Strength emphasized - Moksel Annual General Meeting

Moksel continues to rely on partnership - expansion of self-service and convenience planned - 2004 got off to a good start

At this year's Annual General Meeting of A. Moksel AG, the Chairman of the Board, Dr. Uwe Tillmann, the focus is on the strength of the company: "With the intensification of cooperation within the new organizational structure of the Bestmeat Group and the consistent use of synergy potential, Moksel has reached a new dimension. We have a healthy foundation and are well prepared for the Future."

In the 2003 reporting year, the Moksel Group had an annual surplus of EUR 8,4 million (2002: EUR 7,2 million) after servicing the debtor warrant of EUR 9,37 million (2002: EUR 0,25 million). achieved. The company also got off to a good start in the current 2004 financial year. With sales at the previous year's level, Moksel expects earnings after taxes of EUR 3,0 million for the first half of the year (first half of 1: EUR 2003 million).

Accordingly, in his speech to the shareholders, Tillmann confirmed the goals for the year as a whole: "In 2004 we will continue to consistently follow the path we have taken. The strong group of companies also offers us new sales channels and growth opportunities in international business, which we will take advantage of. As a company in the meat industry, Moksel is currently also under considerable pressure on margins as a result of the renewed intensified price war in the food retail sector. Based on the developments to date, we therefore expect earnings for the year as a whole to be at the previous year's level".

Growth strategy for self-service and convenience

At the same time, Tillmann announced the continuation of the growth strategy for self-service and convenience: "We will expand this area in the long term and make appropriate investments. We already have a lot of experience in our operations and can learn a lot from our sister companies in the future Opportunities for active strategic growth.The capital required in this context is on the agenda of the Annual General Meeting and is to be created in the form of authorized capital of EUR 28,7 million.With an equity ratio of 15,2 percent and an authorized capital of around EUR 57 million, we now have fundamentally good prerequisites for future investments."

Moksel expects a plus of EUR 3,0 million for the first half of the year - target level of earnings for the full year as in 2003

According to initial estimates, after a strong first quarter, the Moksel Group once again asserted itself in the market environment in the second quarter of 2004. Despite the high pressure on margins, the company achieved better results than in the first half of 2003.

According to preliminary figures, Moksel expects a half-yearly result after tax for the group, which at EUR 3,0 million is slightly above the previous year (EUR 2,0 million). The turnover of the Moksel Group is estimated at around EUR 877 million and thus at the previous year's level (previous year EUR 874,9 million).

Earnings after taxes are expected for A. Moksel AG, which will be slightly positive at EUR 1,1 million (2003: EUR 35). Turnover is estimated at EUR 73,1 million compared to EUR 70,4 million in the same period of 2003.

The slaughtering of around 240.000 cattle (2003: 232.000) and 1,2 million pigs (2003: 1,2 million) continued at a high level.

Forecast for 2004 as a whole

On the basis of the development to date and the market which is increasingly under pressure, the Management Board assumes that a similar level of operating earnings as in 2003 will be achieved for the current year with a slight increase in sales.

Source: Buchloe [ moksel ]