Softing AG — Earnings Release 2003

Nov 13, 2003

News Details

Ad-hoc | 13 November 2003 08:06

Softing AG english

Softing AG: Very encouraging third quarter; Italian subsidiary to be closed Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– The Softing Group recorded incoming orders worth EUR 5.9 million in the third quarter of 2003 while incoming orders in the first nine months of the year totaled EUR 15.3 million (2002: EUR 14.9 million). Sales revenues in the Group amounted to EUR 5.0 million in the quarter under review. This brings the consolidated sales revenues for the first nine months to EUR 14.4 million (2002: EUR 13.0 million), an increase of more than 10 percent. The operating result was EUR 0.2 million in the third quarter and EUR -0.5 million in the first three quarters of the current fiscal year, which is an improvement of EUR 3 million versus last year (2002: EUR -3.5 million). At EUR 5.2 million, cash and cash equivalents were EUR 1.2 million higher than in the year before as of September 30, 2003. This means that the Softing Group was able to further increase its cash and cash equivalents in the past quarter. The management board and the supervisory board resolved to manage the Group’s business in Italy directly through Softing AG in the future. As a result, Softing Industrial Solution Italia Srl will be closed. In the fourth quarter, only minor costs of approximately EUR 50,000 are to be expected due to the closure of the subsidiary. The complete Quarterly Report 3/2003 can be downloaded from the investor relations section at www.softing.com from November 14, 2003. end of ad-hoc-announcement (c)DGAP 13.11.2003 ——————————————————————————– WKN: 517800; ISIN: DE0005178008; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 130806 Nov 03