euro adhoc: ABIT AG
Earnings
ABIT AG Turns Group Profit in 2nd
Quarter (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Meerbusch, 25 July 2003. ABIT AG, the specialist consultant and solutions provider for credit and debt management, swung to a group profit in 2nd quarter for the first time since its initial public offering in February 2000. The preliminary earnings for the group totaled TEUR 35 as compared to the previous losses of TEUR -1,037 in the same quarter last year and TEUR -432 in Q1/2003. From a semi-annual perspective, ABIT expects to post a group loss of TEUR -397, cutting the prior-year loss (TEUR -2,361) down to about one-sixth. ABIT had originally projected only flat earnings before interest, taxes, depreciation and amortization (EBITDA) in the outlook for the 2nd quarter of the current fiscal year. And yet, the EBITDA in this 2nd quarter totaled TEUR 392. ABIT posted a negative EBITDA of TEUR -101 during the same quarter a year ago and a scantly positive TEUR 0.117 in Q1/2003.
A significant increase in sales together with even slightly lower costs were crucial to this positive earnings performance. With its preliminary quarterly sales revenues of TEUR 3,714 ABIT improved sales by 41 percent over the year-earlier 2nd quarter (TEUR 2,631; not including the U.S. business sold last year) and by 12 percent over 1st quarter 2003 (TEUR 3,327). The value of sales measured over the half-year period was TEUR 7,042 compared to the TEUR 5,131 (not including USA) for the first six months of 2002, or an increase of 37 percent.
The company enjoyed a positive cash flow in 2nd quarter as it has during the entire first half of 2003. This resulted in its financial resource funds climbing to TEUR 6,031 as of 30 June 2003 from TEUR 5,227 as of the 31 December 2002 balance sheet date.
The company will be publishing its complete semi-annual report on 12 August.
end of announcement euro adhoc 25.07.2003
Further inquiry note:
Herr Sven Kamerar
Head of Corporate Communications
Tel.: +49 (0)2150 9153 201
E-Mail: investor@abit.de
Branche: Software
ISIN: DE0005122501
WKN: 512250
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 Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade