Ad-hoc | 14 August 2002 08:29

plenum AG english

plenum profitable despite declining sales Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– plenum profitable despite declining sales – Sales of EUR24.1 million (previous year: EUR32.6 million) – EBITDA of EUR1.9 million (previous year: EUR3.1 million) – Net income for the period of EUR1.3 million (previous year: EUR1.3 million) – Net cash of EUR7.0 million (previous year: EUR4.2 million) – Equity ratio of 72% (previous year: 61%) Wiesbaden, August 14, 2002 plenum AG generated sales of EUR24.1 million and earnings (EBITDA) of EUR1.9 million in H1 2002. With an operating margin of 8%, plenum once again outlined its earnings performance despite the recession and was able to increase net cash year-on-year by more than 70%, from EUR4.2 million to EUR7.0 million. With a debt ratio approx. to “zero”, the company was able to increase its equity ratio by 11 percentage points to 72%. Despite declining sales mainly caused by the drop in the agency business, the company was able to maintain the net income for the period at the same level as previous year, or EUR1.3 million (previous year: EUR1.3 million). This resulted in an increase in the net margin to 5% (previous year: 4%). Earnings per share stood at EUR0.13 (previous year: EUR0.13) for 9,577,068 no-par value shares in each case. The disinvestment of unprofitable business units (for example, plenum New Venture, plenum Systems Switzerland), the closure of locations (for example, Berlin), as well as a reduction in staff to 347 employees (previous year: 468) were crucial in achieving such a stable earnings developement. In light of the continuing recession, in context with significant IT budget cuts and a drastic drop in the advertising and online markets, the Managing Board no longer expects revenues to increase in the second half. Contrary to plan, the large project business, which is already up and running, is unlikely to be able to compensate for either the unexpectedly sharp decline in agency business or the short-term project postponements and cancellations in the systems business in the current fiscal year. In light of this latest development, the Managing Board has revised corporate planning for the present fiscal year: the sales forecast now stands at EUR45 million (previously: EUR70 million) and the earnings forecast (EBITDA) at EUR3.0 million (previously: EUR5.5 million). end of ad-hoc-announcement (c)DGAP 14.08.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Teleconferences with Hartmut Skubch (CEO) and Thomas Reuther (CFO) will be held on August 14, 2002 at 10.00 a.m. for analysts and at 12.00 a.m. for the press. The teleconference access number can be obtained on +49 611 9882 229. The full half-year report will be published on the Internet on August 20, 2002. ——————————————————————————– WKN: 690100; ISIN: DE0006901002; Index: Listed: Neuer Markt Frankfurt; Freiverkehr in Düsseldorf, München, Hamburg, Berlin, Bremen, Hannover und Stuttgart 140829 Aug 02