InfoGenie Europe AG

euro adhoc: InfoGenie Europe AG
Annual Reports
Streamlining measures at InfoGenie proving successful Improved revenues and earnings - capital measures implemented (E)

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Berlin, April 30, 2003 - The streamlining measures initiated last year at InfoGenie Europe AG (SIN 747 206) are beginning to bear fruit. In fiscal 2002 work procedures were optimized, the workforce was reduced to a core team and further cuts were imposed on spending. As a result, the company’s cash burn rate was lowered by 76.8%, to EUR 1.8 million. The operating result improved by 15.3% and revenues climbed by 7.8%, bucking the generally poor trend in the industry as a whole. Board member Thomas Dehler now believes it will be possible to reach break-even point in the first semester of 2003.

In presenting its annual financial statements, InfoGenie also took
additional risks off its balance sheet. For instance, the
amortization of goodwill came to EUR 1,288 k. While this depleted the
company’s balance-sheet equity by the end of the year, the capital
measures agreed last year have meanwhile been effectively entered in
the Commercial Register; as a result, raising the company’s common
stock by EUR 7.25 million, to EUR 8,308,947. These capital measures
are primarily backed by strategic investor ebs Holding AG, which now
holds over 90.9 per cent of the company’s shares. InfoGenie is now
making every effort to have the new shares listed for trading on the
stock market.
~
Key figures (in EUR k)                                  2002    2001
Total revenues                                                2,971  2,755
Earnings before taxes                                    -3,893 -4,653
Financial resources                                        294      1,269
Shareholders’ equity                                      -98*    3,046
Total assets                                                  1,733  4,497
Cash flow from ordinary business activities -1,844 -4,003
Earnings per share (in EUR) **                         -0.87  -0.73
~
* Shortfall not covered by equity amounts to EUR 98 k
** The increased loss per share was the result of the 6:1 capital
reduction effected in November.

end of announcement            euro adhoc 30.04.2003
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Further inquiry note: InfoGenie Europe AG Thomas Kruithof IR-Manager Tel.: +49(0)30 726102-122 ir@infogenie.com

Branche: Telecommunications Services
ISIN:      DE0007472060
WKN:        747206
Index:    Prime Standard
Börsen:  Frankfurter Wertpapierbörse / regulated dealing
              Niedersächsische Börse zu Hannover / free trade
              Berliner Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Hamburger Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Baden-Württembergische Wertpapierbörse / free trade



Weitere Meldungen: InfoGenie Europe AG

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