adesso SE

Earnings Release • Apr 4, 2005

News Details

Ad-hoc | 4 April 2005 11:00

BOV AG publishes its figures for the 2004 fiscal year

Ad hoc announcement §15 WpHG Accounts fiscal year 2004 BOV AG publishes its figures for the 2004 fiscal year Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— BOV AG managed to further improve earnings despite a fall in total ouput of 9% to EUR 17,805 thousand in 2004. In this way, the earnings before depreciation, amortization, interest and tax (EBITDA) improved from EUR -3,412 thousand in 2003 to EUR -966 thousand in 2004. The consolidated net result amounts to EUR -2,879 thousand in 2004 compared to EUR -14,126 thousand in 2003. Taking into account the unplanned cancellation of a non-performing project in Switzerland leading to a single cost position well above EUR 2,000 thousand in 2004, the positive results of the restructuring programme become clearly visible. All cost positions within materials, personnel expenses and operating expenses were cut-back in a higher proportion compared to the decrease of total output. Total output per employee has again been increased and hit the EUR 100 thousand for the first time. The reported net loss originates completely within the first half year. The second half year finished with a small profit. With a downward change in cash and cash equivalents of EUR -2,598 thousand these resources amounted to EUR 2,953 thousand at the end of the fiscal year 2004, with a cash generating second half year. The equity margin, partially because of the capital increases, improved from 18.6% in 2003 to 23.3% in 2004. In 2003, the average number of employees fell to 215 and to 168 in 2004. Looking at the year 2005 to come, based on a positive fourth quarter 2004, a good start into the new year as well as the larger order intakes during the last months, a slightly profitable year 2005 seems possible. The main goal is to further stabilize the turn-around and then to continuously build up upon it. BOV Aktiengesellschaft Contact person for Investor Relations: Christoph Junge mailto:christoph.junge@bov.de Contact person for PR, press and media: Martin Möllmann mailto:martin.moellmann@bov.de Alfredstrasse 279 D-45133 Essen Tel.: +49.(0)201.4513-3 Fax: +49.(0)201.4513-520 ISIN: DE0005493704 WKN: 549370 Listed: Geregelter Markt in Frankfurt (General Standard); Freiverkehr in Berlin-Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart End of ad hoc announcement (c)DGAP 04.04.2005 041100 Apr 05