Ad-hoc | 27 March 2003 07:30

Gericom AG english

GERICOM exceeds sales expectations for 2002 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– GERICOM exceeds sales expectations for 2002 Total revenues amount to EUR 544.1m (2001: EUR 539.9m) – Annual net profit of EUR 18.6m (2001: EUR 18.4m) – Net earnings per share of EUR 1.71 (2001: EUR 1.69) – Dividend increase to EUR 0.80 (2001: EUR 0.65) proposed Following a quarter recording the highest sales in company history, GERICOM AG has managed to exceed the sales expectations for the 2002 financial year. According to the final figures (according to US-GAAP) presented at the press conference on financial statements in Frankfurt, the total revenues in 2002 increased to EUR 544.1m, thus clearly being above the advised 500-million-Euro mark. Accordingly, the annual net profit also saw a slight improvement as against the previous GERICOM record year in 2001, gaining 1.0 per cent to report EUR 18.6m. The net earnings per share increased to EUR 1.71 (2001: EUR 1.69). Against this background, the Managing Board and the Supervisory Board will propose to the shareholders’ meeting a dividend increase to EUR 0.80 per share (2001: EUR 0.65). Thanks to spectacular sales campaigns in Germany and further progress in regard to the European expansion, GERICOM managed to attain sales of just under EUR 200m in the fourth quarter of 2002, being 24.5% more than in last year’s record quarter. The sustained growth could also be seen in the figure for the orders on hand, which, compared to the previous year, had quadrupled by the end of the year, recording EUR 53.1m. Intensified competition in conjunction with the generally bad economic setting in 2002 led to overall pressure on the margins. At the same time, the successful European expansion strategy necessitated higher expenditure for staff and sales. Therefore, despite a positive sales trend, the operating result (EBIT) of GERICOM AG fell from EUR 26.5m in the previous year to EUR 23.8m. However, irrespective of the unfavourable general economic setting, GERICOM is set to continue its course towards growth and international expansion in 2003. In view of the excellent orders situation, the company is confident that it will be able to achieve an increase in sales of around 15 per cent. end of ad-hoc-announcement (c)DGAP 27.03.2003 ——————————————————————————– WKN: 565773; ISIN: AT0000729108; Index: Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 270730 Mär 03