IVU Traffic Technologies AG — Earnings Release 2004

May 14, 2004

News Details

Ad-hoc | 14 May 2004 08:45

IVU Traffic Technologies AG announce figures for first quarter

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– IVU Traffic Technologies AG announce figures for first quarter Revenues down in comparison with Q1 2003 Costs considerably reduced Liquidity allows first instalment of loan repayments Numerous new customers in first quarter for IVU systems In the first three months of the current financial year, IVU Traffic Technologies AG has generated revenues of some EUR 2.9 million, about 33 percent down on the same period in the previous year. However, the results for Q1 2003 included an interim payment for a major project which alone amounted to EUR 1.3 million. Without this payment the revenues were comparable in both quarters. The costs of IVU were considerably lower in a year-on-year comparison: personnel costs alone were down EUR one million or 19 percent for Q1 2004 on the figures for Q1 2003. As a result of this, the EBIT improved by 33 percent to EUR (1.6) million, and the consolidated losses by 32 percent to EUR (1.7) million. “Gratifyingly, the figures for the first quarter show that the restructuring measures introduced a year ago are already beginning to take effect.”, commented Prof. Ernst Denert, the Chairman of the Management Board of IVU. The company is now running a much leaner operation as far as costs are concerned. This means that with a conservatively estimated turnover in the current year forecast at almost thirty million euros, IVU will already be operating in the black again regarding EBTDA. “The first quarter figures do not provide a basis for any predictions about the overall performance for the financial year, because we traditionally generate up to half our revenue in the last quarter, but I am optimistic that we will reach our goals this year”, assured Denert. Regarding its liquidity planning, this meant that at the end of March it was possible for IVU to make the scheduled initial loan repayment of EUR 1.5 million. IVU has no longer activated performances in Q1 2004 from the development of software, in contrast to Q1 2003, when more than EUR 0.4 million was activated. In past years, there were high-levels of activated performances, in particular for the development of the software platform for public transport. But these investments are beginning to pay off, and the systems are successful on the market. However, the sums left to be written off are still impacting on the results. IVU is the only system developer currently able to offer its customers an IT platform of software and hardware solutions for all public transport requirements.. Our systems are used by more than 300 transport utilities world- wide. Once again in the first quarter, IVU was able to win numerous new customers. MICROBUS now has some 200 users, making it the most successful public transport planning and management system in Europe. It is increasingly establishing itself as the benchmark product for these applications. You can read the full text of the Q1 2004 report at www.ivu.de. IVU Traffic Technologies AG is a leading supplier of IT systems for planning, operating and optimising transport and logistics processes. Over 25 years of experience developing hardware and software systems for more than 300 public transport companies has also made IVU the market leader for IT solutions in other segments: monitoring truck fleets, setting up retail networks in geo- marketing, election processing. This is IVU’s approach to transportation and beyond. Contact: Gerd Henghuber Head of Corporate Communications IVU Traffic Technologies AG Bundesallee 88, 12161 Berlin Tel. +49.30.85906-800 Fax +49.30.85906-111 E-Mail: gerd.henghuber@ivu.de Internet: http://www.ivu.de end of ad-hoc-announcement (c)DGAP 14.05.2004 ——————————————————————————– WKN: 744850; ISIN: DE0007448508; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hannover, München und Stuttgart 140845 Mai 04