euro adhoc: ABIT AG
Quarterly or Semiannual Financial Statements
ABITÂ’s fourth quarter performance produces a positive operating result for the first time since its IPO (E)

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- ABIT fulfils forecasts - Concluding balance sheet corrective measures in the form of extraordinary depreciation as at year-end 2001 - Management Board member Volker Neuwirth to move to ABIT USA

ABIT AG, software and services provider for the debt management sector, achieved a positive preliminary EBITDA result of 0.5 million Euro in the fourth quarter of 2001. With this first positive quarterly operating result since the companyÂ’s IPO, the constant upward trend of the previous five quarters has been continued. Due to the positive development during the fourth quarter, a positive EBITDA will also be reported for the second sixth months of 2001 as a whole. ABIT has thus fulfilled the forecast made at the annual shareholdersÂ’ meeting in May 2001. The total operating performance for the fourth quarter at an estimated level of 6 million Euro represents the best quarterly result for 2001; The total operating performance for 2001 amounts to approximately 20 million Euro. The net operating result for the fourth quarter is expected to be less than minus 0.5 million Euro.

In future, the positive operating performance will be reflected in the net result even more clearly and without distorting effects. With this aim in mind, the annual results for 2001 are to include a final corrective adjustment to the balance sheet in the form of one-off special measures in the amount of approximately 7 million Euro. The one-off effects in the balance sheet and the accounts do not affect the operating result and the stable liquidity situation.

The company will provide its comments on the full annual results in its balance sheet press conference and a subsequent analystsÂ’ meeting in DĂĽsseldorf on 21. March 2002.

ABIT achieved a significant proportion of the total operating performance (35 per cent) and a positive operating result for the year as a whole in the US market in 2001. Against the background of this positive trend and in order to strengthen further the companyÂ’s involvement in this market, one of ABITÂ’s founding partners, Mr Volker Neuwirth (whose responsibilities to date have included the ABIT groupÂ’s international business), will be leaving the Management Board of ABIT AG with effect from 30. June 2002 to take over the management of the American operations locally as Chief Executive Officer of ABIT USA, Ogden/Utah. By bringing together and rationalizing its US sales operations under the aegis of ABIT USA, ABIT is aiming for above-average sales growth of 30 per cent in this market for the current year, whilst achieving clear positive results.

The departure of Mr Volker Neuwirth will leave the current Speaker of the Management Board, Mr JĂĽrgen Baltes, as the sole Board Member and Managing Director of ABIT AG. Mr Volker Neuwirth remains an investor in ABIT AG with an unchanged share of the share capital.

end of announcement            euro adhoc 18.02.2002

Further inquiry note: Frau Brigitte Gray, Tel. 02150-9153-200

Weitere Meldungen: ABIT AG

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