euro adhoc: Softing AG
Quarterly or Semiannual Financial Statements
Operational Targets will be Reached
Additional Restructuring Expenditures in 2002 (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
In the second quarter, the Softing Group achieved a sales revenue of 4.8 million EUR (in 2001: 4.9 million EUR). For the first six months, the revenue amounted to 8.2 million EUR (in 2001: 9.1 million EUR). The operating result of the Softing Group ran to -0.9 million EUR during the second quarter (in 2001: -0.7 million EUR) and during the first two quarters of the current financial year to -2.2 million EUR (in 2001: -1.6 million EUR).
The -2.2 million EUR operating result includes restructuring expenditures amounting to 0.3 million EUR. To create the prerequisites for a positive operating result and cash flow in 2003, there will be non-recurrent special expenditures amounting to 1.2 million EUR during the second half of 2002. These special expenditures will consist both of expenses affecting liquidity, such as personnel layoffs, and expenses not affecting liquidity, such as depreciation of product developments.
The incoming orders developed in a very positive manner throughout the Group during the past quarter, both in trend and in absolute numbers. During the second quarter of the year, incoming orders of the Softing Group amounted to 6.1 million EUR (in 2001: 4.0 million EUR) and during the first six months, to 9.8 million EUR (in 2001: 8.1 million EUR). The incoming orders include 0.8 million EUR for the large order by the city of Bruneck, Italy, for its new district heating network. Due to the increase in orders received during the past quarter, new acquisition possibilities in the project business and the effects of restructuring, which will begin to influence results as of the fourth quarter, the Executive Board of Softing AG proceeds on the assumption that the operational targets in turnover (20 million EUR) and operating result (-1.9 million EUR) will be reached. The crucial factor, however, will be the investment climate during the next six months. At the end of the year, equity capital will amount to approx. 15 million EUR, i.e. 3 EUR per Softing share. The liquid funds of Softing AG currently amount to nearly 5 million EUR with a market capitalization of 5.5 million EUR (stock price 1.10 EUR). The quarterly report 2/2002 of Softing AG can be downloaded as a pdf file from the Investor Relations page of the Softing Web site (www.softing.com).
end of announcement euro adhoc 06.08.2002
Further inquiry note:
Dr. Stephan Fickel
Branche: Software
ISIN: DE0005178008
WKN: 517800
Index: Nemax All Share, Nemax Technology
Börsen: Frankfurter Wertpapierbörse / Neuer Markt
Baden-Württembergische Wertpapierbörse / free trade
Bayerische Börse / free trade
Berliner Wertpapierbörse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Börse Düsseldorf / free trade
Hamburger Wertpapierbörse / free trade
Original content of: Softing AG, transmitted by news aktuell