GBS Software AG — Earnings Release 2002

Aug 15, 2002

News Details

Ad-hoc | 15 August 2002 16:05

GROUP Technologies AG english

GROUP Technologies AG: Preliminary figures for 2nd quarter 2002 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– GROUP Technologies AG: Preliminary figures for 2nd quarter 2002 * Subdued sales and earnings trends * Objectives for entire year readjusted * Cost-cutting measures in and bolstering of sales division Sales and earnings trends for the 2nd quarter of 2002 were subdued judging by the initial preliminary figures published by GROUP Technologies AG, Karlsruhe. For the period April through June 2002, sales amounted to around EUR 1.9 m, resulting in an overall total for the first half of the year 2002 of some EUR 4.2 million. Our sales growth rate, which was 13% less than during the first half of 2001 (EUR 3.7 m), fell short of the Board’s expectations. The main causes of this were unfavorable economic developments and the restructuring measures implemented in GROUP Technologies sales division. With a negative EBIT of about TEUR 850 for the 2nd quarter of 2002, the first half of 2002 therefore closed with a negative EBIT of EUR 1.4 million. From a branch perspective, the previous year’s positive value of TEUR 155 was a remarkably high result. The non-recurring expenses related to the insolvency of CEYONIQ AG have weighed heavily over the last few months as has the increase in expenditure needed to bolster the effectiveness of our sales division. Although the 2nd half of the year generally tends to be a stronger period for the software industry in terms of sales, the Board has downsized its sales and results expectations for the year 2002 as a whole: As things stand today, sales are expected to reach EUR 9.5 m (original sales forecast: EUR 10.2 m) with a negative EBIT of TEUR 250 (previous EBIT target: positive EBIT of TEUR 400). Well-directed cost-cutting measures, coupled with major advances in the bolstering of our sales force, are expected to help achieve these objectives. The definitive and detailed figures for the 2nd quarter and first half of the year 2002 will be announced by GROUP Technologies AG at the Annual General Meeting to be held on August 22, 2002. end of ad-hoc-announcement (c)DGAP 15.08.2002 ——————————————————————————– WKN: 555 611; ISIN: DE0005556112; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Stuttgart, München, Berlin, Bremen, Hamburg, Hannover, Düsseldorf 151605 Aug 02