Ad-hoc | 27 August 2002 08:20

DEWB AG english

At 113 million euros, DEWB maintains investments at high level. Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– At 113 million euros, DEWB maintains investments at high level. No investment sales in the first six months. Company therefore posts a negative operating result (EBIT). Target to achieve a positive EBIT for 2002 as a whole. DEWB AG (Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft) has made further investment in its investment portfolio during the first six months of 2002. 10.3 million euros flowed into existing investment holdings in the form of milestone payments and into the two new investment holdings Dr. Gottschall INSTRUCTION GmbH based in Ludwigshafen and Laser Finishing Center (LFC) AG from Herzogenaurach. The amount of capital invested, comprising the book values of the VC investments and the securities of the listed investment holdings, increased by 4.2% compared with 31.12.2001, to 113.4 million euros. During the first six months of 2002 DEWB AG recorded sales of 0.7 million euros (previous year: 37.8 million euros). The sharp fall by comparison with the same period in the previous year can be explained by a change in the sales structure. Whereas sales of shares in the quoted firm of CyBio AG were realised in the first half of 2001, DEWB did not generate any exit sales in the first half of 2002. Instead, sales were realised exclusively through services. DEWB posted an EBIT of minus 6.2 million euros (previous year: 29.0 million euros). This figure includes value adjustments to the corporate portfolio in the sum of 4.4 million euros which mainly result from the sharp decline in share prices of the quoted companies over the past months. The company posted a period result of minus 8.1 million euros for the first half of 2002. The negative financial result of minus 1.9 million euros, essentially attributable to a value adjustment to the financial assets, also contributed to this period result. DEWB remains cautiously optimistic of also being able to post a positive EBIT in 2002 despite the difficult market conditions, providing the company succeeds in achieving the corporate sales for which currently intensive preparation are made, providing that the equities market will come back to the level of early 2002 and we see a return to improved economic prospects. 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 27.08.2002 ——————————————————————————– WKN: 804100; ISIN: DE0008041005; Index: Listed: Amtlicher Markt in Berlin und Frankfurt 270820 Aug 02