CANCOM SE — Earnings Release 2004

Mar 31, 2005

News Details

Corporate | 31 March 2005 07:24

Cancom IT Systeme AG: final figures for financial 2004

Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. —————————————————————————— CANCOM IT Systeme AG: final figures for financial 2004 Jettingen-Scheppach, Germany 31 March 2005 – The final figures for financial 2004 show that the CANCOM Group achieved Group sales of EUR 206.9 million, which means an organic growth of 8 percent. Compared with the previous year, Group earnings before interest, taxes, depreciation and amortisation (EBITDA) have risen by EUR 2.7 million, from EUR 0.2 million to EUR 2.9 million. Group earnings before interest and taxes (EBIT) also showed a significant improvement on the previous year’s figure, climbing from EUR -18.1 million to EUR 1.3 million. Group net income rose from EUR -22.1 million to EUR 0.2 million. Operating cash flow at 31 December 2004 rose by EUR 4.1 million to EUR 4.8 million compared with the previous year. At 31 December 2004 cash and cash equivalents amounted to EUR 7.2 million. The balance sheet ratios at 31 December 2004 have also improved noticeably since the end of 2003. The balance sheet total was reduced by 2.2 percent, from EUR 58.9 million to EUR 57.6 million. In addition, current liabilities to banks were paid off in full during the course of the year, with the exception of the current portion of long-term debt. At the same time, the equity ratio has increased from 36.5 percent at 31 December 2003 to 41.5 percent at 31 December 2004. As already reported, in view of the positive developments in the Apple market, the reduction of the investment backlog in the IT sector that has now begun and the successful takeover of ECS Computer Partner GmbH on 1 January 2005, the Executive Board is expecting Group sales to grow to at least EUR 245 million in 2005. At the same time, Group EBITDA is likely to increase disproportionately to at least EUR 4.8 million, with a Group EBIT of at least EUR 3.3 million. The Annual Report for 2004 will be made available during the course of the morning at http://uk.cancom.de/content/investorrelations/berichte.htm?caption=REPORTS. If you have any queries, please contact: CANCOM IT-Systeme AG Armin Blohmann Investor & Public Relations Messerschmittstrasse 20 D-89343 Jettingen-Scheppach Germany Phone: +49 (0)8225 996 1051 Fax: +49 (0)8225 996 4 1051 E-mail to : armin.blohmann@cancom.de end of message, (c)DGAP 31.03.2005 —————————————————————————— WKN: 541910 ; ISIN: DE0005419105; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover und Stuttgart 310724 Mär 05