IVU Traffic Technologies AG — Earnings Release 2001

Mar 15, 2002

News Details

Ad-hoc | 15 March 2002 10:59

IVU Traffic Technologies english

Berlin, 15 March 2002: IVU reports results (lAS) for 2001 Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– IVU Traffic Technologies AG Berlin, 15 March 2002: IVU reports results (IAS) for 2001: Revenues 25.5 mil EURO. EBIT (18.8 mil) EURO and a net loss of 37.1 mil EURO. Operating results were affected by one-time expenditures amounting to 22.9 mil EURO. For 2002, the executive board is expecting revenues between 38 to 40 mil EURO, an EBIT between 0.5 to 1.5 mil EURO and a break-even on net earnings. IVU Traffic Technologies AG (WKN 744 850) attained revenues in the amount of 25.5 mil EURO for business year 2001, a 46% increase compared to 2000 (17.5 mil EURO). The increase resulted largely from the purchase of TTi Group (5.9 mil EURO). EBIT with (18.8 mil) EURO (2000: +2.4 mil EURO), and earnings of (37.1 mil) EURO (2000: +1.4 mil EURO) are deeply in the red. Reasons for the negative figures, besides a weak operative business, were one- time expenditures amounting to 22.9 mil EURO due to a reduction of TTi goodwill, write-offs on TTi loans, restructuring expenses, expenses due to personnel reductions, the bankruptcy of Truck24, as well as write-offs on accounts receivable and own work capitalized. Restructuring efforts (reorganization of the business segment Public Transport due to the TTi consolidation, personnel reductions, and streamlining of the investment portfolio) are now concluded. Additional to existing bank loans (9.3 mil EURO) we expect short-term funding requirements of approximately 8 mil EURO for 4th quarter 2002 due to expected revenues. We are currently negotiating with several banks regarding a financing model. Existing liquid assets including cash and low risk marketable securities amount to 14.1 mil EURO (31.12.2001). For 2002, the executive board is forecasting positive revenue developments of 38 to 40 mil EURO. 50% of this figure is already assured by orders on hand. An EBIT between 0.5 and 1.5 mil EURO, and break-even for the year is expected. Positive signals are expected due to our positioning as one-stop provider for public transport, continued market penetration with our fleet management systems, as well as innovative eGovernment solutions, projects with GSM-based localisation, and geographical information systems. Further S&M successes are expected from our new locations in Aachen, Hanover, Vienna and Paris. The complete annual report 2001 is available on 28 March 2001. POC: IVU AG Investor Relations: Nicola Gehrt, Tel.: +49.30.85906.272, e-Mail: ir@ivu.de end of ad-hoc-announcement (c)DGAP 15.03.2002 ——————————————————————————– WKN: 744850; ISIN: DE0007448508; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München, Stuttgart 151059 Mär 02