Plenum AG

Earnings Release • May 28, 2004

News Details

Ad-hoc | 28 May 2004 08:30

plenum AG optimistic following Q1 revenue development

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– plenum AG optimistic following Q1 revenue development – Revenues climb to EUR 10.7 million – Order backlog increased to EUR 20.3 million – Earnings impacted by higher risk provisions Wiesbaden, May 28, 2004 plenum AG generated revenues of around EUR 10.7 million in the first three months of financial year 2004 – a rise of 13% as against the previous quarter (EUR 9.5 million) and also a slight increase as against the previous year (EUR 10.6 million). Given the continued muted demand, this positive development and the order backlog rise from EUR 10.6 million (December 31, 2003) to EUR 20.3 million (March 31, 2004) should be seen as positive signals for future business developments in 2004. The cautious assessment of the probability of risks occurring is a key principle of corporate management at plenum AG in the interests of a medium- and long- term increase in the Company’s value. In view of this, the Company had to increase risk provisions by EUR 0.5 million in Q1, particularly for existing large projects. No further impact on earnings is expected in the following quarters from these risks. Earnings before interest, taxes, depreciation and amortization (EBITDA) thus amounted to EUR -0.1 million after three months, as against EUR 0.4 million in the same period of the previous year. After three months, plenum’s net loss for the period totaled approximately EUR -0.3 million (previous year: net income for the period of EUR 0.1 million). Earnings per share amounted to EUR -0.03 after three months (previous year: EUR 0.01) for 9,577,068 no-par value shares in each case. No reliable outlook for financial year 2004 can be given at present since the economy remains subdued and, as a result, customers are reluctant to invest. However, the Managing Board currently has no reason to believe that the Company will not match the previous year’s revenues and earnings given the high level of booked business and its systematic risk management. The full quarterly report for Q1 2004 is available online at http://www.plenum.de from May 28, 2004 . end of ad-hoc-announcement (c)DGAP 28.05.2004 ——————————————————————————– WKN: 690100; ISIN: DE0006901002; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard) und Stuttgart; Freiverkehr in Berlin-Bremen, Düsseldorf, Hamburg, Hannover und München 280830 Mai 04