Ad-hoc | 12 February 2004 15:36

EUWAX AG: highest net income in corporate history- provisional accounts for 2003

Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Stuttgart, February 12th, 2004 EUWAX AG with highest net income in corporate history- provisional accounts for 2003 EUWAX AG managed to increase its net earnings significantly for the year ended 31 December 2003. The reporting year was therefore a successful continuation of the positive business development in the past. In comparison to the previous year, the income of ordinary activities increased by 46.6% or EUR 6,912k to a historically high level of EUR 21,732k. Accordingly, net earnings increased by 40.9%, just to announce a record level of EUR 11,870k as well. The higher profits stem from a combination of a positive development in contract notes and trading volume, both reaching new record highs. Adding to that, consistent cost reduction measures and ensuing rises in efficiency contributed to the outstanding performance of EUWAX AG in terms of profitability. By maintaining its conservative accounting principles, significant write-downs on our investment portfolio and our activities in proprietary trading have been made. All in all, with new records in earnings, annual cash flow and equity, EUWAX AG has a very advantageous foundation at its disposal, regarding its asset, financial and result situation. This will prove in particular to be an advantage in the dynamic market processes. From a shareholders’ perspective, the positive figures led not only to an increase in profitability, but to a steep rise in the company’s value as well. Key figures at a glance Q4 Q4 Change Jan – Jan – Change 2002 2003 Dec 2002 Dec 2003 Earnings (000s) EUR 11,897 12,786 7.5% 35,413 46,144 30.3% Expenditures (000s) EUR 6,920 7,942 14.8% 20,593 24,412 18.5% Income from Ordinary EUR 4,977 4,843 -2.7% 14,820 21,732 46.6% Activities (000s) Net Income (000s) EUR 2,539 2,598 2.3% 8,422 11,870 40.9% Cash Flow (000s) EUR 3,512 3,822 8.8% 10,069 10,449 43.5% Earnings per EUR 0.51 0.51 0.5% 2.06 2.34 13.8% Share (DVFA/SG) Return on Equity % 32.4 40.9 26.5% 32.4 40.9 26.5% before Taxes Bearer no-par shares share 5,008 5,100 1.9% 4,085 5,062 23.9% (000s) (DVFA / SG) All figures preliminary EUWAX Aktiengesellschaft, Stuttgart Thomas Krotz (CFO) Tel.: + 49 (0)711 222989-360 eMail: investor.relations@euwax-ag.de end of ad-hoc-announcement (c)DGAP 12.02.2004 ——————————————————————————– WKN: 566010; ISIN: DE0005660104; Index: Listed: Amtlicher Markt in München und Stuttgart; Freiverkehr in Düsseldorf, Frankfurt und Hamburg; Xetra 121536 Feb 04