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Lisse, the Netherlands
September 24, 2004
New capital for Swets & Zeitlinger
- EUR 45 million new capital for Swets & Zeitlinger
- Investments in e-services to further strengthen business
- 2003 accounts approved
Royal Swets & Zeitlinger Holding NV announced today that it will strengthen
its share capital by EUR 45 million. The shares will be privately placed
with existing shareholders, including NPM Capital and Cobepa. The funds will
be used to accelerate investments in e-services, strengthen the balance
sheet and provide a financially stable basis both for the coming renewal
season and for the long-term future. Furthermore, the company has agreed a
multi-year credit facility of EUR 150 million with ABN AMRO and ING, which
will guarantee prepayments of clients.
Paul de Bruin, Chairman of the Supervisory Board, said:
"The capital injection of EUR 45 million by the shareholders is a clear vote
of confidence in the company. We will accelerate our investments in
e-services and we will also use these funds to restructure the company as
part of our continuous drive to improve efficiency."
Roelof Prins, Managing Director of NPM Capital, said:
"We have a lot of faith in the prospects of this company, which has a track
record of more than a hundred years. With this capital injection, we
strongly believe that Swets & Zeitlinger will also prosper in the coming
years."
At today's shareholders meeting the 2003 annual accounts were approved.
Swets & Zeitlinger recorded sales of EUR 986 million, an operating profit of
EUR 8.5 million and a net loss after exceptional items of EUR 11.0 million.
The net result excluding one-off items of EUR 18.2 million was EUR 7.3
million.
About Royal Swets & Zeitlinger
Royal Swets & Zeitlinger Holding NV is an international information group,
with over 1,200 employees in 23 countries. Headquartered in Lisse, the
Netherlands, Swets & Zeitlinger is a leading print and electronic service
provider of scientific and professional information for the academic,
corporate and governmental markets. Swets & Zeitlinger's activities are
incorporated in the following divisions: Extenza, Swets Information
Services, Swets Backsets Service and Swets Farrington Document Systems.
Media Contact
Marianne Sassen
Communication Manager
Swets Information Services
P.O. Box 830
2160 SZ Lisse, the Netherlands
T +31 (0)252 435 389
F +31 (0)252 415 888
E [log in to unmask]
www.swets.com
