USU Software AG — Earnings Release 2001

Feb 28, 2002

News Details

Ad-hoc | 28 February 2002 07:36

Openshop Holding AG english

Openshop Holding AG Announces Sales and Earnings for Fiscal 2001 Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Openshop Holding AG Announces Sales and Earnings for Fiscal 2001 Neu-Ulm, February 28, 2002 According to preliminary unaudited figures, Openshop Holding AG, Neu-Ulm, recorded sales of EUR 3.5 million in fiscal 2001 after EUR 6.6 million in the prior year. In consideration of restructuring costs, the loss from ordinary activities increased from EUR 12.6 million in the prior year to EUR 29.2 million in fiscal 2001. In addition to the lower than expected sales revenues, the primary reasons for the negative results included the extensive restructuring measures implemented in 2001, in particular for staff cuts and special depreciation allowances and other valuation allowances, as well as measures for repositioning the strategic business units of the company. On December 31, 2001, the Openshop Group had 161 employees. By the end of March 2002, the number of employees will be reduced to about 90 employees. On December 31, 2001, liquid assets amounted to EUR 60.9 million and shareholders’ equity was EUR 60.8 million. The equity ratio was 86.5%. Contact: Tanja Schneider (IR), Openshop Holding AG phone: +49 (0) 731 1553-355 e-mail: t.schneider@openshop.com http://www.openshop.com end of ad-hoc-announcement (c)DGAP 28.02.2002 ——————————————————————————– WKN: 780470; ISIN: DE0007804700; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 280736 Feb 02