Ad-hoc | 22 May 2002 07:46

DEWB AG english

DEWB increases its investment volume to 114 million euros Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– DEWB increases its investment volume to 114 million euros No disposals of corporate shareholdings during the first three months. EBIT and net income just in the red. Significant exits affecting the result planned for the second half of the year. In the first three months of 2002 DEWB AG (Deutsche Effecten- und Wechsel- Beteiligungsgesellschaft) continued to expand its investment portfolio, investing a further 6.4m euros. The flow of funds was in the form of milestone payments to existing investments. The capital invested, which comprises the book values of the Venture Capital investments and the securities of the listed investments, rose by almost 11% as against 31.12.2001, to 114.0m euros. During the first three months of 2002 DEWB AG recorded sales of 0.3m euros (prev. year: 37.4m euros). The sharp fall compared with the same period in the previous year can be explained by a change in the sales structure. Whereas in the first quarter 2001 the company sold the listed shares in CyBio AG, in the first quarter 2002 DEWB did not realise any sales from exits but purely from Post-IPO services. DEWB reported an EBIT of minus 1.4m euros (prev. year: 1.0m euros). This figure already includes value adjustments in the sum of 0.4m euros. For the first three months of 2002 the company posted a period result of 2.9m euros. The negative financial result (minus 1.5m euros), primarily attributable to a value adjustment to the financial assets, also contributed towards this figure. DEWB also aims to generate attractive levels of earnings for its shareholders once again in 2002. The corporate sales required to this end are planned for the second half of the year. In this context, preparations are currently being made for trade sales in particular. As at 31.03.2002 DEWB held 37 VC investments in its portfolio. At the end of the first quarter the two target sectors of opto-electronics and biotechnology accounted for almost 70% of the invested capital. The securities held in listed investments also represent a considerable earnings and cash flow reserve which is available at short notice. The long-term objective is to turn DEWB into the leading VC company concentrating on the German optics sector. Contact: Steffen Schneider, DEWB AG, Investor Relations Telephone / Telefax: ++49 3641 65 22 90 / 65 36 29 E-Mail: steffen.schneider@dewb-vc.com, Internet: http://www.dewb-vc.com end of ad-hoc-announcement (c)DGAP 22.05.2002 ——————————————————————————– WKN: 804100; ISIN: DE0008041005; Index: Listed: Amtlicher Handel in Berlin und Frankfurt 220746 Mai 02