CeoTronics AG

Earnings Release • Aug 22, 2003

News Details

Ad-hoc | 22 August 2003 18:30

CeoTronics AG english

Annual Group results as of May 31, 2003 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Net-loss -567 T Euro / Operating profit without extraordinary effects positive / Equity rate 71% CeoTronics AG Audio Video Data Communication (ISIN DE 0005407407) which is listed under PRIME Standard had to accept a cyclical decrease in sales from 13,868 T Euro (last year) to 12,366 T Euro (as of May 31, 2003). The operating profit (EBIT) for the year was down to -543 T Euro compared to 194 T Euro last year. The result before taxes and minority interest decreased from 29 T Euro (last year) to -687 T Euro (actual). As of May 31, 2003 the net loss amounts to -567 T Euro vs. 830 T Euro last year. The actual loss per share for whole 2002/2003 is -0.26 Euro (last year: 0.38 Euro). The fourth quarter alone shows an operating profit (EBIT) of -151 T Euro basically due to cyclical reasons (last year: 322 T Euro). The result before taxes and minority interest is -199 T Euro (fourth quarter last year: 285 T Euro). Group’s net income for the fourth quarter amounts to 10 T Euro compared to 1,191 T Euro last year. The earnings per share for the quarter show an amount of 0.00 Euro (last year: 0.55 Euro). The gross cash-flow for business year 2002/2003 amounts to -63 T Euro (2001/2002: 1,470 T Euro). At the beginning of the business year the scope of consolidation was enlarged by the addition of AACOM-CeoTronics Ltd., Lodz, Poland, where CeoTronics AG holds a 75% share. As of May 31, 2003 the equity rate amounts to 71% (last year: 70%). The order- backlog as of May 31, 2003 was lower than last year due to orders which came in too late for business year 2002/2003. The number of employees decreased from 128 to 127. end of ad-hoc-announcement (c)DGAP 22.08.2003 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Especially the cyclical downturn in sales in the third and fourth quarter led to the consequence that the targets for 2002/2003 could not be achieved. In addition, the negative operating loss (EBIT) of -543 T Euro is due to extraordinary effects. The negative impact of the devaluation of the US-Dollar, depreciation of stocks as well as the management change of the US branch caused alone additional costs of 545 T Euro. Without these extraordinary effects the group EBIT would amount to +2 T Euro. Although, CeoTronics AG (Germany) is showing a net-income of 422 T Euro, the Board of Management and the Supervisory Board are not satisfied with the group results. Anyway, CeoTronics is optimistic for the future. “We assume that the negative extraordinary effects will not happen again. We have also improved our cost structure and lucrative bulk orders for our innovative products are just before being placed. Therefore we see light at the end of the tunnel”, says CeoTronics CEO, Thomas H. Günther. CeoTronics AG Audio Video Data Communication Investor Relations Adam-Opel-Strasse 6 63322 Rödermark Germany Phone: +49-(0) 6074-8751-722 Fax: +49-(0) 6074-8751-720 E-Mail: vorstand@ceotronics.com Internet: http://www.ceotronics.com ——————————————————————————– WKN: 540740; ISIN: DE0005407407; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Düsseldorf, Hamburg, Hannover, München und Stuttgart 221830 Aug 03