CeoTronics AG

Earnings Release • Jan 14, 2004

News Details

Ad-hoc | 14 January 2004 19:36

Half-yearly report of CeoTronics Group as of November 30, 2003

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Half-yearly report of CeoTronics Group as of November 30, 2003 EBITDA up 119% / EBIT improves by Euro126 thousand / cash flow jumps 173% / order backlog up 58% / own expectations exceeded CeoTronics AG Audio Video Data Communication, listed in the Prime Standard (ISIN: DE0005407407) recorded a year-on-year drop in consolidated revenues of 5.9%, from Euro6,309 thousand to Euro5,935 thousand, in the first six months of fiscal year 2003/2004. This was a result of the extremely poor health of some sectors of the global economy and the financial situation of public-sector customers. EBITDA, i.e., Earnings Before Interest, Taxes, and goodwill Amortization (impairment), rose by Euro33 thousand, from Euro168 thousand in the first six months of the previous year to Euro201 thousand. EBIT, i.e., Earnings Before Interest, Taxes improved by Euro126 thousand, from Euro -138 thousand to Euro-14 thousand in the same period. The net loss after tax decreased by Euro161 thousand, from Euro-257 thousand in the year-ago period to Euro-96 thousand. Gross cash flow increased in the reporting period by Euro85 thousand, from Euro49 thousand to Euro134 thousand as against the first six months of the prior-year period. Earnings (loss) per share rose to -0.04 cents as against -0.12 cents in the prior-year period. Consolidated equity amounted to Euro9,494 thousand at the end of the six-month period, and the equity ratio was 66.5% (previous year: 67%). As of November 30, 2003, the order backlog was up 58% year-on-year. The number of employees fell by 2 to 124 as against the prior-year period. A comparison of results in Q2 2003/2004 with Q2 2002/2003 shows a drop in consolidated revenues of 11.4%, from Euro3,818 thousand to Euro3,384 thousand and that EBITDA rose by Euro76 thousand, from Euro275 thousand to Euro351 thousand, and that EBIT increased by Euro114 thousand, from Euro125 thousand to Euro239 thousand. Net income after tax rose by Euro118 thousand quarter-on- quarter, from Euro57 thousand to Euro175 thousand. Gross cash flow increased by Euro288 thousand quarter-on-quarter, from Euro-154 thousand to Euro134 thousand. Quarterly earnings per share rose to 0.08 cents as against 0.03 cents in the prior-year period. end of ad-hoc-announcement (c)DGAP 14.01.2004 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Despite special factors, such as one-time workforce restructuring costs, earnings recorded an improvement over the year-ago period. Excluding these special factors, we would actually have exceeded the satisfactory prior-year period earnings by an even greater margin. The consolidated EBITDA, EBIT, net income for the year, and cash flow figures for the first six months, as well as the order backlog, have exceeded our expectations. “We are satisfied with the results of operations in light of the macroeconomic environment and believe that revenues and earnings will improve even more in the coming quarters, driven by the high order backlog as of November 9, 2003 (up 268%), the high level of offer volumes, the tenders that will soon be awarded, the marketing campaign for new products and systems, and the recovering European economy,” explained Chairman Thomas H. Günther, who also confirmed the targets for fiscal 2003/2004: “Revenues in excess of Euro13 million and earnings in the positive lower six-digit range.” Additional information: CeoTronics AG Audio Video Data Communication Investor Relations, Adam-Opel-Strasse 6, 63322 Rödermark, Germany Tel: +49(0)6074/8751-722, Fax: +49(0)6074/8751-720 E-Mail: vorstand@ceotronics.com, Internet: http://www.ceotronics.com ——————————————————————————– WKN: 540740; ISIN: DE0005407407; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Düsseldorf, Hamburg, Hannover, München und Stuttgart 141936 Jän 04