Ad-hoc | 25 February 2003 08:49

DO & CO Rest. & Cater. english

First three quarters 2002/2003 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Business results for the first three quarters of 02/03 (APRIL to DECEMBER 02) SALES +2.8 % , EBITDA + 2.1 %, EBIT + 0.6 %; DO & CO grows continuously and improves results despite tough economic conditions DO & CO recorded sales of EUR 75.33 mio, an increase of 2.8% on the same period of the PY (EUR 73.28 mio). The EBIT rose by a slight EUR 0.02 mio, or 0.6%, in the first three quarters of 02/03 to EUR 3.17 mio (PY: EUR 3.15 mio). Following the 9.4% decline in EBIT in the first half year, the positive trend is also reflected in the stabilized EBIT margin of 4.2% (PY: 4.3%). The EBITDA margin was maintained at 10.5%, the same high level as PY. AIRLINE CATERING – sales were, as expected, somewhat lower decreasing by EUR 0.98 mio, or 2.8%, from EUR 34.93 mio to EUR 33.95 mio. Despite ongoing changes in the aviation industry, DO & CO offset virtually the entire downslide in sales of the previous two quarters (-8.0%) by adding new customers to its airline clientele. The international broadening of customer structure increased EBITDA by EUR 0.19 mio, or 7.1%, from EUR 2.67 mio to EUR 2.86 mio. EBIT grew by EUR 0.38 mio to EUR 0.49 mio (PY: EUR 0.11 mio), improving the EBIT margin from the PY’s 0.3% to 1.4% in the first three quarters of 02/03. INTERNATIONAL EVENT CATERING – achieved an improvement compared to mid-year (- 11.5%), with sales of EUR 25.43 mio (PY: EUR 27.60 mio), yet still recorded a decline of EUR 2.17 mio, or 7.9%. EBITDA totaled EUR 3.92 mio, which represents a slight decline of EUR 0.32 mio from the PY’s figure of EUR 4.24 mio. The EBIT margin remained stable at 8.9% (PY: 9.0%) despite the decrease in EBIT (from EUR 2.49 mio to EUR 2.26 mio). RESTAURANTS & BARS – recorded sales growth of EUR 5.20 mio, or 48.4%, to EUR 15.95 mio (PY: EUR 10.75 mio). This improvement is attributable to the division’s success in maintaining its high utilization of capacity at existing restaurants and the inclusion of Demel. EBITDA in the division improved by EUR 0.29 mio, or 35.4%, while EBIT fell by EUR 0.13 mio, or 23.6%, to EUR 0.42 mio because of increased depreciation arising from the acquisition of Demel. For further information: http://www.doco.com/investor.htm end of ad-hoc-announcement (c)DGAP 25.02.2003 ——————————————————————————– WKN: 081880; ISIN: AT0000818802; Index: Listed: Amtlicher Handel in Wien 250849 Feb 03