Lintec Computer AG

euro adhoc: Lintec Information Technologies AG
Quarterly or Semiannual Financial Statements
LINTEC: Return to operating profit . Very good orders position. Operative planning for the year confirmed. Further non-cash-effective depreciations carried ou

--------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------- In the course of Q3 2002, the LINTEC Group managed to return to profit. Quarterly turnover further declined as expected, totalling Eur38.8 million according to plan and totalled Eur38.8 million (Eur49.8 million in the previous quarter). EBITDA within the group were Eur0.9 Mio. EUR, an indication of the efficiency of the restructuring process underway. In Q2, EBITDA without special facts was still negative, amounting to -Eur0.4 million. According to current projections, the LINTEC Group will further boost this positive trend in the course of Q4 2002, and is likely to achieve a noticeably improved operating result. Turnover after the first three quarters of 2002 was Eur158.3 million (compared to Eur268.2 million a year ago) while the operating loss was reduced to -Eur4.9 million (-Eur0.1 million). Compared with the previous quarter, current liabilities as of the balance sheet date 30 September 2002 went down from Eur58 million to Eur53.5 million. At the end of 2001 LINTEC still had current liabilities totalling Eur87.8 million. Current and non-current liabilities to banks dropped by Eur1.8 million, thus reducing faster than cash and cash equivalents. As of the balance sheet date they had gone down by Eur0.8 million to Eur5.3 million. In the period under review, further non-cash-effective depreciations were carried out. For reasons of commercial prudence, the Board has decided to fully write off the goodwill of LINTEC subsidiaries Batavia and rfi, even though both companies are still operating. This and the depreciation of development costs of nearly Eur1 million capitalised in 2000 reduces the operating result by Eur2.6 million. The operating result (EBIT) after three quarters amounts to -Eur13.9 million (-Eur2.7 million). Moreover, owing to the changes in the tax legislation expected by the Board for the year 2003, LINTEC has prudently reversed capitalised deferred taxes as of the balance sheet date amounting to Eur3.0 million. All depreciations mentioned dragged the IAS result of the group down more than had been expected. As a result, the existing 2002 LINTEC planning for EBIT and IAS result cannot be reached. However, adjusted for the effects mentioned, the Board confirms the published planning and continues to expect to break even in both the operating and the group result in 2003. The detailed report on the quarter will be available for download at http://www.lintec.de from 25 November 2002. Its printed version can be obtained from our company. Please contact: LINTEC Information Technologies AG, IR/PR Dept., Tel. ++49 (0) 34298 71607, Fax 71372, e-mail: aktie@lintec.de, web: www.lintec.de end of announcement euro adhoc 21.11.2002 --------------------------------------------------------------------- Further inquiry note: Herr Ralf Naumann Branche: Computing & Information Technology ISIN: DE0006486004 WKN: 648600 Index: Nemax All Share Börsen: Baden-Württembergische Wertpapierbörse / free trade Bayerische Börse / free trade Berliner Wertpapierbörse / free trade Börse Düsseldorf / free trade Hamburger Wertpapierbörse / free trade Niedersächsische Börse zu Hannover / free trade Frankfurter Wertpapierbörse / Neuer Markt

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