GBS Software AG — Earnings Release 2002

Jun 6, 2002

News Details

Ad-hoc | 6 June 2002 19:09

GROUP Technologies AG english

GROUP Technologies AG – Q1/2002 report published Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– * Q1/2002 report published * Significant growth in sales against Q1/2001 * EBIT of TEUR -529 within expectations * Ceyoniq insolvency hampers performance GROUP Technologies AG, Karlsruhe, has published its first quarter 2002 report today. Originally scheduled to appear on 05/28/2002, the report was deferred due to the delayed publication of the company’s annual financial statements for 2001. GROUP Technologies AG sales for the first quarter of its fiscal year 2002 totaled TEUR 2,345 (IAS), marking an increase of 38% against the same quarter in 2001. This first quarter, traditionally one of the weaker quarters for the software industry, was hampered by various negative reports relating to the company’s majority shareholder, Ceyoniq, AG and the resulting speculation. The company’s Ebit of TEUR -529 fell short of the company’s original expectations. The company was faced with TEUR 262 in extraordinary expenditure in the period under report as a direct result of Ceyoniq filing for insolvency. As previously announced, the operative divestiture from Ceyoniq AG has all but been completed. Nevertheless, with Ceyoniq filing for insolvency and the repercussions of this on the market, the company still felt some negative effects on its business. Whilst the Board anticipates that the second quarter will also be affected by these developments, it nevertheless expects the repercussions to recede with time. For the year as a whole, the company is still optimistic about achieving its envisaged targets. Given the present circumstances and perspectives, there is no immediate need to make any adjustments. The company anticipates that its sales will reach EUR 10.2 million with an Ebit of TEUR 400. end of ad-hoc-announcement (c)DGAP 06.06.2002 ——————————————————————————– WKN: 555 611; ISIN: DE0005556112; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Stuttgart, München, Berlin, Bremen, Hamburg, Hannover, Düsseldorf 061909 Jun 02