euro adhoc: AvW INVEST AG / AvW Invest AG: Very good 1st half 2004 (E)

Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.

The AvW presents good results for the 1st half 2004. The company prepares its financial statements in accordance with IAS and observes the accounting standards applicable to banks.

In EUR million 1st half 2004 1st half 2003 increase in % Operating profit 2.216 1.303 70 % Profit on ordinary activities before tax 2.024 0.940 115 % Net income over the year 1.334 0.609 119 % Workforce 150 114 31 % Earnings per share in EUR 0.44 0.20 120 %

Business development
Compared to the prior year, the AvW Group increased operating income to a total of EUR 3.092 million (2003: EUR 2.270 million) in all three business segments - financial services, equity investments and real estate. The balance sheet rose to EUR 19.860 million (2003: EUR 18.363 million). At EUR 0.885 million (2003: EUR 0.917 million), operating expenses remained at a stable level. Compared to the prior year the net income over the year for the 1st half 2004 rose by 119%, earnings per share rose by 120%. The strong growth trend in the financial services segment and the investment business segment continued.

In the investment business sector the company will continue to focus its investments on listed small and mid caps in Austria and Germany. In the financial services segment the company recruits continuously top qualified finance consultancies in Austria and Germany.

AvW’s ordinary shares (AVWI.VI) are listed on the Vienna stock exchange ATX Prime Market, the AvW preference shares (AVWI_p.VI) are listed on the Auction Market.

The 1st half 2004 report is published on our homepage at

Further inquiry note:
Mag. Alexandra Anthofer
Tel: +43(0)4229 3621
FAX: +43(0)4229 2386

end of announcement euro adhoc

Emittent: AvW INVEST AG
Hauptstraße 118
AT-9201 Krumpendorf
Tel: +43(0)4229 3621
FAX: +43(0)4229 2386
ISIN: AT0000930409
WKN: 093040
Börsen: official dealing Wiener Börse AG; free trade Baden-Württembergische Wertpapierbörse, Frankfurter Wertpapierbörse Branche: Financial & Business Services
Sprache: Englisch