caatoosee ag

euro adhoc: caatoosee ag
Quarterly or Semiannual Financial Statements
Exceptional items and restructuring affect semi-annual results (E)

--------------------------------------------------------------------- Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. ---------------------------------------------------------------------

[30.11.2001 - 11:10]

Leonberg (ots-euro adhoc) -

In the second quarter of fiscal 2001/2002, caatoosee continued with the Group-wide implementation of its restructuring programme "focus". The main rationale behind the programme, which is to be completed by the end of the current financial year, is to focus the Group's activities on the core business areas of Information Logistics and Business Integration, with a strong emphasis on markets within the German-speaking region. Committed to achieving break-even as quickly as possible, caatoosee has reviewed the Group's full range of activities and has successfully forged ahead with its plans for restructuring.

Due to the planned retransfer of the company's shareholding in Sigma, revenues attributed to the Sigma Group will no longer be disclosed in the second quarter. caatoosee's consolidated revenues for the second quarter amounted to 4.9 million Euro, compared with 3.2 million Euro in the same period in fiscal 2000/2001. Despite recording a lower gross margin relative to the first half of 2000/2001, gross profit was raised by a considerable level vis-à-vis the previous quarter. Moreover, compared with the first quarter of the current financial year, caatoosee was able to rein back its general and administrative expenses by 43%, to 1.6 million Euro, mainly as a result of incisive cost management. Expenditure on research and development in the first half of 2001/2002 stood at 2.7 million Euro, as opposed to 0.8 million Euro in the first half of the previous financial year.

In the first half of the current financial year, caatoosee generated revenues of 9.2 million Euro. Earnings before interest, taxes, depreciation and amortisation (EBITDA), and before exceptional charges, amounted to -7.3 million Euro (first half 2000/2001: -1.4 million Euro). The caatoosee Group's earnings situation was affected, particularly, by expenses in connection with the integration and restructuring of the Group, as well as capital expenditure related to research and development. With goodwill amortisation of 2.3 million Euro, earnings before interest and taxes (EBIT) for the first six months of the financial year stood at -14.0 million Euro (previous year: -2.4 million Euro). The Group posted a net loss of 18.9 million Euro for the first half (first half 2000/2001: net profit of 0.1 million Euro).  Earnings per share therefore amounted to -1.09 Euro.The level of orders in hand as of September 30, 2001, stood at 32.1 million Euro. Boasting an equity ratio of 71 per cent, the Group is equipped with an extremely solid capital base. The level of cash and cash equivalents remained high, recording a figure of 31.1 million Euro (previous period: 39.7 million Euro).

In the coming months all subsidiaries will be integrated into caatoosee ag, with the express purpose of enhancing the caatoosee brand and positioning the company more effectively as a specialist for Information Logistics. The main focus of caatoosee ag is on error-tolerant retrieval technology and process integration services. The former member of the board responsible for the area of technology, Toto Sugiri, who is also the Chairman of the Sigma Group, will be resigning from the Management Board of caatoosee ag effective from December 31, 2001.

The Management Board

Further inquiry note: caatoosee ag, Stefan Ahrens, ph + 49 (0) 7152 / 355-6000, e-mail stefan.ahrens@caatoosee.com

Ahrens & Behrent, Financial Dynamics GmbH, Dr. Lutz Golsch, ph +49 (0) 069 / 92037-110, e-mail  l.golsch@a-b.de



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