Ad-hoc | 20 August 2004 07:54

ORBIS projects positive annual results despite drop in revenue

Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– ORBIS projects positive annual results despite drop in revenue Saarbrücken, August 20, 2004. – As of June 30, 2004, ORBIS AG reported consolidated sales to the tune of EUR 10.518 million for the first six months of the 2004 fiscal year (previous year: EUR 11.049 million). These sales were primarily generated by consultancy projects in the company’s focus sectors: industrial companies, automotive suppliers, the consumer goods industry, and the commerce sector. The consolidated results for the period under review totaled minus EUR 67,000 (previous year: EUR 588,000). With 9.1 million subscribed shares, this result corresponds to a loss per share of minus EUR 0.007 (previous year: EUR 0.065). The operating result (EBIT) for the first six months totaled minus EUR 95,000 (previous year: EUR 228,000). This result is also due to project delays and postponements on the part of clients. However, ORBIS adheres to its professed goal of “positive annual results.” This equity ratio increased to 58.3 % compared with the same period of the previous year (52.4 % as of June 30, 2003). During the reporting period, shareholders’ equity totaled EUR 16.130 million (December 31, 2003: EUR 16.206 million). The scheduled repayments of long-term loans and the investments resulted in a EUR 1.287 million reduction in cash and cash equivalents during the first six months of 2004, compared with the annual financial statements for 2003. The cash flow from operating activities amounted to minus EUR 1.268 million (previous year: EUR 17,000), resulting largely from the establishment of a trade accounts receivable portfolio. As of the reporting date June 30, 2004, the ORBIS Group already boasts an order level that is equivalent to 79 % of the planned total annual sales for 2004. The changes in cost structures and the high level of cost-consciousness have resulted in significant savings. As a share of all sales revenue, a personnel expense ratio of 66.9 % was achieved for the first six months of 2004 (previous year: 67.7 %). As of the reporting date June 30, 2004, ORBIS employed 192 staff. With other operating expenses amounting to EUR 2.605 million, savings to the tune of 21.5 % over the same period 2003 were in fact realized. The Management Board has resolved to utilize the authorized capital by issuing up to 250,000 new bearer common stock to employees. In addition, the Management Board resolved to issue up to 400,000 options to employees as part of the Stock Option Plan 2004. The Supervisory Board has approved both measures. For more information contact: http://www.orbis.de Or Dr. Sabine Stürmer, Head Investor Relations of ORBIS AG Ph.: +49 (0)681 99 24 605, e-mail: sabine.stuermer@orbis.de end of ad-hoc-announcement (c)DGAP 20.08.2004 ——————————————————————————– WKN: 522877; ISIN: DE0005228779; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 200754 Aug 04