ORBIS AG

Earnings Release • Mar 23, 2004

News Details

Ad-hoc | 23 March 2004 07:50

ORBIS AG achieved its objective ‘return to profitability’ for 2003

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– ORBIS AG achieved its objective ‘return to profitability’ for 2003 Saarbrücken, March 23, 2004 – ORBIS AG has achieved its declared objective, namely a return to profitability, for the year 2003. With consolidated sales amounting to EUR 21.024 million, the net income for the Group totaled EUR 599,000. As of the end of the previous year, the company had reported a consolidated net loss of EUR 8.183 million and consolidated sales of EUR 26.611 million. The 21 percent drop in sales revenues was in line with the subdued expectations for the 2003 fiscal year. With 9.1 million subscribed shares, this result corresponds to earnings per share of EUR 0.07. The Saarbrücken based business consultancy company achieved this result via the consistent implementation of the measures presented at the last Annual General Meeting. In addition to the strong positioning in the areas industrial companies, automotive suppliers, the consumer goods industry, and the commerce sector, the cost optimization and variablization measures were also key success factors. At EUR 313,000, the operating results (EBIT) for 2003 were positive (2002: minus EUR 8.618 million), with shareholders’ equity increasing to EUR 16.206 million compared with the previous year’s figure (2002: EUR 15.613 million). The equity ratio grew from 47.0 percent for the previous year to 56.2 percent. The total assets of ORBIS AG decreased by 13.2 percent to EUR 28.860 million during the 2003 fiscal year. During 2003, cash and cash equivalents fell by EUR 1.196 million. As a result of the payments associated with the consolidation measures taken, the cash flow from operating activities showed a negative balance. In addition, longterm loans were reduced as scheduled. As at December 31, 2003 ORBIS employed 204 staff (2002: 270). For the 2004 fiscal year, the Management Board of ORBIS AG expects a further improvement in profitability, with sales revenues maintaining the level of 2003. Contact: Dr. Sabine Stürmer, Head Investor Relations of ORBIS AG Ph.: +49 (0)681 99 24 605, e-mail: sabine.stuermer@orbis.de For further information, please visit http://www.orbis.de . end of ad-hoc-announcement (c)DGAP 23.03.2004 ——————————————————————————– WKN: 522877; ISIN: DE0005228779; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 230750 Mär 04