Ad-hoc | 29 October 2003 10:47

DEWB AG english

DEWB AG: Quarterly Report on the first nine months of 2003 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– DEWB sales rise to 27.2 million euros. Share sales with clearly positive result. Value adjustments to early-stage investments. Again positive operating result (EBIT). Investments in the sum of 17.1 million euros. Current assets exceed 100 million euros. The DEWB Group (Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft) has realised a number of sales of shares in companies during the first nine months of 2003 and posted a profit on these transactions. The DEWB Group reported sales of 27.2 million euros as at 30.09.2003 (previous year: 1.1 million euros) and generated a result before interest, taxes and depreciation (EBITDA) of 6.6 million euros (previous year: -2.3 million euros). Value adjustments in the sum of 5.7 million euros (previous year: 10.7 million euros), which were applied in particular to several early-stage investments, had a negative effect on the results. DEWB is continuing its conservative approach to valuations at acquisition costs less any necessary and appropriate value adjustments (principle of the lower of cost or market). These measure were taken despite the improved mood on the capital and investment market because corporate valuations remain low by long-term comparison, the caution about the economic outlook is continuing and companies are still very hesitant about investment in plant and machinery that are often important to the operational business of young investment companies in particular. The DEWB Group has recorded an EBIT of 0.9 million euros (previous year: -13.0 million euros) in the first nine months of 2003. After minority interests the DEWB Group posted a negative result for the period in the sum of -0.6 million euros (previous year: -15.5 million euros). As at 30.09.2003 DEWB holds investments in 32 companies. During the course of the first nine months of 2003 a total of 17.1 million euros was invested in the existing portfolio and new investments. The volume of investments amounted to 87.0 million euros as at 30.09.2003 The share sales brought about a rise in liquid assets and receivables, the result of which meant that DEWB’s current assets remained in excess of 100 million euros. Contact: Steffen Schneider, DEWB AG, Investor Relations Phone / Fax: ++49 3641 65 2290 / 65 2157 E-Mail: steffen.schneider@dewb-vc.com, Internet: http://www.dewb-vc.com end of ad-hoc-announcement (c)DGAP 29.10.2003 ——————————————————————————– WKN: 804100; ISIN: DE0008041005; Index: Listed: Amtlicher Markt in Frankfurt (Prime Standard) und Freiverkehr in Stuttgart 291047 Okt 03