Realtech AG

Earnings Release • Feb 10, 2003

News Details

Ad-hoc | 10 February 2003 07:00

realTech AG english

REALTECH AG: Provisional annual figures for 2002 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– REALTECH AG: Provisional annual figures for 2002 ·Revenues up slightly to EUR 57m ·45% increase in software solutions ·4% drop in consulting ·Net income positive for first time since 1999 ·Boost in cash flow and net cash and cash equivalents Walldorf, February 10, 2003. According to its provisional figures, REALTECH AG recorded a slight increase in sales in fiscal year 2002 to EUR 57.0m (2001: EUR 56.5m). Sales in software solutions increased by 45% to EUR 8.6m (EUR 5.9m). This can mainly be attributed to the fact that sales and distribution activities have been intensified throughout the Group. In the technology consulting division, which was affected by price pressure and falling demand, revenues amounted to EUR 48.4m, which constitutes a 4% drop compared to the previous year (EUR 50.6m). Provisional earnings before interest, taxes, and depreciation (EBITDA) reached EUR 4.9m (EUR 5.4m), while the provisional operating result (EBIT) amounted to EUR 1.9m (EUR 1.8m). With a positive interest balance (EUR 0.6m), a currency translation loss (EUR 0.2m), and tax expenses (EUR 1.9m), net income is expected to be EUR 0.3m (minus EUR 2.1m), making it positive again for the first time since 1999. This results in provisional earnings per share of EUR 0.06 (compared to minus EUR 0.42). In 2002, REALTECH recorded a cash flow of EUR 4.3m following EUR 0.8m in the previous year. Net cash and cash equivalents at the end of December were EUR 16.6m, up 6% on last year`s figure of EUR 15.7m. 4th quarter of 2002: Provisional sales in the 4th quarter fell to EUR 13.9m (from EUR 15.5m in the fourth quarter of 2001). This includes an increase in software sales to EUR 2.5m (EUR 1.8m) and a decrease in the area of consulting to EUR 11.4m (EUR 13.7m). Provisional EBITDA, at EUR 1.7m, is on a par with the previous year’s figure, while EBIT improved to EUR 1.0m (compared to EUR 0.7m). On January 1, 2003 REALTECH AG (SID 700890) was admitted to Deutsche Börse AG`s new “Prime Standard” segment. REALTECH is scheduled to publish its final consolidated financial statements for fiscal year 2002 on March 20, 2003. Contact person: Volker Hensel, Investor Relations REALTECH AG, 69190 Walldorf, Tel.: +49 6227 837 500, Fax: +49 6227 837 434 end of ad-hoc-announcement (c)DGAP 10.02.2003 ——————————————————————————– WKN: 700890; ISIN: DE0007008906; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard), Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München und Stuttgart 100700 Feb 03