CANCOM SE — Earnings Release 2003

Feb 12, 2004

News Details

Ad-hoc | 12 February 2004 15:40

CANCOM realised operating profit (EBITDA) in 2003 due to good 4th quarter result

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– CANCOM realised operating profit (EBITDA) in 2003 due to good 4th quarter result – Turnaround completed in the fourth quarter of 2003 – Organic growth in Q4/2003 – Consequently, the company realised an operating profit (EBITDA) for 2003 as a whole – Improved cash and cash equivalents position due to the positive free cash flow in 2003 Jettingen-Scheppach, Germany, 12 February 2004 – Brisk business at the end of the year and the introduced cost reduction measures enabled CANCOM IT Systeme AG to achieve turnaround in the fourth quarter of 2003. Specifically, EBITDA increased from Euro 1.0 million in the fourth quarter of 2002 to Euro 1.1 million in the fourth quarter of 2003. Earnings before interest and tax (EBIT) amounted to Euro 0.7 million following Euro 0.4 million in the previous year. The Group result improved to Euro 0.6 million compared with Euro – 0.2 million in the same quarter last year. Fourth quarter sales increased by 5 per cent from Euro 56.2 million in 2002 to Euro 59.0 million. Group sales in 2003 amounted to Euro 192.1 million following Euro 235.7 million in the previous year. Although Group EBITDA was still Euro -1.0 million after the first nine months of 2003, CANCOM was able to close the year with an operating profit of Euro 0.2 million thanks to the fourth quarter result (EBITDA 2002: Euro 3.2 million). The company’s cash and cash equivalents position had also improved to Euro 7.5 million in 2003 as a result of the positive free cash flow. Based on the company’s excellent position in the market and the increasingly strong indicators of economic recovery, the Executive Board anticipates that the turnaround in the fourth quarter of 2003 will be followed by further organic growth in sales and a very positive result in 2004. end of ad-hoc-announcement (c)DGAP 12.02.2004 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Note: the figures relating to the sales and result in 2002 and 2003 have been adjusted in accordance with US GAAP to take into account discontinued operations after the deconsolidation of eBizcuss.com S.A. on 30 September 2003. Your contact at CANCOM: CANCOM IT Systeme AG Armin Blohmann IR & PR Messerschmittstr. 20 89343 Jettingen-Scheppach Germany tel.: +49 (0) 8225 / 996 1051 fax.: +49 (0) 8225 / 996 1033 armin.blohmann@cancom.de ——————————————————————————– WKN: 541910 ; ISIN: DE0005419105; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover und Stuttgart 121540 Feb 04