IVU Traffic Technologies AG — Earnings Release 2001

Aug 17, 2001

News Details

Ad-hoc | 17 August 2001 08:30

IVU Traffic Technologies english

Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Berlin, 17 August 2001. Revenues of IVU Traffic Technologies AG showed during the first half of the year a marked increase of 46%, to DM 13.2 million compared to previous year. This figure is just slightly under plan. As in previous years, the company will realise most of its revenues, as well as income, during the second half of the year. During 2nd quarter 2001, we received orders in the amount of DM 9.9 million. Orders on hand increased to 37.7 million by 30 June 2001 (previous year: DM 26.1 million.) Personnel costs increased by 77%, to DM 16.4 million. Other operating costs rose from DM 2.9 million to DM 9.4 million. Result for the first half of 2001 was an EBIT of DM (11.8 million), increasing from DM (2.1 million), and an increase of net loss from DM 3.5 million to DM 11.7 million. Based on this information, the management is correcting the projected revenue and income plan figures for 2001. The expected increase of revenues to DM 68 million, which was based on the acquisition of TTi Systems AG, is being reduced to DM 57 million, while the EBIT plan figures of DM 9 million are being cut back to DM (6.0 million). Reasons for the unsatisfactory revenue development can be found in the weak demand for services and products in the area, Transport Logistics. The delayed market introduction of UMTS services has had a negative effect on the area, Mobile Services. The clearly negative income situation is, for the most part, based on the high restructuring and integration costs generated by the acquisition of TTi AG. In addition, the recruitment of personnel based on our previous plan figures, as well as the significant costs generated by our acquisitions, have had a negative impact on income. The executive board together with the supervisory board has initiated measures to ensure a fast improvement of the income situation. This means the optimisation of personnel, and the drastic reduction of overhead costs. A reorganisation concept for the area, Transport Logistics, was decided upon and initiated. A sales and marketing campaign for products with a high income potential has been started in order to improve the earnings situation. Further measures to improve our profit situation will follow. IVU Traffic Technologies AG, Investor Relations Nicola Gehrt, Tel. +49.30.859 06-272, e-mail: ir@ivu.de end of ad hoc announcement (c) DGAP 17.08.2001 ——————————————————————————– WKN: 744850; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 170830 Aug 01