IVU Traffic Technologies AG — Earnings Release 2003

May 16, 2003

News Details

Ad-hoc | 16 May 2003 08:30

IVU Traffic Technologies english

IVU Traffic Technologies AG (WKN 744 850) announces quarterly figures Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Sales revenues dropped 4.4 percent while gross result rose 16.3 percent EBIT and consolidated net income each improved over 40 percent Redundancies made necessary by sales slump Berlin, 16 May 2003 IVU Traffic Technologies AG earned 4.3 million euros in sales during the three months of the current fiscal year, which amounts to a 4.4 percent decline over the same period in the previ-ous year. The gross result, which reflects the company’s value-added, rose 16.3 percent to 5.7 million euros. Earnings before interest and taxes (EBIT) improved 41.5 percent to -2.4 million euros, due to 10.3 percent lower personnel expenses and further cutbacks in other operating expenses. The -2.5 million euros consolidated net income was also 40.5 percent better than the figure for the first quarter of 2002. Because customers in the Transport and Information Logistics segments have curtailed their capital spending, the company for the whole fiscal now expects sales revenues to remain at the level of the previous year. As a way to nevertheless pursue plans to improve earnings and pay off existing debts starting in 2004, IVU will lay off forty employees, a move that has already been announced. This will have a positive effect on earnings, saving 300,000 euros in 2003 and as much as two million euros in 2004. The market situation varies from one business segment to another. Public Transport, which accounts for three quarters of the company’s revenues, is well in its way to success and was able to generate a number of attractive new orders during the first three months of the year. The Transport and Information Logistics segments, on the other hand, are suffering the effects of cautious capital spending on the part of their customers. The complete annual report can be found at www.ivu.de. For more information, contact: Gerd Henghuber Head of Corporate Communications IVU Traffic Technologies AG Telefon +49.30.85906-800 E-Mail: gerd.henghuber@ivu.de end of ad-hoc-announcement (c)DGAP 16.05.2003 ——————————————————————————– WKN: 744850; ISIN: DE0007448508; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hannover, München und Stuttgart 160830 Mai 03