Panamax AG

Earnings Release • May 15, 2002

News Details

Ad-hoc | 15 May 2002 08:02

Pandatel AG english

The first quarter of 2002: PANDATEL unrolling the Asia-Pacific market Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– The first quarter of 2002: PANDATEL unrolling the Asia-Pacific market – Strong demand for new multiplexer Hamburg, May 15, 2002. PANDATEL AG, the specialist in fiber-optic and copper- based network access and data-transmission technology, reported a year-on-year increase in sales and earnings before tax (EBT) in the first quarter of 2002. Sales rose by 3.1% to EUR 7.1 million, while EBT climbed to EUR 1.1 million, up from EUR 0.9 million. With a share of just over 50%, the Europe, Middle East, Africa (EMEA) region was the most important market. However, the greatest increase was achieved in the Americas, where sales surged from EUR 0.7 million to almost EUR 1.4 million. In Asia (sales of EUR 2.1 million, down from EUR 3.4 million in the same period one year earlier), order receipts point to a rebound in growth for the rest of the year: over the past few months, PANDATEL’s Asia- Pacific subsidiary has signed supply contracts with key customers in China and Hong Kong and also opened up new markets in Sri Lanka and Vietnam. Consolidated order receipts rose to EUR 9.6 million (up from EUR 9.1 million), with order books increasing in value by 6.4% to EUR 5.0 million. Operating earnings improved from EUR 0.2 million to EUR 0.7 million, exceeding the interest income of EUR 0.4 million (2001: EUR 0.5 million). With an equity ratio of 92% and liquidity of EUR 13.8 million, the Company’s balance-sheet structure will ensure its continued success in spite of difficult market conditions. There is strong demand for PANDATEL’s new fiber-optic multiplexer, the FOMUX 500, testifying to the substantial potential offered by such small flexible solutions at the moment. Large telecommunications companies and carriers are increasingly expressing interest in partnerships and in outsourcing niche products. PANDATEL offers such products which these companies cannot viably develop themselves. Higher order receipts in spite of the contraction in the overall network infrastructure market testify to the virtues of this strategy. The full quarterly report is available at www.pandatel.com. Fore more information please contact: Dietlinde Bamberger, Investor Relations // Tel.: +49-40-64414-244 // Fax: +49 40-64414-108 // E-Mail: ir@pandatel.com end of ad-hoc-announcement (c)DGAP 15.05.2002 ——————————————————————————– WKN: 691630; ISIN: DE0006916307; Index: NEMAX 50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 150802 Mai 02