 compared to previous year. The dividend payment to the risen share capital will then increase by 40 % to kEUR 4,635 compared to previous year. Key figures at a glance: 31.12.2002 31.12.2001 Veränder. Earnings kEUR 35,413 21,900 61.7% Expenditures kEUR 20,593 10,865 89.5% Income from ordinary activities kEUR 14,820 11,035 34.3% Net income kEUR 8,422 7,251 16.1% Cash Flow kEUR 10,069 8,121 24.0% Earnings per share (DVFA/SG) EUR 2.06 1.94 6.2% Return on equity (before tax) % 32.4 38.3 -15.4% Dividend per share EUR 0.90 0.90 0% Subscribed capital kEUR 5,150 3,751 37.3% Thomas Krotz (CFO) Phone: +49 (0)711 2 22 98 93 60 E-mail: investor.relations@euwax-broker.de Stuttgart, March 18, 2003 end of ad-hoc-announcement (c)DGAP 18.03.2003 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Significant Increase in Earnings at EUWAX Broker AG In a tense economic and a geopolitical environment and in a continuing, extremely difficult situation at global financial markets, EUWAX Broker AG could increase its net earnings by kEUR 1,171 (+16%) to kEUR 8,422 in the fiscal year 2002. The income from ordinary activities rose by kEUR 3,784 or 34.3% to kEUR 14,820. There was also a significant increase of the cash flow of +24% to kEUR 10,069 According to a statement of Thomas Krotz, CFO of EUWAX Broker AG, the pick-up in the turnover in the second half of the year 2002, the diversification of the earnings basis and the positive synergy effects created by the concluded merger with SWG Wertpapierhandels AG in 2002 have contributed to the very positive business development of the company. Positive Business Development Compensates Equity Dilution Through the exercise of 1.1 million warrants from a conditional capital increase and on the basis of a capital increase due to the merger with SWG Wertpapierhandels AG of kEUR 302, the share capital of EUWAX Broker AG increased by kEUR 1,400 to kEUR 5,150. in the financial year 2002 Compared to the previous year, DVFA earnings per share rose by EUR 0.12 (+6.2%) to EUR 2.06. This is a very remarkable result considering the dilution effect due to the increase of the share capital by 37.3% at year’s end. The capital increase affected the liquidity of the company in a positive way. Despite of the liquidity outflow for the dividend payment for the fiscal year 2001 of kEUR 3,320, the liquid funds could be more than doubled to kEUR 9,712. Accordingly, the cash value per share significantly increased by 59% to EUR 1.89. If the considerable cash accounts held at banks of kEUR 30,000, invested in fixed-term deposits with a maturity of up to 3 months, and the stock of securities of kEUR 5,667 are included, the short term liquid funds per share amounted to EUR 8.81 on December 31, 2002. While the annual loss of the German Share Index DAX amounted to 44% in 2002, marking the highest loss ever since its establishment in 1959, the share of EUWAX Broker AG realised a very pleasant development with the increase of its share price of 30% to EUR 12.35, thus being one among the few successful stock investments in Germany in the previous year. In consideration of the dividend payment of EUR 0.90 for the fiscal year 2001, our shareholders realised a total shareholder return of 39.5% (capital gain plus dividend payment) in 2002. Unchanged Dividend of EUWAX Broker AG for the Fiscal Year 2002 Due to the very good business development, the positive outlook for the further development of the company and despite the increase in the share capital of 37% in the fiscal year 2002, the Board of Management and the Supervisory Board will propose at the annual general meeting on July 18, 2003 a dividend payment in the amount of EUR 0.90, thus remaining unchanged compared to the previous year. The dividend rate is 55%, up 20% from the previous year’s figure. Based on the closing price of EUWAX Broker AG’s share on December 31, 2002 the dividend yield is 7.3%. There-fore, the company continues its shareholder friendly dividend policy. New Major Shareholder of EUWAX Broker AG On January 29, 2003, as already communicated, the Vereinigung Baden- Württembergische Wertpapierbörse e.V. (“Vereinigung”) has published its mandatory offer for the purchase of all shares of EUWAX Broker AG. The mandatory offer was accepted by 1,404,974 shares until the expiration of the deadline on February 27, 2003. This represents a share capital’s quota of 27.28%. The Vereinigung therefore held 2,979,974 shares or 57.86% of EUWAX Broker AG’s share capital at the end of the deadline. In addition, the Vereinigung holds a call option over 1,271,878 shares (24,7% of the company’s share capital). Together with this call option the Vereinigung succeeded in reaching its objective to acquire a qualified majority of EUWAX Broker AG. “The take-over of the majority of EUWAX Broker AG through the Vereinigung Baden- Württembergische Wertpapierbörse e.V. intensifies the close, long-standing collaboration between Stuttgart Exchange and EUWAX Broker AG. The positive acceptance of the take-over bid is fundamental for the future development of the financial centre of Stuttgart and therefore for our company”, stated Thomas Munz, chairman of the Board of Management. On January 30, 2003 the Board of Management and the Supervisory Board of EUWAX Broker AG explicitly supported the strategic concept of the take-over bid in their common statement. Stuttgart, March 18, 2003 ——————————————————————————– WKN: 566010; ISIN: DE0005660104; Index: Listed: Amtlicher Markt in München und Stuttgart; Freiverkehr in Düsseldorf, Frankfurt und Hamburg; Xetra 181823 Mär 03