euro adhoc: IVU Traffic Technologies AG
Annual Reports
IVU Publishes 2005
Annual Report
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
15.03.2006
Turnaround accomplished Revenues have risen 17% EBIT and group result positive Good result forecast for 2006
IVU Traffic Technologies AG has turned its business around. This conclusion is drawn from the 2005 annual financial statements, which were approved today by the Berlin software companys supervisory board. Revenues rose substantially to EUR31.2 million, which is 17% higher than in the previous year. Gross profits - that is, the value created by the company - rose EUR0.9 million over 2004 figures, ending up at EUR23.2 million. EBIT was EUR1.0 million and the operating result EUR1.3 million, while costs continued to drop. IVU remains optimistic for the present year, anticipating a substantial increase in gross profits and thus a continuation of the positive trend.
Personnel expenditures declined another EUR2.5 million to EUR15.2 million in 2005, which was a further 14% decrease over the previous year. IVU nevertheless has boosted the quality of its team. These figures are the result of substantial cutbacks in the workforce: 51 departures, 38 of which were due to operational termination, were offset by 29 new hires; the share of computer scientists has risen from 8 % in 2002 to 27% today. This has strengthened the team and made it especially efficient in development and project implementation.
In addition to personnel costs, the 2005 fiscal year also saw a further EUR0.6 million reduction in other operating expenses, i.e. the companys costs for property and equipment, which amounts to 11 %. This made it possible to considerably improve the group result as depreciations continue to decline. In addition, the good year-end result and a capital increase in July helped boost equity by EUR3.7 million. Thus avoiding the danger of excessive indebtedness. The company once again can look forward to the future with optimism.
"Our confidence after the recent difficult years is due to three factors," says Prof. Dr. Ernst Denert, Chairman of the Board of IVU. "Firstly, we have a smaller yet more effective team. Secondly, we were able to further develop our products in terms of functionality and improve the quality. Thirdly, our customers remained loyal because we provide them with good service and support. We will continue in this direction."
IVU expects to remain in the black in the 2006 fiscal year. The company has a good order position. Taking assessed open tenders and business proposals into account, the sales proceeds planned for 2006 are already largely covered in March. Revenues will remain at approximately the same level as in the year just concluded, i.e. above EUR30 million. Gross profits amounting to EUR25 million are planned to be 9% higher than in 2005, which will substantially boost EBIT. IVU assumes that this positive trend will continue throughout 2006 and beyond.
On Wednesday, 15 March 2005, at 9:30 p.m., the complete annual report will be posted online at www.ivu.de.
end of announcement euro adhoc 15.03.2006 19:57:16
Further inquiry note:
Renate Bader
Tel.: +49 (0)30 859 06 800
E-Mail: rba@ivu.de
Branche: Computing & Information Technology
ISIN: DE0007448508
WKN: 744850
Index: Prime All Share, Technologie All Share, CDAX
Börsen: Frankfurter Wertpapierbörse / regulated dealing/prime
standard
Börse Berlin-Bremen / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Niedersächsische Börse zu Hannover / free trade
Bayerische Börse / free trade