ORBIS AG

Earnings Release • Mar 10, 2003

News Details

Ad-hoc | 10 March 2003 09:44

ORBIS AG correction

Orbis AG continues its consolidation efforts Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Correction: In today’s ad hoc announcement, 8.25 a.m., the first paragraph, sixth sentence, instead of: “This corresponds to a shareholder’s equity ratio of 47.7 percent.” it must read: “This corresponds to a shareholder’s equity ratio of 47.5 percent.”. The complete corrected announcement is: Orbis AG continues its consolidation efforts Saarbrücken, March 10, 2003 – Orbis AG recorded Group sales of Euro 26.6 million for the 2002 fiscal year (Dec. 31st) with its newly positioned consulting business introduced in 2001. The Group’s loss for the year of Euro 8.1 million was clearly influenced by the consolidation efforts initiated in 2002 and aimed at adapting business operations to overall market developments. This corresponds to a loss of Euro 0.86 per share. The operating loss (EBIT) declined to Euro – 8.6 million. Shareholder’s equity for the reporting year was EURO 15.8 million, down from Euro 23.9 million for the previous year. This corresponds to a shareholder’s equity ratio of 47.5 percent. Liquid assets declined as a result of the financing of ongoing operations, executed consolidation measures, and value-related changes in cash funds, which declined by Euro 6.4 million to Euro 8.9 million. Orbis AG recorded sales of EURO 6.4 million with its consulting business during the 4th quarter of the 2002 financial year. The operating result (EBIT) for the quarter was Euro – 5.7 million. This takes into account a onetime outlay of Euro 5.1 million for restructuring measures. At the end of the quarter the Orbis Group had 270 employees. The Management Board of Orbis AG anticipates that Group sales for the current financial year will be considerably below those for 2002. But a considerable improvement in overall earnings is forecast with an average of 230 employees. The EBIT for January 2003 was already positive. The Annual report 2002 is available on the Internet at http://www.orbis.de . Due to complex system changes from CDO to ERS, Deutsche Börse can only provide the electronic Annual report of ORBIS by March 12. Further information is available from Dr. Sabine Stürmer, Head of Investor Relations of ORBIS AG Tel: +49 (0)681 99 24 605, E-Mail: sabine.stuermer@orbis.de end of ad-hoc-announcement (c)DGAP 10.03.2003 ——————————————————————————– WKN: 522877; ISIN: DE0005228779; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, München und Stuttgart 100944 Mär 03