029 Group SE

Annual / Quarterly Financial Statement • Feb 22, 2001

News Details

Ad-hoc | 22 February 2001 07:29

Ad hoc-Service: Brainpower N.V. 2. Teil

Ad hoc-announcement edited and sent by DGAP. The sender is responsible for the contents of this announcement. —————————————————————————— BRAINPOWER NV CONSOLIDATED PROFIT & LOSS Three months Twelve months ended December 31, ended December 31, 2000 1999 2000 1999 EUR EUR EUR EUR (audited) Revenues 1.254.950 459.584 3.630.864 1.608.187 Cost of revenues 139.059 37.419 540.811 149.674 ——— ——— ——— ——— Gross profit 1.115.891 422.165 3.090.053 1.458.513 Operating expenses Sales and marketing 830.620 425.394 2.522.924 1.448.845 Research and development 605.931 64.301 1.183.768 237.547 General and administrative 793.064 283.587 2.324.483 1.155.569 ——— ——— ——— ——— Total operating expenses 2.229.615 773.282 6.031.175 2.841.961 ——— ——— ——— ——— Operating loss before (1.113.725) (351.117) (2.941.122) (1.383.448 depreciation Depreciation and amortisation 426.180 110.960 928.116 424.479 ——— ——— ——— ——— Operating loss after (1.539.905) (462.077) (3.869.238) (1.807.927) depreciation Other (expenses), net 252.344 (42.746) 65.103 (131.898) ——— ——— ——— ——— Loss before income taxes (1.287.561) (504.823) (3.804.135) (1.939.825) and minority interest Income taxes 13.033 3.711 0 12.729 ——— ——— ——— ——— Loss before minority (1.300.594) (508.534) (3.804.135) (1.952.554) interest Minority interest – (106) 0 (424) ——— ——— ——— ——— Net loss (1.300.594) (508.640) (3.804.135) (1.952.978) BRAINPOWER N.V. CONSOLIDATED BALANCE SHEET December 31, 2000 1999 EUR EUR (audited) ASSETS Current Assets: Cash and cash equivalents 25.274.374 110.587 Accounts receivable, net 1.144.600 263.873 Prepaid and other assets 398.319 165.169 ———- ——— Total current assets 26.817.293 539.629 Non-Current Asset: Receivables from related parties and employees 327.224 45.792 Tangible assets 428.605 233.864 Capitalized software 455.208 266.714 Goodwill 1.153.912 223.924 Other assets 245.112 151.966 ———- ——— Total non-current assets 2.610.061 922.260 ———- ——— TOTAL ASSETS 29.427.354 1.461.889 LIABILITIES AND SHAREHOLDERS’ EQUITY (DEFICIT) Current Liabilities: Trade accounts payable 640.373 227.805 Accrued expenses 876.146 600.456 Deferred revenue 839.179 0 Borrowings under bank line of credit 627.166 993.464 ———- ——— Total current liabilities 2.982.864 1.821.725 Long-term debt – 902.563 Ordinary shares; EUR0.05 par value,18,151,209 shares 723.842 556.150 authorized, 14,476,842 and 11,123,000 shares issued and outstanding at December 31, 2000 and 1999, respectively Share premium 33.390.591 2.052.932 Foreign currency translation adjustment (17.998) (23.671) Accumulated deficit (7.651.945) (3.847.810) ———- ——— Total shareholders’ equity (deficit) 26.444.490 (1.262.399) ———- ——— TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY DEFICIT 29.427.354 1.461.889 End of Message