DCI AG

Earnings Release • Mar 20, 2002

News Details

Ad-hoc | 20 March 2002 08:00

DCI Database english

DCI AG publishes 2001 financial figures Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– DCI AG publishes 2001 financial figures Results align with previously published figures Starnberg, Germany – 20 March 2002. DCI AG today published its figures for the fourth quarter of 2001 and for the year as a whole. Between October and December 2001, company revenue totalled KEuro 4,566. Annual revenue was posted at KEuro 16,114, compared with KEuro 10,624 last year. Taking non-cash write-offs to the value of KEuro 21,543 into account, EBIT amounted to KEuro -48,246 (compared with KEuro -22,165 in 2000), EBITDA accounted for KEuro -19,052 (in 2000: KEuro -18,522). The DCI Group succeeded in further reducing its cash-burn rate thanks to on-going cost-cutting measures. At Euro 5.3 million, cash burn was down on the rates returned for the first, second and third quarters (Euro 8.4 million, Euro 6.4 million and Euro 5.7 million respectively). On 31.12.2001, cash and cash equivalents amounted to Euro 13.9 million, thus providing a secure financial basis for the continuation of the company as a going concern. As part of a rigorous rationalisation program, DCI AG made significant advances in reducing its payroll. Cuts were apparent in particular at company headquarters in Starnberg, where staff numbers were reduced from 169 (31.12.2000) to 60 (31.12.2001). In addition, the Executive Board was reduced from 4 to 2 members in September 2001. The Group also rationalised its subsidiaries’ payrolls and closed its Hanover sales office. Total Group staff increased, however, from 274 (31.12.2000) to 301 due to the acquisition of Berlin-based Medien und Kommunikations GmbH with its 113 employees. Further streamlining measures, such as the merger of the bonitrus AG and TPP GmbH subsidiaries with DCI AG, have also eased the general cost burden. The company again succeeded in reducing its cash burn rate for January (Euro 1.2 million) and February 2002 (Euro 0.9 million) and will continue its efforts in this area over the coming months. The Board expects to reach break-even (EBITDA) on a monthly basis in summer 2002. DCI AG is not financed through third-party loans. end of ad-hoc-announcement (c)DGAP 20.03.2002 ——————————————————————————– WKN: 529 530; ISIN: DE0005295307; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 200800 Mär 02