euro adhoc: GARANT SCHUH + MODE AG
Restructuring measures impact on
GARANT Groups annual results (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Düsseldorf, April 23, 2004 - In Fiscal 2003 GARANT SCHUH + MODE AG boosted Group turnover to 179.5 m. euro, a rise of 52.9% on last years figure (117.5 m. euro), following acquisition of SALAMANDER SCHUH GmbH. Under IAS, the Groups annual deficit now totals 14.1 m. euro (compared to last years net earnings of 2.8 m. euro). Following adoption of the restructuring concept for SALAMANDER SCHUH GmbH, which was acquired on October 1, 2003, Group results were adversely affected by other one-off provisions of 18 m. euro and by further special bad-debt charges totalling 5.9 m. euro. Following conclusion of the restructuring phase GARANT is confident of achieving positive Group results in Fiscal 2004. The Annual Earnings Press Conference for Fiscal 2003 is scheduled on April 29, 2004.
end of announcement euro adhoc 23.04.2004
Further inquiry note:
Jenny Bleilefens
Investor Relations
Telefon: +49(0)211-3386-311
jbleilefens@garantschuh.com
Branche: Consumer Goods
ISIN: DE0005853030
WKN: 585303
Index: CDAX, Classic All Share, Prime Standard
Börsen: Börse Düsseldorf / official dealing
Frankfurter Wertpapierbörse / official dealing
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Hamburger Wertpapierbörse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Baden-Württembergische Wertpapierbörse / free trade