Ad-hoc | 24 October 2002 18:13

AC-Service AG english

Charges For Bad Debt Provisions On Claims Against Bäurer Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Charges For Bad Debt Provisions On Claims Against Bäurer Charge of some EUR 0.4 million for discontinued business division. 9-month results underscore favorable business development. Stuttgart, 24 October 2002 Both as a precaution, and as a result of the board of Bäurer AG, Hufingen, having filed for provisional insolvency protection on 23 October 2002, AC-Service has made provisions covering all of the residual debt due from Bäurer. The charge involved in this increase in doubtful debt provisions in 3rd quarter 2002 is about EUR 0.4 million (before taxes). These residual accounts receivable arose after the transfer of the “Distribution Solutions” business division to Bäurer AG that was agreed to in October 2000. The “Distribution Solutions” division has been carried separately as a “discontinuing operation” in AC-Service’s financial reporting (IAS) since 3rd quarter 2000. A pre-tax capital gain of EUR 6.5 million was reported for this transaction in the 2000 annual financial statements. AC-Service, as an IT service provider, has been focusing on high-quality outsourcing and consulting services since the sale of the “Distribution Solutions” division. The preliminary 9-month sales of EUR 37.1 million (prior year EUR 34.3 million) and the preliminary 9-month EBIT of EUR 2.1 million (EUR 1.0 million) for the continuing operations simply reconfirms the steady and positive way the business has been performing over the past 7 quarters. More details will be disclosed when the 3rd Quarter 2002 Report is released on 13 November 2002. Additional information available on the Internet at http://www.ac-service.com end of ad-hoc-announcement (c)DGAP 24.10.2002 ——————————————————————————– WKN: 511000; ISIN: DE0005110001; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München, Hannover und Stuttgart 241813 Okt 02