Ad-hoc | 22 May 2001 08:27

Ad hoc-Service: BOV AG english

Ad hoc announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Sales and earnings in 1st quarter higher than expected Temporary slow-down in growth expected in 2nd and 3rd quarters BOV has entered the new financial year 2001 with success. In the first three months of this year, the company, which specialises in e-services, has exceeded expectations both for sales and for earnings. Group sales to the sum of EUR 7.8 million increased by 56 % in comparison with the same period last year (EUR 5.0 million). The EBITDA earnings (earnings before interest, taxes, depreciation and amortisation) at EUR – 0,4 million were distinctly higher than expected. Because of the current reticent inclination to invest in the IT market, the start of some individual major products at BOV has been delayed. As a result, it is foreseeable that growth will slow down in the 2nd and 3rd quarters of this year. Against this backdrop, we are reducing our on-target sales revenues for 2001 from EUR 39.0 to EUR 40,5 million to expected sales of EUR 36,0 to EUR 37,5 million. On this basis we anticipate the EBIT earnings (earnings before interest and taxes) will be between EUR -2.3 and EUR -1.5 million. With the addition of amortisation and depreciation, for the most part goodwill, we estimate that the EBITDA earnings will be positive between EUR 0.6 and EUR 1.4 million. Despite the current weakness of its market situation. BOV will continue to pursue the strategy of intensifying product development and business development, as already introduced. The Business Development sector is focussing on strategic advisory services and the acquisition of major projects in the Enterprise IT sector. BOV expects better growth again in the 4th quarter accompanied by a distinct upswing trend in operational business. Contact: BOV Aktiengesellschaft Frank Neikes Alfredstraße 279 45133 Essen Telefon: 02 0 1/45 13-121 Telefax: 02 0 1/45 13-465 frank.neikes@bov.de end of ad hoc announcement (c) DGAP 22.05.2001 ——————————————————————————– WKN: 549 370; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München , Stuttgart, Hannover 220827 Mai 01