PIERER Mobility AG

Earnings Release • Nov 15, 2011

Ad hoc announcement

BRAIN FORCE HOLDING AG / Keyword(s): Preliminary Results

BRAIN FORCE announces successful turnaround and revenue growth

Ad hoc announcement transmitted by DGAP - a company of EquityStory AG. The
issuer is solely responsible for the content of this announcement.

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BRAIN FORCE HOLDING AG (Vienna Stock Exchange: BFC, Reuters: BFCG), a
leading IT service company with business operations in Austria, Germany,
Switzerland, Italy, the Netherlands, Czech Republic, Slovakia and the USA,
made an ad-hoc announcement today on its preliminary results for the
2010/11 fiscal year (October 1, 2010 to September 30, 2011). The company
achieved a turnaround in the past fiscal year and generated clearly
positive operating results, with an operating EBITDA of EUR 3.13 million
(prior year: EUR 1.15 million) and an operating EBIT of EUR 1.04 million
(prior year: EUR -1.65 million). Moreover, BRAIN FORCE returned to a growth
path with respect to its top line. Group revenues climbed 2% to EUR 71.09
million. In a like for like comparison with adjustments for changes in the
consolidation range, the Group posted organic revenue growth of 6%.

'The operating results of the 2010/11 fiscal year underline the successful
strategic reorientation of the company and the effectiveness of the
implemented restructuring measures', says CEO Michael Hofer, expressing his
satisfaction with the preliminary figures presented today. 'Organic top
line growth of 6% along with a revenue increases of 11% and 21% in the
third and fourth quarters respectively show a clearly positive trend which
needs to be continued. Moreover, the development of the total number of
employees was gratifying. At the reporting date the number of salaried and
free-lance employees increased in comparison to the prior-year level for
the first time since 2007, rising by 10% to 786 people', Michael Hofer
adds.

'All operating units generated significant revenue and earnings increases
in the fourth quarter', says CFO Thomas Melzer in his analysis. 'For the
fiscal year 2010/11 only our subsidiary in Italy posted operating results
slightly below the previous year, which I attribute to the difficult
economic environment there', Thomas Melzer adds. In Germany, the largest
market for the BRAIN FORCE Group, revenues in the 2010/11 fiscal year were
up 6% to EUR 38.24 million, and operating EBIT rose from EUR 0.11 to 1.78
million. In Italy, revenues fell 4% to EUR 20.71 million, whereas the
operating EBIT at EUR 0.44 million hardly changed from the prior year.
Revenues in the Netherlands climbed 30% to EUR 8.95 million, and operating
EBIT strongly improved from EUR -0.74 to +0.42 million. Revenues in the
Central East Europe region (Austria, Czech Republic, Slovakia) dropped by
40% to EUR 3.19 million, and operating EBIT decreased from EUR 0.32 to 0.14
million, which is exclusively due to the changes in the consolidation
range. However, from an organic perspective revenues in the Central East
Europe region were up 32%, and operating EBIT more than doubled. The
holding company also contributed to the solid earnings development of the
BRAIN FORCE Group, reducing costs by a further 4%.

The financial statements and the Annual Report for the 2010/11 fiscal year
and the outlook for the 2011/12 fiscal year will be published within the
context of a press breakfast to be held on December 21, 2011.

Preliminary results 2010/11 2010/11 2009/10 Chg.
Revenues EUR million 71.09 69.59 +2%
Operating EBITDA EUR million 3.13 1.15 +172%
Operating EBIT EUR million 1.04 -1.65 +163%
Employees (average) 733 779 -6%
Employees (reporting date) 786 713 +10%

Q4 2010/11 7-9/2011 7-9/2010 Chg.
Revenues EUR million 18.84 15.62 +21%
Operating EBITDA EUR million 1.19 0 n.a.
Operating EBIT EUR million 0.69 -0.56 +223%

Kontakt:
BRAIN FORCE HOLDING AG
Thomas Melzer
Karl-Farkas-Gasse 22 / 4. OG
A-1030 Wien
t  +43 (0)1 263 09 09 - 12
f  +43 (0)1 263 09 09 - 40
investorrelations@brainforce.com

15.11.2011 DGAP’s Distribution Services include Regulatory Announcements,
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Language: English
Company: BRAIN FORCE HOLDING AG
Karl-Farkas-Gasse 22 / 4. OG
A-1030 Wien
Austria
Phone: +43 (0) 1 2630909-0
Fax: +43 (0) 1 2630909-40
E-mail: investorrelations@brainforce.com
Internet: www.brainforce.com
ISIN: AT0000820659
WKN: 919331
Listed: Wien (Amtlicher Handel / Official Market)

End of Announcement DGAP News-Service

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