Scholz & Friends AG announces positive results in 2004

Turnover at Scholz & Friends AG rose from € 64.6 million (2003) to € 76.9 million in 2004. During 2004 the Scholz & Friends agency network acquired numerous new accounts – including the clients Ideal Standard, Siemens, Masterfoods, Nike and AOL. At the same time, the Scholz & Friends Group was able to increase the size of its staff from about 830 to approximately 870 last year (including non-consolidated offices).

The Board of Directors at Scholz & Friends AG regards these results as positive and is satisfied by the implemented growth strategy over the past years. The operating figures of Scholz & Friends AG demonstrate that the corporate strategy which has been pursued for two years now and the measures to increase efficiency initiated in the past have begun to bear fruit. In 2003, the Group opened a Swiss subsidiary in Zurich and closed the gap in Europe’s German-speaking region. The formation of Scholz & Friends Zьrich was followed during 2004 by a Scholz & Friends subsidiary in Stockholm to develop the Scandinavian market. The new Stockholm office got off to a flying start. At the beginning of the year 2004 the international network strengthened its presence in France with a minority shares acquisition in the Paris agency Ailleurs Exactement, following this up with a cooperation agreement in Italy with the Casiraghi&Greco agency. The Scholz & Friends Group will press ahead with its expansionist policy and broaden its position as Europe’s only ownermanaged agency network. In the pursuit of its objectives, Scholz & Friends will keep on focusing on strengthening its international network.

In July 2003, the Scholz & Friends Group succeeded in becoming the first international agency network in Europe to take the step to independence by means of a management buy-out with the help of the financial investor, Electra Europe. Today 13 executives from Scholz & Friends hold interests in the Group. The international agency network will in future continue to pursue the implemented growth strategy and make even greater efforts to expand its presence in Europe. Scholz & Friends is internationally represented by about 870 employees in 19 countries today.

Known as “The Orchestra of Ideas”, the Scholz & Friends Group offers the entire spectrum of communications instruments in addition to classic advertising. The expansion and intensification of this comprehensive portfolio of specialized communications fields will be continued on the German core market and internationally in the future.