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Dico Int. News



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 Thursday August 10 2000
Dico H1 loss EUR 1.2 mln
Dico announced on Thursday a net loss of EUR 1.2 mln for the first-half of 2000, compared with a net loss of EUR 1.3 mln for the first-half of 1999. The company booked turnover of EUR 15.5 mln, compared with EUR 16.9 mln in the first-half of 1999.

Wednesday September 8 1999
Dico H1 net loss EUR 1.3
Dico announced on Wednesday a net loss of EUR 1.3 mln for the first-half of 1999, compared with a net loss of EUR 0.5 mln for the first-half of 1998. Turnover decreased with 28% from EUR 23.7 mln to EUR 16.9 mln. Operating result came to a loss of EUR 1.8 mln, compared with a modest operating profit of EUR 79,000 for the first-half of 1998. Solvancy ratio came to 46.8%. For full-year 1999 the company expects red figures. Management expects Dico to become profitable again in 2000.

Friday May 21 1999
German setbacks hits Dico
Dico, the Uden-based bedroom furniture manufacturer, reported 1998 net losses of NLG 4.1 mln on turnover of NLG 96 mln yesterday. Management said it expects further losses in the 1999 first half. The losses were attributed to production problems, which resulted in a reduction in orders from Germany. Dico traditionally earns 20% of its turnover from the German market, but the figure fell to 10% last year. Dico expects to overcome the production problems in the second half of this year.

Thursday April 29 1999
Manaus takes over Dico
Venture capital firm Manaus of Amsterdam is to take over Dico for around NLG 19 mln. Manaus has already acquired a majority shareholding in Dico. Dico has been suffering from disappointing financial results for years and has long been seeking a 'strategic partner'. Manaus will not acquire all Dico's shares.

Monday March 22 1999
Dico plunges into the red
Dico reported on Monday a net loss for 1998 of NLG 4.1 mln, compared with net profit of NLG 1.5 mln the company booked in the comparible period of 1997. Turnover decreased 6% from NLG 102.6 mln to NLG 96.4 mln. The company booked an operating loss of NLG 3.1 mln, compared with operating income of NLG 2.2 mln for 1997. Per share the company booked a loss of NLG 9.25, compared with earnings per share of NLG 3.36 for 1997. Management declined to give a forecast for this year.

Friday January 29 1999
Dico expects NLG 4 mln loss for 1998
Dico expects to book a loss of NLG 4 mln for 1998. In August of last year Dico expected to limit the damage to NLG 1.5 mln. Dico is searching for a 'strategic partner' to improve its market position. Dico said restructuring costs were higher than expected. The company's factory could not meet the higher demand for beds and had to face efficiency losses. Also savings by concentrating the company's logistics were lower than expected.

Monday January 25 1999
Dico in takeover talks
Dico said on Monday it is in talks with a number of serious parties on a possible takeover. Dico said it expects negotiations to be completed within several months. Ahead of possible takeovers, shareholder/supervisory board member R.Draijer has stepped down to avoid 'possible conflicts of interest'. R.Draijer has increased its stake in Dico from 11% to 25% last year.

Thursday August 27 1998
Dico H1 net loss NLG 1.0 mln
Dico reported on Thursday losses for the first-half of 1998 of NLG 1.0 mln, compared with net profit of NLG 0.6 mln the company booked in the comparible period of 1997. Dico blamed falling sales in Germany and Asia. However, turnover increased 5% from NLG 49.9 mln to NLG 52.3 mln. Dico expects full-year losses of between NLG 1 mln and NLG 1.5 mln, adding it will concentrate on own-design steel beds.

Wednesday March 18 1998
Dico reports net profit up 36%
Dico reports net profit for 1997 increased with 36% from NLG 1.1 mln to NLG 1.5 mln. Turnover rose 6.9% from NLG 95.9 mln to NLG 102.6 mln. Corrected for foreign exchange effects, sales edged 1.3% higher. Operating result remained flat at NLG 2.2 mln. The bedroom furniture market showed marginal improvement in most of Europe last year, except in Germany where a drop in consumer spending pressured Dico's sales.

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