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Preussag: Strong growth in results during financial year 1999-2000

Preussag<.> AG closed financial year 1999-2000 ending 30 September 2000 with excellent results…

Preussag<.> AG closed financial year 1999-2000 ending 30 September 2000 with excellent results, the management board informed the supervisory board. The results of the divisions again showed strong gains. The development of recent years is marked by a steady growth in results, said Dr. Michael Frenzel, Preussag AG chief executive officer. The Group`s result for the year just ended fit in with the positive series.



Dr. Frenzel`s recommendation to the supervisory board is for an unchanged high dividend of around 77 cents per share certificate, representing a dividend payment of 30 percent on the registered capital. The Preussag supervisory board is due to consider the recommendation when it meets on 29 March 2001.



The financial year just ended was marked above all by strengthening our position in the European tourism market. The acquisition of Thomson Travel Group and our interest in Nouvelles Frontieres means Preussag is now the leading tourism group in Europe and worldwide, said Dr. Frenzel.



External turnover in the financial year just ended on 30 September 2000 is anticipated to be approximately Euro 22 billion, with around 80,000 employees. Tourism is expected to account for around 50 percent of the turnover figure. The continued focus on tourism will raise this share to more like 80 percent by financial year 2002.

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