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Ad hoc-announcement edited and sent by DGAP. The sender is solely responsible for the contents of this announcement. -----------------------------------------------------
Augsburg (ots Ad hoc-Service) - The dynamic growth of lebensart global networks AG, quoted on the Prädikatsmarkt Select of the Bavarian Stock Exchange, has further continued in the third quarter of 2000. Turnover in the third quarter of 2000 reached DM 9.45m; almost the same amount as the combined turnover of the first two quarters of this business year (DM 9.62m). The total turnover for the first three quarters of 2000 stands at DM 19.1m, considerably higher than in the same period of the previous year (DM 3.2m). Included in the total figure of DM 19.1m are the presently unaccounted turnovers of both of the company's latest acquisitions: CSS Congress and Sponsorship GmbH and Younger Direct Marketing Inc. Also consolidated for the first time, are the results from ResExpress Inc., of around DM 4.0m. The results of these companies have partly been produced before the actual day of acquisition. The correct accounting of these figures will follow in the end of year accounts on 31st December, 2000.
The EBITDA has developed from DM -7.0m up to 30th June 2000 to DM -8.6m up to 30th September 2000. This clearly indicates the strong decrease in the monthly cover shortage and the approaching break-even.
The EBIT up to 30th September 2000 was DM -10.2m compared to DM -7.6m up to 30th June 2000. The net result was DM -8.5m in contrast to DM -7.83m up to 30th June 2000. The depreciation / write-offs contained in these figures amount to DM 1.6m and mainly consist of depreciation in the company's good will value.
Liquid funds up to 30th September 2000 totalled DM 24.0m, drastically exceeding the amount required to achieve the planned break-even in the middle of 2001. The balance sheet total was DM 83.8m with a capital stock quota of 61%
The Management Board is confident of reaching the planned turnover target of DM 27m for the business year 2000. The target for 2001 of DM 69.0m will also be reconfirmed. lebensart AG's market capitalization, with the current share price of EURO 4.50 (24.10.2000), amounts to a total of DM 61.0m. Therefore, the sales multiple is less than factor one.
Due to the fall in the price of the lebensart share (reflecting the general market slump) and its resulting spectacular undervaluation, the company will make use of its right to acquire its own shares, as outlined in the company charter. The shares purchased will be used as payment for acquisitions.
Contact: lebensart global networks AG Department Investor Relations Daniel E. Adams CFO Stefanie Nützel Director Investor Relations Konrad Adenauer-Allee 35 D - 86150 Augsburg Tel. +49 - 821 - 345 45 50 Fax +49 - 821 - 345 45 59 email@example.com http://www.lebensart-ag.com
End ----------------------------------------------------- Internet: http://recherche.newsaktuell.deOriginal-Content von: Design Hotels AG, übermittelt durch news aktuell