ce CONSUMER ELECTRONIC AG
ce Consumer Electronic AG english
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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ce CONSUMER ELECTRONIC AG: Terrorist Attacks in the U.S. have huge impacts on
US-Business
– Terrorist attacks lead to profit- and sales losses in high-margin US chip
brokerage
– Revenue forecast for fiscal 2001 remains unchanged at 700 mio. DEM
– Despite negative one-time effects, positive cashflow and positive EBITDA still
expected for fiscal 2001
– Market analysts foresee dramatic increase in demand for chips already in 2002
– Shortterm shortage in the semiconductor market possible due to 20 billion US
Dollars military program by U.S. government
Munich, October 1,2001. The recovery of the US Semiconductor market that was
visible in August and the start of September came to a halt due to terrorist
attacks on September 11. The US business of chip-brokerage and distribution
group ce CONSUMER ELECTRONIC AG, Munich, could not avoid the decrease of
macroeconomic activities as well as the significant logistic problems caused by
temporary cancellation of all flights. The tragic events brought the US
activities – which had contributed to 84 percent of total Group business during
the first half of Fiscal 2001 – to a short term halt. The high-margin chip
brokerage business has been most affected by the downswing. ce CONSUMER
ELECTRONIC AG initiates an aggressive cost reduction program. However, the
company is very confident for the coming Fiscal year 2002, layoffs are not
planned. Due to the profit and sales deficits accumulated since September 11
compared to the original plan as well as due to the prospective negative
influences of the attacks on recovery of the US chip market, the company has to
revise its profit forecast for fiscal year 2001. While the sales minimum of 700
Mio. DEM as forecasted in May will still be reached, the forecasted EBIT margin
of 1.8 percentage points cannot be upheld due to the present developments in the
U.S.. Inspite of the remaining uncertainties regarding the global economy ce
CONSUMER ELECTRONIC AG still expects a positive cash flow and a positive EBITDA
(Earnings before Interest, Tax, Depreciation and Amortization).
end of ad-hoc-announcement (c)DGAP 01.10.2001
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
At the same time, leading market research institutes are predicting a growth in
the global chip market of up to 20 percent for 2002. In the wake of the
announced special subsidy and military anti-terror programs planned with a
volume of 20 billion US Dollars, this growth may lead to dramatic chip shortages
possibly influencing company results positively ahead of time. In the long
term, the world-wide investments in various security and communication
technologies will result in an increased demand in communication and memory
chips.
ce CONSUMER ELECTRONIC AG is better positioned than ever to disproportionately
profit from the prognosed market increase starting from the US and – above all –
from the expected shortage-business in the semiconductor market. The company’s
goal still is and remains to become the global market leader in chip-brokerage.
ce CONSUMER ELECTRONIC AG will release a detailed report covering the first nine
months of fiscal 2001 on November 13, 2001. This will be accompanied by a
conference call which will also be transmitted live on the Internet. For details
see http://www.consumer.de .
End of press release
After the successful closing of the acquisition of chip broker and IT-
distributor SND Electronics Inc., USA, effective August 29, 2001 ce CONSUMER
ELECTRONIC AG (http://www.consumer.de) advanced to second largest chip broker
world-wide. In fiscal 2000 revenues were DEM 556 million. For the first half of
fiscal 2001, which ended June 30, the company showed revenues of DEM 433
million. The group has subsidiaries in Europe as well as in the US, Latin
America, Japan, Hong Kong and Australia. As of June 30, 2001 ce-Group counted
428 employees.
Contact at ce CONSUMER ELECTRONIC AG:
Maximilian Fischer
Head of Investor Relations
& Financial Communications
Tel.: +49 (89) 9971 1900
Fax: +49 (89) 9971 1010
maximilian.fischer@consumer.de
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WKN: 508220; Index: NEMAX 50
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
010823 Okt 01