08.06.2004 – 07:33

ESCADA AG

euro adhoc: ESCADA AG
Quarterly or Semiannual Financial Statements / ESCADA positive trend continues in Q2 2003-04 (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.

Aschheim, June 8, 2004 - The ESCADA Group’s positive business trend
from the first quarter of 2003-04 continued in the second quarter.
Consolidated earnings before interest, taxes, depreciation and
amortization (EBITDA) grew to EUR 11.0 million versus EUR 2.0 million
for the comparable quarter last year. Including EUR 2.1 million
restructuring costs the Group’s after-tax profit before minority
interests was still EUR 0.1 million - an improvement of EUR 5.0
million over the EUR - 4.9 million figure of a year earlier.
Consolidated revenues were up 5.2 % in the second quarter (EUR 157.9
million) (Q2 2002-03: EUR 150.1 million).
The ESCADA Group’s EBITDA for the first half of 2003-04 was EUR 25.0
million (first half of last year: EUR 9.1 million). First-half
after-tax profits before minority interests were EUR 3.2 million
(last year: EUR -7.4 million). Group revenues, at EUR 306.0 million
were approximately in line with the year before (EUR 306.6 million),
or up 3.9 % after adjustments for changes in exchange rates.
First-half revenues for the ESCADA core brand were up 5.1 %, after
adjustments for exchange-rate changes.
The on-going cost-cutting program is well on schedule. Of the total
savings of EUR 40 million projected for 2003-04, EUR 19.7 million was
achieved in the first half.
For fiscal year 2003-04 as a whole, management continues to expect
that Group sales will remain stable on a currency-adjusted basis,
EBITDA will increase significantly, and the Group will show an
after-tax profit.

end of announcement        euro adhoc 08.06.2004

Further inquiry note:

Viona Brandt
Tel.: +49 (0)89 9944 1336
E-Mail: viona.brandt@de.escada.com

Branche: Clothing
ISIN: DE0005692107
WKN: 569210
Index: CDAX, Classic All Share, Prime All Share, Prime Standard, SDAX
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