Schloss Wachenheim AG - Konzern


Ad-hoc-bulletin: Sektkellerei Schloss Wachenheim pays dividends

Tuesday, 30. November 2004

Eight EUR-cents per share distributed / shareholders to receive an extra bonus following the successful IPO of Polish subsidiary Ambra

Wachenheim, November 24, 2004. Sektkellerei Schloss Wachenheim AG intends to distribute a dividend of eight EUR-cents per share for the 2003/2004 (June 30) business year. As group headquarters announced after today's supervisory board meeting, the board of directors and the supervisory board will propose the step at the general meeting of shareholders on February 16, 2005. Hence, the dividend will be somewhat lower than last year's. Since more than 50 million EUR was spent on acquisitions in France and eastern Europe last year, the world's leading producer of sparkling wine (annual production of 200 million bottles) would rather retain a larger share of the group's year-end profits this year. However, Board Chairmen Nick Reh promised the holders of all 7.92 million shares an additional bonus, if the IPO of Polish subsidiary Ambra in the Spring of 2005 is successful.

A pleasing first quarter
Sektkellerei Schloss Wachenheim AG Group enterprises was able to further improve their profitable efficiency during the first quarter of the new business year 2004/2005. Earnings before interest and taxes expanded by 103.8 percent to 3.4 million EUR (following 1.7 million EUR in the same period last year. Sales revenues dropped as planned by 16.3 percent to 59.7 million EUR (same period last year: 71.3 million EUR). That decline was solely attributable to the group's abandonment of the unprofitable vodka sector in Poland; all other sectors were able to increase their revenues.

Group profit-and-loss statement in millions of for the 1st quarter (July 1 through September 30, 2004)

Sales revenues
59.7 71.3
Gross yield 22.9 22.1
EBITDA 5.2 3.4
EBIT 3.4 1.7
Net profit 1.2 0.2

The board of directors is anticipating total revenues of 330 million EUR and an annual net profit of 10 million EUR for the full current business year.

Higher annual net profit in 2003/04
The past business year 2003/04 brought the group total revenues of 370.1 million EUR and an annual net profit of 5.8 million EUR. Hence, the board of directors saw their prior prediction of 5.3 million EUR surpassed a considerable margin.

At a press conference in Frankfurt/Main scheduled for early February, the board of directors will report on the first half of the current business year (ending December 31, 2004) and elucidate the prospects for Ambra's initial public offering and a number of other projects.