Softline AG

Earnings Release • Jun 12, 2001

News Details

Ad-hoc | 12 June 2001 08:31

Softline AG english

Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Softline doubles turnover despite tough industry climate Offenburg, June 12, 2001: (Neuer Markt SFD GR). Based on preliminary figures as of end of May, the Softline Group expects to reach annual turnover of approximately EUR 85m in the current fiscal year 2000/ 2001 (30 June). With an increase of 102 percent compared with the previous period (full year 2000: EUR 42.0m), the European software marketing firm has more than doubled its turnover. Due to market conditions in the current quarter and as a consequence of the weak industry climate, the original sales forecast of EUR 100m will prove unattainable. On the profit and loss side, Softline is likely to end the 2000/ 2001 fiscal year with an EBIT (US-GAAP) of between EUR -2.5m and EUR -3.0m. Net loss for the year is expected to be between EUR 3.5m and EUR 4.0m, mainly resulting out of goodwill depreciations of acquired companies and deferred taxes relating to the IPO, only a small part is effecting liquidity. Furthermore, stable cash reserves account for EUR 29m. The current market conditions, which have deteriorated, make forecasting for the 2001/2002 fiscal year difficult. The management of the Softline Group has already taken appropriate measures for the long-term: the introduction and launch of new products, the development of new licence models for large key accounts, and the entry into new territories through acquisitions in the European markets, and opening new branch offices abroad. Besides the package of long-term measures, marketing activities intensified in the short term are also designed to stimulate sales. end of ad hoc announcement (c) DGAP 12.06.2001 ——————————————————————————– WKN: 720600; Index: Listed: Neuer Markt in Frankfurt, Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 120831 Jun 01