Lintec Computer AG

euro adhoc: Lintec Information Technologies AG
Annual Reports / Ad-hoc Press Release by LINTEC Information Technologies AG (WKN 648 600, ISIN DE0006486004) in accordance with §15 of the Securities Trade Act. Annual Accounts 2004: sales target of euro 1

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Today's balance sheet press conference will present the company's
year-end accounts for 2004. Although the company was able to achieve
the sales target of euro 15.5 million, it missed its target of
breaking even in 2004 by a wide margin with an operating profit of
euro -5.5 million. The following table presents a comparison of key
balance sheet figures:
                                                        2004         2003    Change
                                                  EUR'000    EUR'000
Revenues                                        15,502      94,190    -83.5%
Earnings before interest
and tax (EBIT)                              -5,483    -11,173      50.9%
Earnings before tax (EBT)              8,878    -13,680                          
Consolidated net profit/loss         7,930    -16,990                          
            Net income per share    0.95 EUR -2.03 EUR                        
Operating cash flow before
interest and taxes                        -1,435        5,526              
Balance sheet total                      18,061      32,207    -43.9%
Annual average of employees              150          286    -47.6%
            of which trainees                  15            31    -51.6%
Employees as of 31 December              144          208    -30.8%
There are two main reasons for the drop in turnover. As planned,
LINTEC refrained from low-margin mass sales of PCs in 2004, taking
into account all follow-up expenditure. The main reason, however, was
the lack of contract financing. LINTEC's operative business was
chiefly governed by liquidity rather than market demands. In
particular during the last four months of the financial year, the
company was unable to accept orders already submitted since the
required bridge financing liquidity was simply not available. In the
face of these facts, the management is working intensively on finding
solutions to improve the liquidity situation.
During the past financial year, the company showed annual earnings of
EUR 7.9 million (EUR EUR16.9 million annual deficit in the previous
year). A chief portion of this profit is the result of the oneoff
effect of the transaction with DKB AG and DKB Finance GmbH in June
2004. The object of this transaction was the sale to DKB Finance GmbH
(Berlin) of the 86.25 % share which LINTEC held in MVC AG from
Taucha. Among the benefits achieved in the course of the sale of MVC
AG was the discharge of the short term credits for LINTEC AG at a
volume of approx EUR 7 million. As a result, the company is now
almost debt-free, with the exception of the loan for the company
property which is refinanced by the reconstruction loan corporation
KfW. Moreover, the spinning-off of MVC AG had a positive effect on
the earnings before tax.
In summary we can conclude that, following the restructuring process
of the past years, the company has created all the conditions
necessary for a successful business year 2005. As a nearly debt-free
company, LINTEC will once more be of greater interest to the capital
market. Moreover, the successful positioning of the new lines of
business, "PC & Home Entertainment Products" and "Production &
Logistics", will facilitate an increase in profitability which in
turn will contribute to a turnaround in the running financial year.
For further information, please log on to our web site at where, in the course of the day, we will post
additional information on the balance sheet press conference.

end of announcement                                euro adhoc 31.03.2005 17:48:57

Further inquiry note: LINTEC Information Technologies AG, Investor Relations, Phone: ++49/(0) 34298-71-607, Fax: -372. E-mail:, Web:

Branche: Computing & Information Technology
ISIN:      DE0006486004
WKN:        648600
Index:    Prime Standard, CDAX, Prime All Share, Technologie All Share
Börsen:  Frankfurter Wertpapierbörse / regulated dealing
              Berliner Wertpapierbörse / free trade
              Hamburger Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Niedersächsische Börse zu Hannover / free trade
              Bayerische Börse / free trade

Weitere Meldungen: Lintec Computer AG

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