Ad-hoc | 24 July 2003 07:00

realTech AG english

REALTECH: Preliminary half-year and quarterly figures for 2003 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– -Revenues down 5% -Improvement in income from operations and net liquidity -Net income greatly affected by investment depreciation Walldorf, July 24, 2003. REALTECH AG`s revenues fell in the 1st half of 2003 by 5% to EUR 27.7m (1st half of 2002: EUR 29.1m). Software revenues increased slightly to EUR 4.0m (EUR 3.9m), while consulting revenues fell by 6% to EUR 23.7m (EUR 25.2m). EBITDA rose to EUR 1.8m (EUR 1.6m), while EBIT rose to EUR 0.3m (EUR 0.1m). When comparing these figures, you should bear in mind that – seeing as the software theGuard! developed in house had become ready for marketing – REALTECH has not capitalized any further development expenditure in accordance with US GAAP since the fourth quarter of 2002. Compared to the same quarter in the previous year, this has resulted in EBIT falling by EUR 0.5m so far in 2003. Consolidated net income amounts to minus EUR 0.9m (minus EUR0.3m), while earnings per share are minus EUR 0.19 (minus EUR 0.06). The company has achieved a cash flow of EUR 2.5m (EUR 3.0m). At the end of June 2003, net cash and cash equivalents were EUR 18.2m, compared to EUR 16.6m at the end of 2002. 2nd quarter of 2003: Revenues fell by 6% to EUR 14.2m (from EUR 15.2m in the first half year of 2002). As a result of customers postponing investments, software revenues fell 22% to EUR 2.0m (EUR 2.6m). Despite pressure on daily rates, consulting revenues – at EUR 12.3m – were only slightly below the figure in the previous year (EUR 12.6m). Decreases were recorded in terms of EBITDA – from EUR 1.5m to EUR 1.1m – and EBIT – from EUR 0.7m to EUR 0.4m. If the company had continued to capitalize development expenditure as in the previous year, income from operations would have been EUR 0.3m higher. As a result of depreciation of interests in Grau Data Storage AG to the amount of EUR 0.7m, consolidated net income dropped to minus EUR 0.6m (EUR 0.1m), corresponding to earnings per share of minus EUR 0.11 EUR (EUR 0.03). Even though the economic situation remains tense, REALTECH still expects to achieve the revenue and income targets it has set itself for fiscal year 2003. The report on the 2nd quarter of 2003 is scheduled to be published on August 7, 2003. Contact person: Volker Hensel, Investor Relations, REALTECH AG, 69190 Walldorf Tel.: +49 6227 837 500, Fax: +49 6227 837 9 134 end of ad-hoc-announcement (c)DGAP 24.07.2003 ——————————————————————————– WKN: 700890; ISIN: DE0007008906; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 240700 Jul 03