pferdewetten.de AG — Earnings Release 2001

Oct 10, 2001

News Details

Ad-hoc | 10 October 2001 17:04

e.multi Digitale Dienste english

Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– * e.multi.ag fails to reach sales and earnings targets for fiscal year 2001 * Far-reaching restructuring measures agreed Ettlingen, October 10, 2001 – e.multi Digitale Dienste AG (German Securities Code Number (WKN) 548 851) will not be able to reach its sales and earnings targets for fiscal year 2001. In response to this, the Managing and Supervisory Boards have drawn up a far-reaching restructuring program to refocus the company on its core competency, entertainment. Although e.multi slightly exceeded its targets in the first half year, the sustained weak market environment will no longer allow the company to reach its ambitious goals. A large number of the planned releases of sweepstakes for Q3 and Q4 have been postponed indefinitely or completely cancelled. The latest international developments have only intensified the lack of demand from the media and sponsors for entertainment products. e.multi.ag has lowered its sales projections for 2001 as a whole from planned EUR 13.0 million to approximately EUR 4.5 million, in line with the previous year’s level. The strategy of focusing on entertainment, the company’s core business, implies getting rid of unprofitable subsidiaries. In the short term, extraordinary write-downs and provisions from this restructuring will substantially impact results. At present, the Managing Board forecasts a net loss for the period of EUR 9 million. In addition to the drastic restructuring of the e.multi group, measures have been agreed to cut costs systematically within e.multi itself. These measures focus on a sharp reduction in the number of employees and members of the Managing Board as well as the expansion of an efficient project cost control system. e.multi expects the current slump to continue into the first half of 2002. The Managing Board aims to inject liquidity of EUR 2.0 – 4.0 million into the company via the sale of subsidiaries. With the help of the cost cutting program, the Managing Board expects to be back in the black in Q1 2002. After the presentation of the final results for Q3 and the introduction of the proposed measures, e.multi will provide details of the restructuring program and give an overview of future company developments at the analyst conference on November 21, 2001. Contact: e.multi Digitale Dienste AG Press and Public Relations Steffen Schäfer Tel.+49 (0)7243-765 162 sschaefer@emulti.de end of ad-hoc-announcement (c)DGAP 10.10.2001 ——————————————————————————– WKN: 548851; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 101704 Okt 01