13.02.2004 – 10:11

d+s europe AG

euro adhoc: d+s online AG
d+s online AG: Unaudited Results for 2003 Confirm Turnaround (E)

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

Hamburg, Feb. 13, 2004. Unaudited results for financial 2003 show
that d+s online AG (ISIN DE0005336804 / WKN 533680) has achieved the
announced turnaround with consolidated earnings showing considerable
improvement. EBITDA improved from a negative EUR 9.1 million for 2002
to EUR 0.4 million, which marks the first time d+s online ended year
with positive EBITDA since the company’s IPO in 2000, and EBIT was up
EUR 10.6 million to a negative EUR 4.6 million. Although up 4.3% to
EUR 43.4 million, revenues failed to completely meet expectations,
which made this improvement in earnings all the more impressive. As a
result, d+s online achieved the improvement of EUR 10 million in
operating results forecast in early 2003.

The significant improvement in operating results was achieved through
consistent implementation of all of the measures to reorganize d+s
online AG that were introduced by the chairman of the Management
Board. Important contributory factors in this context included
personnel restructuring, increased efficiency and improved production
controls, reduction in expenditure and outside services, elimination
of unprofitable business and adjustment of the rate of expansion as a
function of the economic environment.

Without taking into account the effects of acquisitions, management
expects a two-digit increase in revenues for the year 2004, as was
the case in the years 2000 through 2002, as well as further
improvement of EUR 4 million to EUR 5 million in operating EBIT. As a
result, positive per-share earnings before amortization of goodwill
are expected for the first time. Taking into account the effect of
acquisitions planned for the year, earnings before amortization of
goodwill are expected to improve by EUR 0.50 to EUR 0.55 per share
over 2003, which will represent EUR 0.10 to EUR 0.15 per share.
Earnings are then expected to increase by another EUR 0.10 to EUR
0.20 per share in financial 2005.

d+s online AG is listed in the Prime Standard and with 1,600
employees ranks among Germany’s largest outsourcing providers in the
areas of CRM, communication center and telemarketing. The company
operates communication centers eight locations in Germany.

end of announcement        euro adhoc 13.02.2004

Further inquiry note:

d+s online AG, Investor Relations, Henning Soltau, Tel.: +49
(0)40/4114-3542

Branche: Media
ISIN: DE0005336804
WKN: 533680
Index: CDAX, Classic All Share, Prime All Share, Prime Standard
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Niedersächsische Börse zu Hannover / free trade
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Hamburger Wertpapierbörse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade