Ad-hoc | 24 April 2002 08:29

Vivanco Gruppe AG english

Vivanco heading back into the black in 2002 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Vivanco heading back into the black in 2002 Economic recovery expected in 2nd half-year – cost programme brings tangible relief Vivanco Gruppe AG, Ahrensburg, is once again aiming for a balanced result in the current 2002 financial year. In general, thanks to restructuring already underway and extensive cost measures, a clearly positive EBIT should be achieved with almost unchanged turnover of around 170 million euro. A “black zero” is planned for the net profit for the year. Following a restrained 1st half-year the economic recovery expected for the 2nd half-year will lead to a tangible surge in growth which, due in particular to a strong 4th quarter, will ensure that the year’s targets are achieved. The restructuring programme extended at the end of 2001 has already reduced the cost burden in 2002 by around 5.0 million euro. In the 2001 financial year, Vivanco achieved a turnover increase of 1.5% to 170.8 (168.3) million euro according to final figures. In a declining market (minus 10% in the 3rd and 4th quarters) sales fell short of the previous year and plan, particularly in the 4th quarter. Overall, the Group was able to compensate for the decrease in domestic sales of around 8% with the continued dynamic growth abroad (+15%). Foreign business (turnover share increase from 41 to 46%) is already profitable and is set to grow progressively in the coming years. The short-fall in gross margin of around 7 million euro from low turnover led to a slightly negative operational EBIT before special burdens of -0.2 (- 0.6) million euro. Overall, in particular due to special burdens of 6.4 million euro from restructuring, a net loss for the year of 8.8 (8.3) million euro emerged. Ahrensburg, 24th April 2002 end of ad-hoc-announcement (c)DGAP 24.04.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: In classical consumer electronics, Vivanco succeeded in placing new high-end ranges, taking advantage of the sales boom in DVD players and the trend towards surround systems and higher-quality colour TVs. Taken as a whole, at 79.4 million euro, turnover was retained at the previous year’s level (market minus 3.8%). In contrast, the TC segment saw a decrease in turnover of around 10% to 28.5 million euro (market minus 16%). In Christmas business alone, sales of mobile telephones were around 50% lower than the previous year. Losses were felt particularly in the prepaid segment, whose share of the mobile telephone volume fell from 59% to 33%. The reception technology segment noted a slight decrease to 21.7 million euro. The strongest growth in 2001 was achieved by the IT segment with more than 20% (organic 12%) to 41.2 million euro (market minus 8%). The most important growth driver, beside the foreign markets, was the new, completely modified computer accessories range. Vivanco will present the detailed year-end financial statements today, Wednesday, at 5 pm, during a DVFA Conference of Analysts in Frankfurt (in the Commerzbank building). ——————————————————————————– WKN: 760290; ISIN: DE0007602906; Index: SDAX Listed: Amtlicher Handel in Frankfurt (SMAX); Freiverkehr in Berlin, Düsseldorf, Hamburg, München und Stuttgart 240829 Apr 02