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ABIT AG

euro adhoc: ABIT AG
ABIT AG: Very Good 4th Quarter Caps Restrained 2002 Fiscal Year (E)

Disclosure announcement transmitted by euro adhoc. The issuer is
responsible for the content of this announcement.
- Preliminary figures for fiscal year 2002
- U.S. business spurs drop in sales
- Budgeted earnings narrowly missed
- Noticeable upswing in Q4 domestic business
Meerbusch, 10 March 2003. ABIT AG, the specialist consultant and
solutions provider for credit and debt management, posted preliminary
sales of some EUR 16.4 million in fiscal year 2002, falling short of
its prior-year figure (EUR 19.5 million). The reasons for this can be
found in the below-budget performance in its U.S. operations during
the first nine months and the loss of U.S. revenues from the
fourth-quarter sale of the American subsidiaries.
Net group earnings were saddled with a final consolidation charge of
EUR -2.5 million from the sale of the U.S. business. Because of this
item and the drop in sales, ABIT will fail to reach its goals of
positive EBITDA (earnings before interest, taxes, depreciation and
amortization) for the year as a whole and balanced group results in
the second half of the year. Despite these factors, the company still
anticipates a significant improvement in its earnings picture over
2001. The group loss is expected to be less than half that of last
year. Adjusted for the special USA item, ABIT will achieve almost
even net group earnings for 4th quarter.
Thanks to a big upturn in domestic business, ABIT was able to cushion
the impact of these negative factors in 4th quarter. It was during
this period that sales in the AG soared to a preliminary 
EUR 2.2 million, or double the results of each of the previous
quarters (Q1: EUR 1.1 million; Q2: EUR 1.1 million; Q3: EUR 1.1
million).
Because of its very good volume of outstanding orders, the company
expects to have positive EBITDA and cashflow over the whole of 2003.
The company is publishing its complete 2002 annual financial
statements on 25 March 2003.
end of announcement        euro adhoc 10.03.2003

Further inquiry note:

ABIT AG, Investor Relations, Frau Brigitte Gray, Phone +49 (0) 2150-9153 898,
investor@abit.de

Branche: Software
ISIN: DE0005122501
WKN: 512250
Index: Nemax All Share
Börsen: Frankfurter Wertpapierbörse / Neuer Markt
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

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