InfoGenie Europe AG

euro adhoc: InfoGenie Europe AG
Annual Reports
Restructuring Costs Burden Annual Result of InfoGenie (E)

--------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------- Berlin, 28th March 2002 - Significant restructuring costs have burdened the financial result of the Neue Markt-listed InfoGenie Europe AG (WKN 530990) in the year 2001. The loss amounted to 4.65 million EUR, compared to 2.3 million EUR in the year 2000. In the latter half of 2001, the new Management under the leadership of Lynex Owens had introduced a comprehensive restructuring programme to lead the company into sustainable growth. The restructuring costs include one-time expenditures for the termination of old activities and accruals for legal proceedings of the former management as well as extra-budgetary amortization of goodwill. During the same period, the company and its subsidiaries achieved a turnover of 2.75 million EUR. This is a plus of about 60 % compared to the previous year. The increase was achieved essentially in the business to business field which accounts for more than 90 % of InfoGenie’s business. The failures of InfoGenie typical for Neue Markt-companies are now overcome according to Owens. For the entire year, the Management is expecting a turnover increase of approximately 40 % for Germany and more than 50 % for the United Kingdom, which will result in positive earnings in the foreseeable future. end of announcement euro adhoc 28.03.2002 --------------------------------------------------------------------- Further inquiry note: Bernd Wilmer Director Communications Tel.: 030.726102-122 Fax: 030.726102-199 eMail: presse@infogenie.com Branche: Telecommunications Services ISIN: DE0005309900 WKN: 530990 Börsen: Baden-Württembergische Wertpapierbörse, Bayerische Börse, Börse Düsseldorf, Bremer Wertpapierbörse (BWB), Hamburger Wertpapierbörse, Handelsüberwachung der Berliner Wertpapierbörse, Niedersächsische Börse zu Hannover, Frankfurter Wertpapierbörse

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