CANCOM SE — Earnings Release 2001

Nov 6, 2001

News Details

Ad-hoc | 6 November 2001 07:31

Cancom IT Systeme AG english

Sales increase by 64 % in the first nine months Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Sales increase by 64 % in the first 9 months In the first 9 months of 2001 the CANCOM Group has been able to increase its Group sales by 64% year-on-year to DM 328.2 million. The gross yield increased from 12.6% in the first 9 months of the previous year to 18.0% in the same reporting period of 2001, rising by a nominal 134% from DM 25.3 million to DM 59.1 million. There was thus a marked increase in added value as compared with the previous year. Group EBIT, adjusted to exclude discontinued operations, amounted to DM 6.1 million (previous year: 3.3 million) Three areas of business – at Novodrom, ff-eCommerce and Tendi AG respectively – were discontinued, and the result has therefore been adjusted to exclude them. Without this effect, EBIT would have amounted to DM 1.7 million. Group EBITDA, adjusted to exclude discontinued operations, amounted to DM 9.0 million. In the same period of 2000, EBITDA amounted to DM 4.7 million. The proportion of international business increased to 34% during the 9-month period of 2001, as against 23% in the same period of 2000. The planning for the whole of 2001 previously forecasted sales of DM 502 million and EBIT of DM 10.0 million. This planning assumed that VendIT AG would be consolidated as from 1 May 2001, whereas in fact the consolidation did not take place until 1 June 2001. Adjusted to take account of this consolidation effect, targeted sales for 2001 amount to DM 485 million. In October 2001 sales of approx. DM 49,3 million were achieved. Like the September figure, this was below expectations. The weakening of the international economy and the political uncertainties resulting from the September terrorist attacks make forecasting difficult. Against this background, the Executive Board envisages that sales will amount to DM 475 million in 2001, thus falling slightly below the planned level. This means that the forecasts have proved to be extremely accurate despite the economic downturn. Excluding discontinued operations, EBIT of between DM 7.0 million and DM 10 million is expected for 2001. In 2002, no upturn in the general economic situation is expected until the second half of 2002. Accordingly, CANCOM is adjusting its planning for 2002 as well. Previously CANCOM had been expecting sales of DM 650 million and EBIT of DM 21.9 million. The new forecast envisages sales of DM 585 million and EBIT of DM 15.0 million. end of ad-hoc-announcement (c)DGAP 06.11.2001 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: As the world-wide consolidation in the IT industry is taking place at the expense of companies with a weaker capital base and favours the bigger companies with dominant market positions, the CANCOM Group is confident, despite the difficult situation, that its outstanding position on the market and its strategic positioning will enable it to further add to its market shares in Germany and Europe, and to emerge from the phase of economic weakness substantially strengthened in the medium term. We have, for example, been able to expand our market share in the German DTP and media environment to 29% in the past quarter. Accordingly, CANCOM will continue to show profitable growth despite the general economic weakness. For further information, please contact our IR Department IR@cancom.de Phone +49 (0)8225 99651 Fax +49 (0)8225 99633 ——————————————————————————– WKN: 541910 ; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 060731 Nov 01