HANSEN TECHNOLOGIES LIMITED — Interim / Quarterly Report 2004

Feb 19, 2004

ASXRMITASM

20 February 2004

Hansen Technologies first half EBITDA \$2.3 million

Hansen Technologies Limited (ASX:HSN), the billing systems and IT outsourcing services group, today announced earnings before interest, tax, depreciation and amortisation (EBITDA) of \$2.3 million for the six months to 31 December 2003. compared with \$1.5 million for the previous corresponding period. As anticipated at the annual general meeting on 12 November 2003, total revenue was \$27 million. The company recorded a net loss of \$0.9 million for the period.

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Results for half year to 31 December	2003 \$A million	2002 \$A million
Sales revenue	25.9	30.4
EBITDA	2.3	1.5
Depreciation and amortisation	$-3.1$	$-3.3$
EBITA	$-0.8$	$-1.8$
Goodwill amortisation	$-0.6$	$-0.6$
EBIT	$-1.4$	$-2.3$
Net interest income/(expense)	0.0	$-0.1$
Profit before tax	$-1.4$	$-2.4$
Tax credit/(expense)	0.5	$-0.1$
Net profit after tax	$-0.9$	$-2.5$
Earnings per share (cents)	$-0.8$	$-2.7$

Mr Andrew Hansen, managing director, said: 'We made substantial progress towards profitability during the first half. While revenue was lower than in the first half of 2002/3 due to the cessation of the EIS gas systems (the Gas & Fuel legacy systems) business and the migration of a Telstra legacy system, we began to see the benefits of our restructuring which has produced a more stable and predictable revenue stream with lower costs and greater productivity. The \$0.8 million increase in EBITDA is after the one-off \$0.9 million cost of settling the dispute with the vendors of the SVi business. The company is now, and will remain for the foreseeable future, operationally cash-flow positive.

ASX Release Hansen Technologies results for the half year to 31 December 2003

'We have a growing pipeline of new business prospects but the timing of revenue recognition from new contracts is uncertain, and second half revenue and EBITDA may be marginally lower than in the first half. However, with our lower cost base, we expect significant improvements in both revenue and earnings in the 2004/5 financial year.

'The major investment in our HUB billing system for utilities and telecommunications companies has been completed and, while we are continuing to enhance the product, our focus now is on marketing and on building future earnings. During the half year, we secured a significant contract to provide Alinta with a network management information system based on HUB to support its operations in the derequiating Western Australian gas market and a contract, initially worth A\$1.0 million over two years, to provide a HUB billing system to a Nevada, USA telecommunications provider. Meanwhile, our IT outsourcing business continues to meet expectations.

'Our international network of offices and alliance partners is opening up new opportunities, particularly in Asia, and we expect to be able to announce further sales both in Australia and overseas during the second half. These will produce revenue in the 2004 and 2005 financial years, followed by ongoing revenue from support and development services.

ends

About Hansen

Hansen Technologies Limited is a leading provider of billing systems and IT outsourcing services, with operations in five countries. Its HUB billing system, originally developed for the telecommunications industry, is increasingly being used by energy companies as retail contestability expands. Founded in 1971 Hansen has offices in Australia, the United Kingdom, Europe, the United States and New Zealand, and its clients include Telstra, AGL, TXU and British Telecom.

For further information contact:

Mr Andrew Hansen Managing Director Hansen Technologies Limited (613) 9840 3000

Mr Grant Lister Chief Financial Officer Hansen Technologies Limited (613) 9840 3000