PIERER Mobility AG

Earnings Release • Dec 19, 2012

Ad hoc announcement

BRAIN FORCE HOLDING AG / Keyword(s): Final Results/Weiteres Schlagwort

BRAIN FORCE HOLDING AG publishes Annual Report 2011/12

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 provider operating in Austria, Germany, Italy, the
Netherlands, Switzerland, the Czech Republic, Slovakia and the USA
announced the results for fiscal year 2011/12 (October 1, 2011 to September
30, 2012).

In fiscal year 2011/12 BRAIN FORCE has achieved a revenues growth of 7% and
again generated a positive operating result after the turnaround in the
previous year. 'After having to report a negative operating result in the
first quarter, the development was positive as of the second quarter with
continuously improving results' - Michael Hofer, CEO commented on the
consolidated financial statements of BRAIN FORCE HOLDING AG, which were
published today.

Due to the improving results BRAIN FORCE managed to compensate the
restructuring expenses booked in the first quarter and in total to report a
positive result after restructuring. In particular the implemented measures
in connection with distribution show a positive effect on the order balance
and distribution pipeline. 'This basis, resulting from the strengthening of
distribution shall also be implemented into measurable results in the next
quarters.' - Michael Hofer continued.

For fiscal year 2011/12 the BRAIN FORCE Group reported a revenue increase
by 7% to EUR 76.01 m. 'Despite difficult economic framework conditions,
especially in Italy and the Netherlands, our companies were able to prove
itself on the market and increase revenues in comparison to the previous
year.' - Michael Hofer gladly reports on the revenue increase. The
operating EBITDA (before restructuring expenses) amounted to EUR 2.74 m and
was thus about 13% below the figures of the previous year with EUR 3.13 m.
The operating EBIT was EUR 0.79 m, which is EUR 0.25 m below last year's
figures. 'The decrease of the operative result can be mainly attributed to
an increase in distribution expenses by EUR 0.91 m, respectively 14%,
whereas administration costs were reduced by 1%.' - reported Hannes
Griesser, CFO.

In fiscal year 2011/12 restructuring expenses in the amount of EUR 0.68 m
were recorded, resulting in a group-EBITDA of EUR 2.06 m and a group-EBIT
of EUR 0.11 m. The restructuring measures, which were implemented in the
first quarter concerned the business area FINAS in Germany. 'With the
expiry of short-time work we had to reduce the number of employees in order
to enable a sustainable positive development in this area. This measure had
already significantly positive effects on the following quarters.' - Hannes
Griesser reported.

Despite the positive operative development, the result before taxes
amounted to EUR -2.21 m compared to EUR -1.38 m in the reference period of
the previous year. The decline can be mainly associated with the
restructuring expenses incurred at a simultaneous slight improvement of the
at-equity result from SolveDirect Service Management GmbH from EUR -1.63 m
to EUR -1.49 m. The overall result amounted to EUR -2.14 m, compared to EUR
-1.39 m in the previous year.

Despite of a slight decline in comparison to the previous year, the balance
sheet ratios further showed solid figures. The equity ratio as of the
reporting date of September 30, 2012 amounted to 36% and the gearing to 36%
as well. The operating cash-flow of the BRAIN FORCE Group reached EUR +1.55
m, resulting in liquid assets as of the balance sheet date of EUR 5.62 m.
The net debt increased only slightly from EUR 5.82 m to EUR 5.98 m.

After having achieved an increase in revenues of 7% with a continuously
improving operating result in the past year, we expect operative growth
above the projected economic performance for the euro zone also for fiscal
year 2012/13. 'The prerequisite for this anticipation is a successful
market development and the expansion of our client base.' - Michael Hofer
continued

The Annual Report and the Annual Financial Statements 2011/12 can be
downloaded on the website www.brainforce.com.

Consolidated financial statements 2011/12 according to IFRS of BRAIN FORCE
HOLDING AG

Earnings data 2011/12 2010/11 Chg.

Revenues in EUR million 76.01 71.09 +7%

Operating EBITDA 1) in EUR million 2.74 3.13 -13%

EBITDA in EUR million 2.06 3.13 -34%

Operating EBIT 1) in EUR million 0.79 1.04 -24%

EBIT in EUR million 0.11 1.04 -89%

Result before taxes in EUR million -2.21 -1.38 -60%

Result after taxes in EUR million -2.13 -1.37 -56%

Dividend per share in EUR -0.14 -0.09 -56%

Adjusted earnings per share 1) in EUR -0.11 -0.09 -22%

Employees (on average) FTE 752 733 +3%

Balance sheet data 30.9.2012 30.9.2011 Chg.

Equity in EUR million 16.61 18.72 -11%

Net debt in EUR million 5.98 5.82 +3%

Equity ratio in % 36 38 -

Gearing in % 36 31 -

Net debt / Operating EBITDA in years 2.2 1.9 -

1) adjusted for restructuring expenses of -0.68 mio. EUR in fiscal year
2011/12

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Language: English
Company: BRAIN FORCE HOLDING AG
Am Hof 4/ 4. Stock
A-1010 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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