Corporate | 12 May 2004 09:05

A positive consolidated result for CANCOM in the first quarter of 2004

Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– A positive consolidated result for CANCOM in the first quarter of 2004 Jettingen-Scheppach, Germany, 12 May 2004 – As already reported, the consolidated sales of CANCOM IT Systeme AG amount to EUR 51.7 million in the first three months of 2004. This constitutes organic growth of 11 percent compared with EUR 46.6 million in the same period last year. Group EBITDA has improved by an impressive 60 percent from EUR 0.5 million in the first quarter of 2003 to EUR 0.8 million in the first three months of 2004. Although negative Group EBIT of EUR -0.1 million was reported in the first quarter of 2003, positive Group EBIT of EUR 0.4 million was realised in the first quarter of 2004. The Group’s result for the period under review is another positive omen. Despite reporting a loss of EUR -0.1 million in the first quarter of 2003, net income of EUR 0.1 million was realised during the first quarter of 2004. The Group balance sheet total declined sharply from EUR 58.9 million at 31 December 2003 to EUR 52.5 million at 31 March 2004. As a result, the CANCOM Group’s equity ratio has increased from 36.6 percent at 31 December 2003 to EUR 41.0 percent at 31 March 2004. In its assumptions for the year as a whole, the Executive Board anticipates that the initiated process of reducing the backlog of investment projects in the IT sector will stabilise and have further positive effects on the company’s business operations. The Apple PowerMac G5 computer business activities are running smoothly, and the expiry of a number of Microsoft software licensing agreements from mid-2004 onwards will further drive up sales because, based on past experience, customers generally conclude follow-up agreements. The CANCOM Group therefore anticipates that the organic growth target of between 10 and 15 percent will be met in the current financial year and be associated with stronger profitability. The quarterly report for the first three months of 2004 will be published on http://www1.cancom.de during the course of the day. For further information, please contact: CANCOM IT-Systeme AG Armin Blohmann Investor & Public Relations Messerschmittstrasse 20 D-89343 Jettingen-Scheppach, Germany Phone: +49 (0)8225 996 1051 Fax: +49 (0)8225 996 1033 E-mail to: armin.blohmann@cancom.de Information about CANCOM: CANCOM is one of the top 5 systems providers in Germany and offers its customers a comprehensive portfolio of IT services, extending from hardware and software (in both the PC and Apple environments), through IT consultancy and customer training to professional on-site technical support. As European market leader in the desktop publishing and media environments, CANCOM is the largest European partner of Apple and Adobe, and Microsoft’s biggest OPEN licensing partner in Germany. The fast-growing company employs around 450 staff and has locations in Austria, Germany, Switzerland and the United Kingdom. end of message, (c)DGAP 12.05.2004 ——————————————————————————– WKN: 541910 ; ISIN: DE0005419105; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover und Stuttgart 120905 Mai 04