Preliminary Results of the Seat Pagine Gialle Group at 31 December 2001

02/12/2002 - 00:00 PM

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REVENUES AND GROSS OPERATING PROFIT INCREASED
- Revenues amount to almost EUR 2 billion (+2%)
- Gross operating profit amounts to EUR 440 million (+20%)

Upon invitation of Managing Director Paolo Dal Pino, the Board of Directors of Seat Pagine Gialle, chaired by Enrico Bondi, met today to examine the Group’s preliminary data for the financial year ended 31 December 2001.

- Consolidated preliminary results amount to approximately EUR 1,950 million, up about 2% compared to the previous year, given the same consolidation area.
- Gross operating profit exceeds EUR 440 million. On a uniform basis, it increased by over 20% compared to the previous year. The operating profit showed a comparable growth, reaching EUR 220 million before goodwill amortisation (approximately EUR 192 million).
- Consolidated non-recurring charges net of fiscal benefits exceed EUR 230 million and include write-down of goodwill, shareholdings and other assets, and extraordinary charges for business reorganization. These charges are have no financial impact.
- Net financial indebtedness is approximately EUR 922 million.

The final results for 2001 are subject to the approval of the next Board Meeting to be held on March 25th 2002.


Board Meetings scheduled for 2002 are as follows:

Board Meetings Schedule for 2002

- 25 March 2002
Board of Directors: Approval of the Annual Report Draft and of the Consolidated Annual Report Draft for the year ended 31 December 2001. Seat will exercise the rights granted by Art. 82, paragraph 2, of Consob resolution No. 11971/99 (with subsequent amendments and riders), and instead of issuing the quarterly report for the period October-December 2001, a draft of the annual report and the consolidated annual report for the year ended 31 December 2001 will be made available to the public within 90 days from the end of the financial year.

- 30 April 2002 – 3 May 2002
Shareholders’ Meeting for the approval of the financial statements (first and second call)

- 6 May 2002
Board of Directors: Approval of the first quarterly report (January – March 2002)

- 4 September 2002
Board of Directors: Approval of the half-year report (January-June 2002). The afore-mentioned report will be made available to the public by September 13 2002. Therefore, as per Art. 82 of Consob resolution No. 11971/99 (and subsequent amendments and riders) the quarterly report for the second quarter of 2002 will not be drawn up.

- 6 November 2002
Board of Directors: Approval of the third quarter report (July – September 2002)

- 11 December 2002
Board of Directors


Should any of these dates be changed, immediate communication will be given.