Ad-hoc | 1 March 2001 07:32

Ad hoc-Service: Vivanco Gruppe AG english

Ad-hoc announcement precessed and sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Changes on the Board of Management Vivanco Gruppe AG with turnover increase in 2000 in excess of plan Annual shortfall due to special effects Ahrensburg, 01.03.2001; the Supervisory Board of Vivanco Aktiengesellschaft has appointed Board Member Board Christoph von Guionneau (44) Chairman of the Company’s Board of Management. The former Chairman Elard Raben (49) has resigned for health reasons. Raben, whose family is the majority shareholder in the Company, has been unable to perform his duties fully since autumn last year due to ill health. He will move to the Supervisory Board and continue to serve the Company closely in an advisory capacity. Board member Hans-Joachim Egermann (49) has left the Company. At the same time, Vivanco Gruppe AG, one of Europe’s leading suppliers of IT and telecom accessories, has announced its business figures for 2000: Vivanco succeeded in increasing turnover by 33.6 % to 329.4 million DM (1999: 246.7 million DM) and hence in achieving its turnover target. Organic growth generated 65 % of this increase. Despite the extraordinary financial burdens of sales input amounting to 20.9 million DM due to the greatly increased US dollar, the impact of which could only be partly cushioned by a reduction in procurement costs and an increase in prices, Vivanco achieved a positive operating result of 3.4 million DM before tax. Nevertheless, as a result of special burdens, an annual shortfall of 17.4 million DM emerges. This was due, amongst other things, to non-recurring effects such as value adjustments amounting to 8.8 million DM in connection with involvement in the now insolvent company boeder Holding GmbH and a reserve to hedge against the dollar exchange rate in 2001 totalling 4.5 million DM. Working in collaboration with the consultants Roland Berger a concept for the restructuring of the Company over the next two years has been worked out. This has created the conditions required to cope with future growth and to bring about a clear increase in efficiency within the Group. In 2000, restructuring costs have amounted to 5.5 million DM. For the 2001 fiscal year the Company is striving for turnover growth to over 360 million DM. The operating result will once again be in excess of 10 million DM before tax as effective measures have been taken to counter the extreme burden caused by the increase in the dollar exchange rate. Due to continuation of the restructuring in 2001 mentioned above, however, net income for the year of only 2-3 million DM after tax is expected. For the years 2002 and 2003 the realignment of the Company will produce an increase in the operating result and the net income for the year will once again rise disproportionately in relation to turnover. Andreas Villavicencio-Margheri Investor Relations Manager end of Ad hoc-announcement, (c) DGAP 01.03.2001 ———————————————————————– WKN: 760290; Index: SMAX Listed: Amtlicher Handel in Frankfurt; Freiverkehr in Berlin, Düsseldorf, Hamburg, München und Stuttgart 010732 Mär 01