CENIT AG

Earnings Release • Feb 19, 2002

News Details

Ad-hoc | 19 February 2002 20:29

CENIT AG Systemhaus english

CENIT AG Systemhaus Preliminary Figures 2001 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Stuttgart, 19. Februar 2002 Preliminary balance results 2001 for CENIT Germany show a turnover of 87.3 m. EUR (2000: 92.3 m. EUR). EBITDA losses of the first half year 2001 in Germany could be compensated by realizing appropriate measures and effective cost reduction programs. The outcome of this is a balanced EBITDA year result. The EBIT in Germany resulted in minus 3.5 m. EUR (2000: 3.2m EUR). The EBT adjusted for extraordinary cost and expenses is minus 6.2 m EUR. This includes a depreciation of the investment in the french subsidiary of 2 m. EUR. The discontinuance of the business field e-commerce in Germany and the reverse transaction of the subsidiaries in Great Britain and North America resulted in extraordinary expenses of 12.7 m. EUR. This contains the depreciation and amortization of fixed assets, finance investments and receivables as well as the costs for the reverse transaction of the former subsidiaries in North America and Great Britain. The EBT for CENIT Germany after these special ex-penses is minus 18.7 m. EUR. The liabilities to banks after the reduction of liquid assets could be reduced to an amount of 9.5 m. EUR, which means a difference of 0.7 m. EUR to the former year 2000. All neces-sary credits for 2002 are granted and available. Preliminary balance results for CENIT Groups financial year 2001 result in a turnover of 118 m. EUR (2000: 118.5 m. EUR). Due to the economic downturn and the negative development in the outcome of the international subsidiaries in North America and Great Britain, the EBITDA for the CENIT Group resulted in minus 2.6 m. EUR (2000: 5.2 m. EUR). The EBIT for the CENIT Group is minus 7 m. EUR (2000: 1.3 m. EUR). CENIT Groups EBT is expected to be minus 18.3 m. EUR . With subsidiaries in Germany, France and Switzerland as well as a sales office in the US, CENIT is still internationally oriented and on the right way towards an increase in profitability. With the reverse transaction of the subsidiaries in USA and UK CENIT parted with his cash burner of the year 2001 and is expecting now a positive result for the year 2002. We will present the final figures at our annual press conference on March 22st. Further Information: F. Rau, Fon *49 711 7825 3185, email: f.rau@cenit.de end of ad-hoc-announcement (c)DGAP 19.02.2002 ——————————————————————————– WKN: 540710; ISIN: DE0005407100; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 192029 Feb 02