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ESSANELLE HAIR GROUP presents half-year figures
Earnings targets for full year cannot be attained
As a result of the ongoing weakness of the economy and the extremely reserved stance being taken by consumers the second quarter has not met with the expectations of the ESSANELLE HAIR GROUP. Sales revenues rose by around 1,7% to 58.4 million euros, following on from a figure of 57.4 million euros for the first half of 2001. As the cost structures at the company were geared towards higher sales revenues, this result has had a clear impact on earnings. Thus the EBITDA, which had been 2.3 million euros in the first half of 2001, was 1.7 million euros for the same period in 2002. The EBIT amounts to -1.9 million euros, compared to -1 million euros in the same period for the previous year, and earnings before taxes decreased from -2.1 million euros to -2.6 million euros.
Given the ongoing weakness in the first months of the third quarter, the target of a balanced result before taxes for the year as a whole cannot be attained. The company assumes, however, that it can improve its earnings over the previous year, thanks also to the measures adopted at the beginning of the year. A precise forecast of earnings for the 2002 financial year as a whole is not possible against the background of the uncertainty surrounding developments in the retail trade and the service sector - developments which impact on the company's performance.
Contact:
Haubrok Investor Relations
Michael Müller/Julia Lange
+49-21 56-49 65 195
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