Ad-hoc | 15 November 2002 08:25

Nemetschek AG english

Nemetschek: Nine months results Jan. to Sept. 2002 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Nemetschek’s restructuring program takes effect / 2002 sales and earnings below plan / Return to profitability in 2003 Munich, November 15, 2002. Nemetschek’s restructuring measures take effect. The central aspects of these measures are another reduction in personnel of about 200 employees and a strict cost-cutting program. During the first nine months of the 2002 business year, these measures led to a reduction in operating expenses of EUR 10 million (without special charges and excluding goodwill amortization). 2002 remains difficult for the Nemetschek Group. Nemetschek continues to suffer the consequences of the economic and structural crisis in the German construction industry and the enduring reluctance to invest in the IT sector. As of Sept. 30, 2002, sales revenue totaled EUR 77.2 million, a figure that is 17.1 % lower than in 2001 (EUR 93.1 million). The operating profit (EBIT) totals EUR -8.8 million (2001: EUR -30.5 million, incl. special goodwill amortization) and is negatively affected by special charges in the amount of EUR 5.4 million that are part of the restructuring program (EUR 2.9 million for personnel expenses and EUR 2.5 million for goodwill amortization and depreciation of tangible assets). The EBIT before special charges amounts to EUR -3.4 million. Earnings before depreciation (EBITDA) amount to a total of EUR -0.6 million (previous year: EUR 8.1 million); without special charges: EUR 3,0 million. The net loss amounts to EUR -11.7 million (2001: EUR -40.8 million, incl. special goodwill amortization); without special charges: EUR -4.5 million. Despite the EUR 11.7 million loss for the year, Nemetschek was able to realize a cash flow from operating activity in the amount of EUR 8.6 million (2001: EUR 7.1 million). As of September 30, 2002, liquid assets totaled EUR 18.7 million. Equity capital amounted to EUR 52.5 million, which corresponds to an equity ratio of 62%. Due to the difficult economic conditions, the Nemetschek Board does not expect short-term improvements during 2002 and predicts Group sales amounting to about EUR 100 million and an operating profit before special charges in the amount of about EUR -4 million. The Board also expects a return to profitability in 2003. Contact: Investor Relations, Mr. Richard Höll, Nemetschek AG, phone: +49 (0)89/92793-1219, fax: -5520, e-mail: Investorrelations@nemetschek.de end of ad-hoc-announcement (c)DGAP 15.11.2002 ——————————————————————————– WKN: 645290; ISIN: DE0006452907; Index: Listed: Neuer Markt Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 150825 Nov 02