029 Group SE

Earnings Release • Mar 28, 2001

News Details

Ad-hoc | 28 March 2001 07:01

Ad hoc-Service: Ges. f. Network Training english

Ad hoc announcement transmitted by DGAP. The issuer has the sole responsibility of this announcement. ——————————————————————————– Surge in sales and significant improvement in earnings in the fiscal year 2000 GFN achieves EBITDA turnaround Stuttgart, 28 March 2001. With a surge in sales to DM 77.3 million (previous year: DM 32.7 million) GFN AG consolidated its position on the German IT qualification market in the fiscal year 2000. Earnings before interest, taxes, depreciation and amortization (EBITDA) were boosted by DM 7.3 million to plus DM 2.2 million (previous year: DM -5.1 million). Alongside the turnaround in EBITDA, the company also improved the results of its ordinary business activities to minus DM 6.5 million (previous year: DM -9.9 million) and the net loss for the year to minus DM 7.5 million (previous year: DM -9.5 million). In the last quarter of the year 2000 GFN increased its liquid assets by DM 1.5 to DM 16 million. On the balance sheet date, the Group reported 228 employees on its payroll (previous year: 219). The growth in sales is due in part to the impact of the first-time full consolidation of companies acquired by the Group at the end of 1999; however, GFN also reported internal growth. Operating results were depressed by goodwill amortization of DM 5.1 million and startup investments in ac@demy of DM 2.4 million. Excluding these special factors, the GFN Group generated positive operating results of around one million deutschmarks. The GFN Group intends to reinforce its sales activities and expand its markets in the course of the current fiscal year. Conservative estimates envisage sales growing to over DM 80 million and a further increase in EBITDA. end of ad hoc announcement, (c) DGAP 28.03.2001 ——————————————————————————– WKN: 587980; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München, Hannover und Stuttgart 280701 Mär 01