IVU Traffic Technologies AG — Earnings Release 2004

Jan 31, 2005

News Details

Ad-hoc | 31 January 2005 12:30

IVU Traffic Technologies: 33 employees laid off today

Ad hoc announcement §15 WpHG Redundancies IVU Traffic Technologies: 33 employees laid off today Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— Both the revenue and result of IVU Traffic Technologies AG will fall short of expectations for fiscal 2004, prompting the need for further cost-cutting measures this year to ensure the survival of the Berlin software company. Due to these circumstances, IVU laid off 33 employees today for operating reasons, 23 of them in Berlin and 10 in Aachen. This will reduce the workforce from 290 to 257 people. In addition, IVU closed its Paris office late last year due to the lack of orders from the French market. “These layoffs are an extremely painful step for everyone involved, one that we have considered very carefully,” says CEO Prof. Dr. Ernst Denert. “However, they are unavoidable if we are to respond quickly to foreseeable sales shortfalls.” Denert emphasised the involvement of the works council, which, he said, questioned each and every redundancy and ultimately endorsed the layoffs. The company and works council negotiated a redundancy scheme and reached an agreement on support from a consulting and mediation agency hired by IVU. The company expects the layoffs to save about EUR 1.7 million, starting next year. This year, the figure will amount to around EUR 0.4 million, due to severance payments. IVU will publish the 2004 result on 2 March, following the meeting of the Supervisory Board. The Annual Report will appear on March 9. Contact: Gerd Henghuber Head of Corporate Communications IVU Traffic Technologies AG Bundesallee 88, 12161 Berlin Germany Tel +49 (0)30 85906-800 Fax +49 (0) 30 85906-111 E-mail: gerd.henghuber@ivu.de Website: http://www.ivu.de IVU Traffic Technologies AG Bundesallee 88 12161 Berlin Deutschland ISIN: DE0007448508 WKN: 744850 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hannover, München und Stuttgart End of ad hoc announcement (c)DGAP 31.01.2005 311230 Jän 05