DGAP-Ad hoc: Das Werk AG <DE0005412001> english = - 500 Beiträge pro Seite

[ad_hoc [wO]]

Revenue and earnings targets for 2001 will not be met

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Revenue increase of 80% after the first nine months Results affected by economic downturn and exceptional items According to provisional figures for the first nine months of the fiscal year, the companies of Das Werk AG generated revenues of Euro 83 million. In the same period last year this figure stood at Euro 46 million. Earnings before interest, taxes, depreciation, and amortization totaled Euro 9 million (same period 2000: EUR 20.8 million). Cash and cash equivalents as of September 30, 2001, amounted to Euro 11 million; cash flow from operating activities for the first nine months of fiscal 2001 was positive. Consolidated earnings: there were additional charges in Q3 due to exceptional items amounting to around Euro 3.5 million. These include doubtful debts allowances on receivables, write-offs on minority interests as well as accrued liabilities. The under-par result for the group as of September 30, 2001, increased in comparison to the figure posted for the first half. Feature film production: the majority of films will be delivered during the fourth quarter of fiscal 2001. Revenue recognition in connection with the delivery of the Road Movies` production "Ten Minutes Older" (revenue contribution of approx. Euro 6.5 million), initially planned for the current year, will not materialize until 2002. Postproduction: the malaise within Germany`s advertising sector continued in the third quarter. Although September saw a slight upturn in business, revenues fell short of expectations, and the level of pre-Christmas purchases was lower than anticipated. As a result, Q3 earnings within this area will be negative, while earnings for the first nine months will be slightly above par. Outlook: the prevailing uncertainties within the European advertising sector have prompted us to lower our expectations with regard to postproduction activities. In the fourth quarter, CFX, Los Angeles, will feel the ripple effect produced by the terrorist attacks of September 11. The go-ahead for large-scale feature film productions has been delayed. CFX has a sufficient number of orders for 2001 to ensure that the basic level of capacity utilization is met. Based on the figures available at this moment in time, Das Werk AG is not likely to meet its 2001 revenue target of around Euro 160 million. Earnings per share will be significantly lower than last year`s figure. The company has initiated restructuring measures within the area of postproduction. Details regarding the nature and extent of these measures, as well as their likely effect on returns in fiscal 2002, will be announced as part of the Interim Report to be published on November 20, 2001. A separate press release will present the provisional quarterly figures by segments.

Für Rückfragen:

Wolfgang Borgfeld Pressesprecher Das Werk AG

------------------------------------------------------ Das Werk AG Fon: + 49 69 97353 440 Schmidtstr. 12 Fax: + 49 69 97353 442 60326 Frankfurt am Main E-Mail: [e-mail] http://www.das-werk.de

end of ad-hoc-announcement (c)DGAP 02.11.2001 -------------------------------------------------------------------------------- WKN: 541 200; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart

020837 Nov 01

Autor: DGAP import (),08:40 02.11.2001

[trodat2001]

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