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CVG, Gem.Bez. News



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 Thursday May 10 2001
Crown Van Gelder expects slight profit in first half of 2001
At the Annual General Meeting held on 10 May 2001, Dr K. Schaafsma, Managing Director of Crown Van Gelder Papierfabrieken N.V., presented and accounted for the company's results for 2000. He then went on to consider forecasts for 2001. Based on the developments to date, he stated that the figures for the first half year are expected to show a slight profit.

Friday February 2 2001
Crown Van Gelder unable to find partner
Crown Van Gelder has been looking for a partner in vain for the past year. Crown Van Velder is not in a hurry but merger mediation costs are accumulating and the company also incurred a loss of EUR 1.1 mln in 2000, on a net profit of Fl 12.3m in 1999. The paper factory is small in comparison with Scandinavian counterparts but is not worried about being left behind in the consolidation process.

Wednesday August 2 2000
CVG first-half profit plunges
Crown Van Gelder reported on Wednesday net profit for the first-half of 1999 plunged to EUR 1.1 mln, compared with a net profit of EUR 3.9 mln for the first-half of 1999. Operating income fell from EUR 5.4 mln to EUR 1.0 mln. Turnover increased from EUR 54 mln to EUR 74 mln.

Friday March 17 2000
Crown Van Gelder issues profit warning
Crown Van Gelder (CVG) issued a profit warning on Friday, saying that continuing pressure on sales margins due to higher cellulose prices would result in poor results for the first half of this year. CVG said that results for the first-half of this year would fall compared to the EUR 3.9 mln the company booked for the first-half of 1999. The company sees an improvement for the second-half of the year. CVG said it is thinking about cost reductions.

Monday February 21 2000
Crown Van Gelder to axe 60 jobs
Crown Van Gelder is to axe some 60 of the 344 jobs in a move to improve the company's profitability and to make it more attractive as a take over candidate. In January, at the presentation of its annual results, the company said it was looking for a partner.

Thursday January 27 2000
CVG net profit down 42%
Crown Van Gelder reported on Thursday net profit for 1999 fell 42% to EUR 5.6 mln, compared with net profit of EUR 9.7 mln the company booked in the comparible period of 1998. Turnover decreased 6% from EUR 120.6 mln to EUR 113.8 mln. Operating income fell 48% from EUR 14.5 mln to EUR 7.6 mln. Earnings per share for 1999 fell 42% to EUR 1.25, compared with earnings per share of EUR 2.17 for 1998.

Wednesday August 4 1999
CVG H1 net profit down 35%
Crown van Gelder reported on Wednesday net profit for the first-half of 1999 fell 35% to NLG 8.7 mln, compared with net profit of NLG 13.3 mln the company booked in the comparible period of 1998. Excluding an extra-ordinary income of NLG 1.7 mln, net profit for the first-half of 1999 fell 47% to NLG 7.0 mln.

Thursday May 6 1999
Crown Van Gelder expects lower H1 profit
Grown Van Gelder (CVG) said on Thursday that it expects net profit for the first-half of this year will fall below the NLG 13.3 mln the company booked for the first-half of 1998, but would exceed the NLG 8.1 mln CVG booked for the second-half of 1998. CVG said decreasing economic growth and the surplus of paper from Asia put paper prices under pressure. Also the company faced technical problems with new installations.

Thursday January 28 1999
CVG net profit up 6%
Crown Van Gelder reported on Thursday net profit for 1998 increased 6% to NLG 21.4 mln, compared with net profit of NLG 20.1 mln the company booked in the comparible period of 1997. Turnover increased 1% from NLG 263.4 mln to NLG 265.8 mln. Operating income increased 10% from NLG 29.1 mln to NLG 31.9 mln.

Thursday October 8 1998
Crown van Gelders cancels shares
Crown van Gelder is to write off 335,000 of its own shares at the end of 1998, equivalent to 7% of the total share capital. The write off follows a secondary placement of shares in March 1998, through which investment company Maaspoort sold its stake in the paper firm, including 335,000 shares to Crown van Gelder itself. The cancellation will have a positive effect on earnings per share.

Wednesday August 5 1998
CVG reports H1 net profit up 21%
Crown van Gelder (CVG) reports net profit for the first-half of 1998 increased with 21% to NLG 13.3 mln or NLG 2.78 per share, compared with NLG 11.0 mln or NLG 2.30 per share the company booked in the first-half of 1997. Turnover increased with 10% from NLG 130 mln to NLG 143 mln. Operating income rose by 24% to NLG 19.9 mln, compared with NLG 16.0 mln for the 1997 first-half.

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