Nemetschek SE

Earnings Release • Jun 11, 2002

News Details

Ad-hoc | 11 June 2002 08:07

Nemetschek AG english

Nemetschek AG Steps Up Restructuring Measures Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Nemetschek AG Steps Up Restructuring Measures Munich, June 11, 2002. The Nemetschek Group, a leading vendor of software and consulting services in the design, construction and management of buildings and real estate is suffering from the unexpected worsening of the economic and structural crisis in the German building industry and the continued reluctance to invest in the IT sector. While sales revenue in Q1 (ending March 31) was still within expectations, the results so far in Q2 suggest that sales in fiscal 2002 will probably only amount to EUR 105 to 110 million as opposed to the planned EUR 120 million. Instead of an EBIT of EUR 5 million, the company now expects to achieve a balanced result. The managing board has decided to react to the ongoing difficult situation in the building industry and IT sector with a second round of the restructuring program that was initiated in 2001. The aim will be to significantly reduce all fixed costs among others in all areas of the company. This will also involve a reduction in personnel of more than 100 employees. Nemetschek had a payroll of about 1,000 employees at the end of 2001. Owing to the restructuring expenses that these measures will entail, a significant reduction in costs is only expected for fiscal 2003. Since mid-2001, Nemetschek has been implementing fundamental restructuring measures to bring the Group back on course. The initial successes were already evident in the past year and the first quarter of 2002, but these were overshadowed by the ongoing crisis in the building industry. The managing board is confident that the process of further intensifying restructuring activities will have a positive impact in fiscal 2003: With sales at this year’s level, the company expects to return to profitability. For additional information, contact: Investor Relations, Mr. Richard Höll Nemetschek AG Konrad-Zuse-Platz 1, 81829 Munich, Germany. Phone +49 (0)89/9 27 93-1219 Fax +49 (0)89/9 27 93-5520 Investorrelations@nemetschek.de end of ad-hoc-announcement (c)DGAP 11.06.2002 ——————————————————————————– WKN: 645290; ISIN: DE0006452907; Index: Listed: Neuer Markt Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 110807 Jun 02