Ad-hoc | 30 April 2002 08:37

NorCom Info. Tech. AG english

NorCom announcing figures for 2001: Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– NorCom announcing figures for 2001: – Revenues of EUR 32.5 million despite weak market setting – EBITDA: EUR -8.3 million – Extraordinary non-scheduled charges exert pressure on EBIT and net earnings for year Munich, April 29, 2002 – Last fiscal year NorCom Information Technology AG was able to maintain its position in the market in spite of extremely difficult market conditions. 2001 revenues stood at EUR 32.5 million, compared to EUR 34.2 million in 2000. Whereas product business felt the effects of the general spending restraint on the part of banks and financial-services providers, consulting business grew by a substantial 17 %. Total output amounted to EUR 35.3 million (2000: EUR 36.5 million). Loss at the EBITDA level equaled EUR 8.3 million, compared with a loss of EUR 0.7 million in the previous year. In addition to scheduled depreciation and amortization of EUR 4.1 million (2000: EUR 2.2 million), the Company also wrote down non-scheduled charges on goodwill not affecting cash, current own work and financial assets for an amount of EUR 14.2 million. These non-scheduled charges cover discernible risks in connection with equity interests and trade receivables. As a result, the Company currently assumes that no further non-scheduled charges will be necessary for the foreseeable future. This puts EBIT after non-scheduled charges at EUR 24.5 million (2000: EUR -2.9 million). Cash flow from operating activities amounted to a positive EUR 1.1 million (after EUR -10.8 in the previous year). Liquid funds, including securities held as current assets, stood at EUR 17.3 million as at December 31, 2001. This means that the Group possesses ample liquidity. NorCom at a glance: (in EUR millions) 2001 2000 Revenues 32.5 34.2 EBITDA – 8.3 – 0.7 Loss(EBIT) after scheduled depreciation -24.5 – 2.9 Net loss for the year -28.2 – 1.5 Cash flow from operating activities 1.1 -10.8 You can download this text