GFT Technologies SE — Earnings Release 2001

Nov 15, 2001

News Details

Ad-hoc | 15 November 2001 07:00

GFT Technologies AG english

GFT AG defies recessionary trend of the sector in Q3 and reports stable revenues Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– GFT AG defies recessionary trend of the sector in Q3 and reports stable revenues Considering the legal consolidation of the Emagine Group from 1/8/2001, as of 30/9/2001 the new GFT Group achieved revenues of EUR 86.5m. Thus turnover was maintained at the same level as in the second quarter. This is also valid for the old company group reporting EUR 20.5m. for the third quarter. Here, accumulated revenues of nine months amounted to EUR 63.5m., a decline of just under 2 per cent by comparison with the same period in the previous year. The cost savings programme initiated in August has already shown effect on the old company group’s results of the third quarter. A loss of only EUR -0.38m. was shown by comparison with one of as much as EUR -1.6m. in the second quarter. However, further sustainable positive impact on profitability is expected for the fourth quarter. As of 30/9/2001 the new GFT Group recorded EBIT of EUR -2.3m. Thus, EBIT for the new company group exceed those of the old company group by EUR 0.3m., which is attributable to Emagine’s positive contribution to the results from operating activities. EBITDA of the new company group for the same period amounted to EUR 2.7m. Due to initial consolidation and increased depreciations and amortisations it exceeds the EBITDA of the old company group even by EUR 1.2m. Liquid funds of the new company group at the end of the third quarter amounted to EUR 27.1m. The new company group registered a positive cash flow from operating activities during the reporting quarter. As of 30/9/2001 the new GFT Group had 1,571 fixed employees – 39 fewer than at the end of June. GFT adapts the revenues and results forecasts for the current financial year. Given the initial consolidation from 1/8/2001 and a resulting consolidation of just five months’ business activity of the Emagine Group, the new company’s revenue target amounts to EUR 144m. Thereof EUR 25m. accounts for the freelance agency business. The EBITDA margin is supposed to be clearly positive. The entire quarterly report is available in the Internet at http://www.gft.com/ir from 7:00h. Contact: Sandra Strüwing, Director Corporate Communications, GFT Technologies AG, Leopoldstr. 1, D-78112 St. Georgen, T. +49-7724-9411-423, F. +49-7724-9411- 883, M. +49-173-7085834, e-Mail: sandra.struewing@gft.com end of ad-hoc-announcement (c)DGAP 15.11.2001 ——————————————————————————– WKN: 580060; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 150700 Nov 01