Lintec Computer AG

euro adhoc: Lintec Information Technologies AG
Annual Reports / Ad-hoc Press Release by LINTEC Information Technologies AG (WKN 648 600, ISIN DE0006486004) in accordance with §15 of the Securities Trade Act. Annual Accounts 2004: sales target of euro 1

--------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. --------------------------------------------------------------------- 31.03.2005 Today's balance sheet press conference will present the company's year-end accounts for 2004. Although the company was able to achieve the sales target of euro 15.5 million, it missed its target of breaking even in 2004 by a wide margin with an operating profit of euro -5.5 million. The following table presents a comparison of key balance sheet figures: ~ 2004 2003 Change EUR'000 EUR'000 Revenues 15,502 94,190 -83.5% Earnings before interest and tax (EBIT) -5,483 -11,173 50.9% Earnings before tax (EBT) 8,878 -13,680 Consolidated net profit/loss 7,930 -16,990 Net income per share 0.95 EUR -2.03 EUR Operating cash flow before interest and taxes -1,435 5,526 Balance sheet total 18,061 32,207 -43.9% Annual average of employees 150 286 -47.6% of which trainees 15 31 -51.6% Employees as of 31 December 144 208 -30.8% ~ There are two main reasons for the drop in turnover. As planned, LINTEC refrained from low-margin mass sales of PCs in 2004, taking into account all follow-up expenditure. The main reason, however, was the lack of contract financing. LINTEC's operative business was chiefly governed by liquidity rather than market demands. In particular during the last four months of the financial year, the company was unable to accept orders already submitted since the required bridge financing liquidity was simply not available. In the face of these facts, the management is working intensively on finding solutions to improve the liquidity situation. During the past financial year, the company showed annual earnings of EUR 7.9 million (EUR EUR16.9 million annual deficit in the previous year). A chief portion of this profit is the result of the oneoff effect of the transaction with DKB AG and DKB Finance GmbH in June 2004. The object of this transaction was the sale to DKB Finance GmbH (Berlin) of the 86.25 % share which LINTEC held in MVC AG from Taucha. Among the benefits achieved in the course of the sale of MVC AG was the discharge of the short term credits for LINTEC AG at a volume of approx EUR 7 million. As a result, the company is now almost debt-free, with the exception of the loan for the company property which is refinanced by the reconstruction loan corporation KfW. Moreover, the spinning-off of MVC AG had a positive effect on the earnings before tax. In summary we can conclude that, following the restructuring process of the past years, the company has created all the conditions necessary for a successful business year 2005. As a nearly debt-free company, LINTEC will once more be of greater interest to the capital market. Moreover, the successful positioning of the new lines of business, "PC & Home Entertainment Products" and "Production & Logistics", will facilitate an increase in profitability which in turn will contribute to a turnaround in the running financial year. For further information, please log on to our web site at where, in the course of the day, we will post additional information on the balance sheet press conference. end of announcement euro adhoc 31.03.2005 17:48:57 --------------------------------------------------------------------- Further inquiry note: LINTEC Information Technologies AG, Investor Relations, Phone: ++49/(0) 34298-71-607, Fax: -372. E-mail:, Web: Branche: Computing & Information Technology ISIN: DE0006486004 WKN: 648600 Index: Prime Standard, CDAX, Prime All Share, Technologie All Share Börsen: Frankfurter Wertpapierbörse / regulated dealing Berliner Wertpapierbörse / free trade Hamburger Wertpapierbörse / free trade Baden-Württembergische Wertpapierbörse / free trade Börse Düsseldorf / free trade Niedersächsische Börse zu Hannover / free trade Bayerische Börse / free trade

Das könnte Sie auch interessieren: