Business development at Libro impacts six-months profits of Deutsche Beteiligungs AG (Paragraph 15 WpHG)
Frankfurt am Main, July 3, 2001. The Board of Management of Deutsche Beteiligungs AG has announced that the pre-tax profit for the 2000/2001 financial year will clearly fall short of that of the previous year (1999/2000: 43.014 million euros). In view of the extremely weak market environment for new issues, plans to exit investments through public offerings have not been realizable. Currently, the company cannot exclude ending the 2000/2001 financial year with only slightly positive earnings.
Annual earnings of Deutsche Beteiligungs AG are regularly determined by only a few individual transactions: the company's earnings forecast for the current year included a significant contribution from the sale of its investment in Lignum Technologie AG. Following the decision to postpone the public offering for Lignum Technologie AG until further notice, this contribution to earnings will not be available this financial year.
In light of investors' momentary "strike", which has even hit quality companies such as Lignum AG, the family partners and the bank consortium agreed to refrain from the public offering for the time being. Deutsche Beteiligungs AG announced it is not prepared to aspire a stock market listing for a successful, strongly growing and perspective company such as Lignum Technologie AG at any price.
Based on its present portfolio and the potential inherent in Andritz AG and Global Power Equipment Group Inc. which have just recently been listed, the Board of Management feels confident that the company will continue the excellent profit performance exhibited in the past this coming financial year.
For more information, contact: Thomas Franke, head of Public Relationst und Investor Relations,
Emil-von-Behring-Strasse 2, 60439 Frankfurt am Main,
Tel. +49 69/9 57 87-3 07, email@example.com