GFT Technologies SE — Earnings Release 2001

Aug 16, 2001

News Details

Ad-hoc | 16 August 2001 07:00

GFT Technologies AG english

Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– GFT Technologies AG, one of Europe’s leading providers of integrated IT solutions, today announced that the merger with the Emagine Group has been completed yesterday and published its interim report as of 30 June 2001. In the first six months, the enlarged company group achieved consolidated pro forma revenues of EUR 115.7 mn. Before depreciation and amortisation of goodwill, pro forma results (EBITDA) amounted to KEUR 1,894. Revenues of the hitherto GFT Group were EUR 43.1 mn., of which EUR 20.6 mn. was realised in the second quarter. This resulted in a growth rate of 2% compared to the first six months of the previous year. Earnings before interest and taxes (EBIT) came to KEUR -1,224 for the first half of the year. EBITDA amounted to KEUR 1,581, compared to KEUR 6,883 in the same period of the previous year and KEUR 2,258 in the preceding quarter. Despite of a weak second quarter, the enlarged GFT Group including Emagine will build on a profound basis in order to take the next significant step towards the company’s future. As the existing and incoming orders are very satisfying and positive incentives from the co-operation agreement with Deutsche Bank will take effect in August, GFT sticks to its 2001 targets. At 30 June 2001, the enlarged GFT Group had 1,610 fixed employees, of which 795 worked for the former GFT Group – 167 more than at the same point in the previous year. In order to increase capacity utilisation again and to achieve a sustainable increase in profitability, the Executive Board in consultation with the Supervisory Board decided to impose a freeze on recruitment beginning as of the third quarter as well as a reduction of the workforce by a total of 60 people. In addition, capacity co-ordination with Emagine will be introduced, so that more projects can be worked on with the resources now available in the new company group. The complete interim report will be available in the internet from 7.00 CET at www.gft.com/ir 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. +49-171-8647283, e-Mail: sandra.struewing@gft.com end of ad hoc announcement (c) DGAP 16.08.2001 ——————————————————————————– WKN: 580060; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 160700 Aug 01