Softing AG — Earnings Release 2004

Feb 16, 2005

News Details

Ad-hoc | 16 February 2005 07:52

Softing AG: 2004 – a profitable year / Growth spurt expected for 2005

Ad hoc announcement §15 WpHG Periodenergebnisse Softing AG: 2004 – a profitable year / Growth spurt expected for 2005 Ad hoc announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— Based on preliminary figures, fiscal 2004 has been a profitable year for Softing with an impressive increase in earnings. At EUR 0.76 million (2003: EUR – 0.4 million), the operating income was clearly in the black. Fiscal 2004 marks the first year since Softing’s IPO in 2000 that the Softing Group achieved positive earnings. The operating income in the fourth quarter came in at EUR 0.4 million (2003: EUR 0.1 million). Continuing the positive trend from the first three quarters of fiscal 2004, the Softing Group posted encouraging results in the fourth quarter, too. Despite a weak economy, Softing recorded sales revenues of EUR 5.7 million in the fourth quarter of 2004 (2003: EUR 5.9 million). As a result, sales revenues for the full fiscal year increased slightly to EUR 20.4 million (2003: EUR 20.3 million). The incoming orders in the Softing Group amounted to EUR 20.6 million in fiscal 2004 (2003: EUR 20.1 million). Softing was also able to boost its net income considerably to EUR 0.5 million (2003: net loss of EUR -0.5 million). The cash position of the Group thus improved further. Cash and cash equivalents at the end of 2004 amounted to EUR 6.3 million (2003: EUR 6.0 million), which represents an increase of EUR 0.9 million in the fourth quarter. The Softing Group had equity capital of EUR 12.4 million at the end of 2004, as compared to EUR 11.9 million the year before. In the past year, Softing’s markets were once again affected by a reluctance to invest on the part of industry as a result of the economic situation. However, the Executive Board of Softing AG is convinced that the economy will recover in 2005. Softing expects sales revenues to grow by more than 10 percent to EUR 23 million and anticipates an operating income in excess of EUR 1.0 million in fiscal 2005. The 2004 Annual Report can be downloaded in pdf format from the investor relations section at http://www.softing.com from late March 2005. Softing AG Richard-Reitzner-Allee 85540 Haar Deutschland ISIN: DE0005178008 WKN: 517800 Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, München und Stuttgart End of ad hoc announcement (c)DGAP 16.02.2005 160752 Feb 05