InfoGenie Europe AG

euro adhoc: InfoGenie Europe AG
Quarterly or Semiannual Financial Statements
InfoGenie: Streamlining proves successful in the third quarter Losses considerably reduced - positive earnings territory to be reached in the year 2003 (E)

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Berlin, November 27, 2002 - Following its tough streamlining measures, on the whole Infogenie Europe AG, listed on the Neuer Markt segment of the Frankfurt Stock Exchange (SIN 747 206), can look back on a satisfactory third quarter. Despite the difficult economic situation and tense industry environment, from July through September Group sales came to 661 thousand euros, which is close to the previous year’s level. In the first nine months of the year, sales rose by a total of 18 per cent, to 2,280 thousand euros.

In terms of earnings, substantial improvements were recorded year-on-year, both in the quarter and in the first nine months. This was possible thanks to drastic cost-cutting measures implemented. The operating result before interest and taxes from June to September amounted to minus 598 thousand euros, a substantial decline of 30% on the same quarter a year earlier. Together with the losses carried over from the first two quarters, the deficit as at the September 30 reference date came to a total of 1,831 thousand euros. Compared with the 9-month report of the previous year, this likewise corresponds to a decline of roughly one third.  

Accordingly, the figures are right on target. Thomas Dehler, member of the Management Board, adheres to his objective of enabling the company to reach break-even point in the first half of 2003.

Background: The 3rd quarter was dominated by the streamlining measures imposed to cut costs and extend the company’s operations. Key measures were the merger of InfoGenie Deutschland GmbH to form InfoGenie Europe AG as well as a package of capital measures implemented to secure the long-term survival of the company. As a first step, the company’s capital stock was reduced in a ratio of 6:1 according to a resolution passed at the general meeting, and subsequently the capital stock was increased by 750,000 euros. A further capital increase by 6.5 million euros against a non-cash contribution is to be effected at an extraordinary general meeting to be held in Berlin on December 27.

end of announcement            euro adhoc 27.11.2002

Further inquiry note: Thomas Kruithof Tel.: +49 (0)30 726102-122 E-Mail:

Branche: Telecommunications Services
ISIN:      DE0005309900
WKN:        530990
Börsen:  Baden-Württembergische Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Berliner Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Bremer Wertpapierbörse (BWB) / free trade
              Hamburger Wertpapierbörse / free trade
              Niedersächsische Börse zu Hannover / free trade
              Frankfurter Wertpapierbörse / Neuer Markt

Weitere Meldungen: InfoGenie Europe AG

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