CPU Softwarehouse — Earnings Release 2001

Mar 21, 2002

News Details

Ad-hoc | 21 March 2002 08:29

CPU Softwarehouse AG english

Significantly improved turnover and operating result despite difficult market Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– All in all 2001 was a good year for CPU Softwarehouse AG, Augsburg, although the overall economic climate worsened, not least through the dramatic events of September 11th . CPU reports a significant improvement in the operating result. The EBITDA improved by 66% from EUR minus 19.9 mill. in 2000 to EUR minus 6.7 mill. in 2001. Parallel to this, turnover revenue rose by 19.4% from EUR 10.3 mill. in 2000 to EUR 12.3 mill. in the past business year, while overall costs fell by around 37% from EUR 30.2 mill. in 2000 to EUR 19.1 mill. in 2001. While liquidity – EUR 13.1 mill. – remains at an sufficiently high level, it has been possible to reduce the average monthly cash burn rate by 75% from EUR 1.6 mill. in 2000 to EUR 0.4 mill. in 2001. The CPU motto for the past business year was ” restructuring and repositioning”. All measures considered necessary by the executive board were successfully completed on schedule. These include the reorganisation of the corporate group and a concentration on the core competencies of investment, credit and project business, as well as a reduction in personnel and material costs by approx. 30% and an increase in turnover of around 20%. Despite the massive reluctance to invest within the financial services branch during the current business year – expected to weaken by mid-year at the earliest – the increases in productivity per head already achieved enable CPU to plan further improvement in the 2002 operating result of around 70% to give EUR minus 1.8 mill. (EBITDA), while turnover is expected to fall by 9%. The executive board maintains its forecast of breaking even, on an EBITDA basis, from mid-2002, particularly since the predicted result for the 1st quarter – approx. EUR minus 1.0 mill. – is a further improvement of almost 25% on the figures for the same period last year. CPU intends to push ahead in 2003. Plans are in place for further improvement to the turnover and cost relations and, with turnover of EUR 14.0 mill., for the achievement of an EBITDA to the sum of EUR 0.8 mill. – meaning that the company will finally be able to leave the loss-making zone behind it. IR contact: Joachim Bertele Tel.: 0821/4602-188 (Fax: -179) e-mail: investor@cpu-ag.com / URL: http://www.cpu-ag.com end of ad-hoc-announcement (c)DGAP 21.03.2002 ——————————————————————————– WKN: 545430; ISIN: DE0005454300; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 210829 Mär 02