IVU Traffic Technologies AG — Earnings Release 2002

May 29, 2002

News Details

Ad-hoc | 29 May 2002 08:35

IVU Traffic Technologies english

IVU Traffic Technologies AG Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– IVU confirms annual targets and reports results (IAS) for first quarter of 2002: Turnover: 4.5 mil EURO, EBIT minus 4.4 mil EURO, and a net loss of minus 4.2 mil EURO +++ Measures to re-duce costs produce results +++ Presentation of financing concept at Annual General Meeting Berlin, May 29th, 2002. In the first quarter of 2002, IVU Traffic Technologies AG (WKN 744 850) obtained a turnover amounting to 4.5 mil EURO, thus increasing it by 61% compared with last year (2001: 2.8 mil EURO). The contributions of the business segments were as follows: Public Transport 2.9 mil EURO (2001: 1.7 mil EURO), Transport Logistics 1 mil EURO (2001: 0.4 mil EURO), and Information Logistics 0.6 mil EURO (2001: 0.7 mil EURO). The foreign share was 33% of the total revenues. Due to the seasonal business trend and the significant growth of operations, the EBIT of the first quarter was, with minus 4.4 mil EURO (2001: minus 2.4 mil EURO), just as negative as it had been expected. The annual deficit amounted to minus 4.2 mil EURO (2001: minus 2.0 mil EURO). However, restructuring measures show sustainable improvements of the cost structure. During the coming months, the focus will be kept on profitability by occupying the teams with cost-effective projects. The balance sheet as of March 31st states 10.5 mil EURO of liquid funds and low-risk securities. These will not be sufficient for covering the need for liquidity that will arise in the fourth quarter in the amount of 5.6 mil EURO. The management board will present the financing concept at the annual general meeting in Berlin on June 18th, 2002. In view of orders on hand amounting to 21.3 mil EURO as of March 31st (2001: 14.2 mil EURO), IVU is quite confident to be able to reach the targets for 2002 (turnover 38-40 mil EURO and a slightly positive result). The three months’ statement can be downloaded at www.ivu.de. Contact: IVU AG Investor Relations: Nicola Gehrt, phone:+49.30.85906.272, fax: +49.30.85906.111, eMail:ir@ivu.de end of ad-hoc-announcement (c)DGAP 29.05.2002 ——————————————————————————– WKN: 744850; ISIN: DE0007448508; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 290835 Mai 02