Panamax AG

Earnings Release • Mar 15, 2002

News Details

Ad-hoc | 15 March 2002 07:58

Pandatel AG english

PANDATEL forecasting revenues of approx. EUR 35 million for 2002 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– PANDATEL forecasting revenues of approx. EUR 35 million for 2002 Dividend of EUR 0.14 per share planned for 2001 Hamburg. Listed in the Neuer Markt segment of the Frankfurt stock exchange, PANDATEL AG (ISIN DE 000 691 630 7), a specialist in fiber-optic and copper- based network access and transmission technology, will be asking its shareholders to approve a dividend of EUR 0.14 per share at their annual general meeting scheduled for May 30, 2002. As already reported, the Company posted net income of EUR 2.3 million on revenues of EUR 30.6 million last year. Thus, as in the previous year, PANDATEL will be giving its shareholders a share in its success by paying out one third of its net income as calculated pursuant to German GAAP. Cash flow came to EUR 3.3 million, thereby also exceeding revised forecasts. Operating cash flow rose for the second consecutive year from minus EUR 3.4 million in 1999 to minus EUR 0.25 million in 2000, entering positive territory in 2001 at EUR 3.95 million. Total assets are valued at EUR 57.4 million, i.e. almost on a par with the previous year. The forecasts for this year provide for revenues of EUR 35 million, representing an almost 15% rise over the previous year. Given the continued rise in global data volumes in spite of the sustained general economic downswing, the time for carriers and telecommunications companies to start investing again is approaching. According to estimates, capital spending will rebound as of the third quarter of 2002. Regionally, the Company expects to see the relatively strongest increase in capital spending in Central Asia. Accordingly, the newly created office in Shanghai, which acts as a bridgehead for the most important Asian market of China, looks set to offer above-average opportunities. Recent orders from Eastern Europe also point to a strong upward trend in these countries communications industries. However, the Companys guidance for this year is based on conservative growth rates reflecting the principles of cautious management. For more information, please contact: PANDATEL AG, Fasanenweg 25, 22145 Hamburg, Germany // Henrik Förderer, CEO, tel. +49-40-644 14-0 // Dietlinde Bamberger, Investor Relations, tel. +49-40-644 14-244, fax +49-40-644 5792, ir@pandatel.com // www.pandatel.com end of ad-hoc-announcement (c)DGAP 15.03.2002 ——————————————————————————– WKN: 691630; ISIN: DE0006916307; Index: NEMAX 50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 150758 Mär 02