Ad-hoc | 13 November 2003 08:01

SHS Informationssysteme english

Successful Restructuring of SHS AG: Positiv operating Cash Flow in Q3 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Successful Restructuring of SHS AG: Positiv operating Cash Flow in Q3 Munich, November 13, 2003 – SHS Informationssysteme AG today announced an again positive operating cash flow for the third quarter of 2003 thanks to excellent result figures. Earnings before interest, taxes, depreciation and amortization (EBITDA) in the third quarter were EUR 0.37 million, an improvement compared to the EBITDA of EUR 0.3 million that was achieved in the first six months of the current fiscal year. This development had a positive impact on the cash flow from operating activities, which amounted to EUR 0.32 million in the third quarter of 2003. Despite the persistently difficult overall economic situation in this year, the company’s total output in the first nine months of 2003 was EUR 22.4 million, almost the same as in the previous year (EUR 23.1 million). At EUR 0.67 million, the EBITDA for the first nine months of 2003 also remained almost the same as in 2002 (EUR 0.68 million). Earnings before interest and taxes (EBIT) for the first nine months were minus EUR 2.48 million, a slight improvement over last year’s figure of minus EUR 2.55 million. SHS achieved significant savings especially with regard to its operating expenses in the first three quarters of 2003: Despite one-time costs of EUR 0.4 million, personnel expenses were down to EUR 17.5 million (2002: EUR 18.0 million). The company was able to reduce its personnel expenses by approximately ten percent since the beginning of the year. Other operating expenses declined from EUR 4.7 million in 2002 to EUR 3.6 million in 2003. The positive result is an achievement of the success of the restructuring measures successfully carried out by the company in the current fiscal year. The positive figures underscore the potential of SHS Informationssysteme AG. Having received major orders from SHS customers such as Südleasing AG, BMW-Bank, Vodafone and Amena, the company’s management board has an optimistic outlook on the future development of the business. This view is also a result of the increased volume of the order backlog as of September 30, 2003, which totaled approximately EUR 5.3 million. end of ad-hoc-announcement (c)DGAP 13.11.2003 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: Further information: SHS Informationssysteme AG Wolfgang Brand Tel.: +49/89/74 72 57-20 Fax: +49/89/74 72 57-10 E-mail: wolfgang.brand@shs.de ——————————————————————————– WKN: 507240; ISIN: DE0005072409; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 130801 Nov 03