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Distefora posts big losses

Alexander Falk, chief executive of Distefora Keystone

The Swiss-based Internet technology group, Distefora, has revealed big losses for 2000 despite an earnings boost from the sale of its ISION unit.

This content was published on May 23, 2001 - 10:23

The company's operating loss came in at SFr143.1 million ($80.6 million)in 2000, compared to a loss of SFr24.1 million in 1999. The consolidated net loss was SFr31.2 million after a profit of SFr8.2 million in the previous year.

Distefora said in a statement that its total asset value had increased to SFr559.2 million from SFr253.5 million due to strategic acquisitions and the ISION sale.

It said it would use much of its available liquidity to further its expansion and proposed paying a dividend of SFr63.6 per bearer share while also studying a capital reduction.

The group, headed by German investor Alexander Falk, has interests including Internet services, media content, navigation technology and cable television.

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