Schloss Wachenheim AG - Konzern


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Ad-hoc bulletin: 2003/2004 business year: Sektkellerei Schloss Wachenheim triples profits

Tuesday, 21. September 2004

5.3 million EUR as group (year-end) profits following 1.8 million EUR the previous year / revenues drop to 370.1 million EUR as expected due to concentration on core business / next jump in earnings to 10 million EUR predicted for 2004/2005

5.3 million EUR as group (year-end) profits following 1.8 million EUR the previous year / revenues drop to 370.1 million EUR as expected due to concentration on core business / next jump in earnings to 10 million EUR predicted for 2004/2005

Wachenheim, September 21, 2004. The past business year 2003/2004 (ending June 30) saw the Schloss Wachenheim Group nearly triple their annual net profit. According to preliminary calculations, pre-tax profits rose to 5.3 million EUR after 1.8 million EUR the year before. As expected, gross revenues dropped to 370.1 million EUR (previous year: 403.8 million EUR) due to the group's abandonment of the unprofitable vodka sector in Poland, coupled with range adjustments and price increases on the home market. While the latter did yield lower turnover figures, the profit margin improved considerably as a result. After 106.0 million EUR in 2002/2003, the group's gross yield remained effectively stable at 106.1 million EUR. However, earnings per share of Schloss Wachenheim AG stock rose from 0.02 EUR to 0.59 EUR.

This year, too, one of our main goals will be to further increase our return on investment. The board of directors is anticipating proceeds of 330 million EUR an annual net profit on the order of 10 million EUR. Earnings per share will increase beyond 1.0 EUR. The planned jump in earnings will result primarily from our takeover of the Charles Volner sparkling-wine label (market leader in France), our ongoing development of business in eastern Europe (without vodka), and the end of "corporate surgery" regarding marketing, logistics, product range and human resources in Germany.

Group profit-and-loss statement in millions of EUR

2003/2004
2002/2003
Sales revenues 370.1 403.8
Gross yield
106.1 106,0
Group (year-end) profits 5.3 1.8
Earnings per share 0.59 EUR
0.02 EUR

The board of directors will announce further details regarding the past business year at the financial presentation press conference in Frankfurt on November 16, 2004.



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