Knorr Capital Partner AG
Knorr Capital Partner AG english
Knorr Capital Partner posts positive results for the first nine months of 2001
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Munich, November 12, 2001 – Despite the continued weakness of the overall
market, which has disproportionately affected the venture capital industry,
Knorr Capital Partner AG (SIN: 768612) has succeeded in generating EUR 73.5
million in revenues (previous year: 44.5 million) and positive earnings of EUR
8.75 million (previous year: EUR 9.97 million) over the last nine months.
The Company posted earnings of EUR 1.17 per share (previous year: EUR 1.38 per
share) even though the Company’s post-tax profit margin – at 11% of overall
revenues (previous year: 22.4%) – declined. Due to the continued weakness in the
market, the Company made significant structural adjustments with regard to
locations, consulting capacity, and overhead costs. The Management Board expects
annual earnings per share to exceed EUR 2.00. Factors impacting earnings
include, on one hand, the planned tax-free sale of foreign investments in the
fourth quarter, and, on the other hand, the positive effects from converting the
annual financial statements and the Company’s accounting policies to conform to
the stricter U.S. GAAP guidelines for investment companies (Investment Company
Act). The Company already expects to see a positive effect on overall earnings
in the double digit millions (of euros).
In light of the tax reduction scheduled to take effect on January 1, 2002, sales
of interests in German companies, scheduled for the end of this year, will be
postponed until next year to the extent possible in the interests of maximizing
shareholder value.
Contact Person:
Karsten Busche
Investor Relations
KNORR CAPITAL PARTNER AG
Rückertstraße 1, 80336 Munich
Phone: +49 (0) 89 54 35 6-0
Fax: +49 (0) 89 54 35 6-333
E-mail: info@knorrcapital.com
Internet: www.knorrcapital.com
end of ad-hoc-announcement (c)DGAP 12.11.2001
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WKN: 768612; Index: SDax
Listed: Amtlicher Handel in Frankfurt (SMAX), München; Freiverkehr in Berlin,
Düsseldorf, Hamburg, Stuttgart
120617 Nov 01
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