euro adhoc: AvW INVEST AG
1st Half of 2002 (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
AvW INVEST AG prepares its financial statements in accordance with International Accounting Standards (IAS) and observes the accounting proposals applicable to banks. "~" in EUR million 1-6/2002 1-6/2001* Operating income 1,720 1,684 Operating profit 0,979 0,879 profit on ordinary activities before tax 0,778 0,120 Net income over the period 0,218 0,060 Operating expenses 0,647 0,718 Workforce (30.06.) 98 79 *new presentation according to IAS "~" Market situation of the AvW Group During the 1st half of 2002, the Group realised significantly more income within its core business operation of financial services. Proceeds from our financial services businees totalled EUR 1,511 million. In the equity investment business, a media company in Germany was taken over. Slight growth was reported in the real estate business. The expected improvement in the economic situation of the AvW Group has led to a significant increase in operating income in the financial services business, so that in comparison with the same period during the previous year, the operating profit, profit on ordinary activities and net income over the period have all increased significantly, and operating expenses have been reduced.
Outlook Progress in financial services business remains positive, so that we can expect good operating income within our core business operation. In the real estate and equity investment business, purchases are being made when favourable opportunities arise. We are investigating a new real estate project involving an investment in a water exploitation company and the purchase of water sources.
end of announcement euro adhoc 20.08.2002
Further inquiry note:
Frau Helga Caldera
Branche: Financial & Business Services
ISIN: AT0000930409
WKN: 093040
Index: Prime.market
Börsen: Baden-Württembergische Wertpapierbörse / free trade
Frankfurter Wertpapierbörse / free trade
Wiener Börse AG / official dealing