029 Group SE

Earnings Release • May 31, 2001

News Details

Ad-hoc | 31 May 2001 07:01

Ges. f. Network Training english

Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Modest boost in sales for the IT training specialist GFN on target at the end of the first quarter Stuttgart, 31. May 2001. GFN AG reported a modest increase in sales for the first three months of the current fiscal year and was able to sign several important cooperation agreements. With sales up by 4.6 percent to DM 18,3 million (previous year: DM 17.5 million), the IT education and training partner GFN was well on the way to meeting its own targets in what is typically a weak first quarter. In its largest area of business, IT training and continuing professional development, the company realized DM 17.0 million, inclusive of e-Learning, a plus of 6.9 percent (previous year: DM 15.9 million). Of this total, around DM 1.3 million were generated by IT services compared with DM 1.7 million in the same period last year. Results for the first quarter were influenced by the switch to the new Corporate Design and the final integration of the Ditec education centers. Earnings before interest, tax, depreciation and amortization (EBITDA) consequently dropped from DM 0.65 million to DM 0.11 million. Results of ordinary business activities were reported at DM 1.5 million (previous year: DM -1.0 million). At the end of the period GFN had liquid funds of DM 13.2 million On 31 March 2001, the GFN Group employed a workforce of 235 (previous year: 222). compared with 228 at the end of 2000. Personnel expenses rose accordingly from DM 5.8 to DM 6.2 million. Viewing the year as a whole, we aim to further strengthen our market position and reinforce our sales activities. We anticipate an increase in sales to over DM 80 million. We also aim to increase earnings before interest, tax, depreciation and amortization (EBITDA) as a share of sales. end of ad hoc announcement (c) DGAP 31.05.2001 ——————————————————————————– WKN: 587980; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München, Hannover und Stuttgart 310701 Mai 01