Lintec Computer AG

euro adhoc: Lintec Information Technologies AG
Quarterly or Semiannual Financial Statements
LINTECÂ’s Interim Report on the First Six Months of 2003: Operationally profitable again, upwards trend confirmed, costs further reduced (E)

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Taucha, 14 August 2003: LINTEC Information Technologies AG
(Securities Code Number 648600, ISIN DE0006486004) achieved a group
surplus in Q2 2003 of EUR703,000, thus continuing the upwards trend
of the past few quarters. Despite the mainly seasonal drop in
turnover, the LINTEC Group scored positive earnings at all levels for
the first time since restructuring began. The progress made through
restructuring is apparent when comparing the last four six-monthly
periods:
~
Income statement key figures Q3-4/01  Q1-2/02  Q3-4/02  Q1-2/03
(EURÂ’000)
Turnover                                 171,342  119,485    84,912    58,004
EBITDA                                    (21,737)  (5,800)  (2,282)    4,114
EBIT                                        (24,626) (10,359)  (2,938)    2,901
Pre-tax profits (EBT)            (37,595) (22,882)  (4,259)    2,702
Net income / loss                  (25,919) (24,331) (10,563)      (569)
~
This persistent growth in income despite turnover declining by
two-thirds over the past two years results from increasingly
concentrating on the more profitable own-brand business and lower
costs brought about by more efficient Group structures. The figures
also benefited from writing back provisions no longer necessary in
subsidiaries and valuation adjustments in the investment segment.
Operating cash flow in the first six months of 2003 remained positive
at EUR7.4m (compared to EUR14.3m year-on-year). It was mainly used to
help pay off bank loans. Current bank liabilities were reduced from
EUR32.3m to EUR26.2m, while liquid funds remained more or less
constant at EUR6.4m (up from EUR6.1m). Personnel expenditure was
reduced in the first six months of 2003 by 25.3% year-on-year. The
number of employees in the LINTEC Group dropped from 460 at the end
of June 2002 and 388 at the end of the year to 306.
The full report on Q1 and Q2 2003 can be downloaded from
www.lintec.de. A printed version is available from the company on
request.

end of announcement            euro adhoc 14.08.2003
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Further inquiry note: LINTEC IT AG, DepÂ’t MarCom Tel. ++49/0 34298/71607 E-Mail: aktie@lintec.de

Branche: Computing & Information Technology
ISIN:      DE0006486004
WKN:        648600
Index:    CDAX, Prime All Share, Prime Standard, Technologie All Share
Börsen:  Frankfurter Wertpapierbörse / regulated dealing
              Niedersächsische Börse zu Hannover / free trade
              Berliner Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Hamburger Wertpapierbörse / free trade
              Börse DĂĽsseldorf / free trade
              Baden-WĂĽrttembergische Wertpapierbörse / free trade



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