JoWooD Productions Software AG

euro adhoc: JoWooD Productions Software AG
Annual Reports
JoWooD confirms preliminary results 2002 (E)

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- Total sales in 2002 increased to EUR 43.5 million. - Sales in the forth quarter amounted to EUR 13.3 million. - Group result after minorities in the forth quarter clearly positive at EUR 1.8 million - A new sales model shall ensure survival of the company

Sales of JoWooD Productions Software AG rose by about 4.4% compared to last year to EUR 43.5 million in 2002. Due to restructuring measures started in the third quarter EBIT for the total year 2002 dropped to EUR -42.8 million and was considerably below last year. The group result after minorities amounted to EUR -28.6 million. EBIT before restructuring measures and one-off effects amounted to EUR-5.6 million for the whole business year.

Taking into consideration the agreed bank discounts to the amount of TEUR 8,948 along with the extensive restructuring measures and value corrections the total assets of the group lowered to TEUR 52,440 (2001: TEUR 67,670). Reported equity capital amounts to TEUR 13,942 (2001: TEUR 30,252).

The restructuring measures that were introduced in the third quarter and intensified in the forth quarter have had a considerable positive impact on the forth quarter 2002. Sales reached EUR 13.3 million, with a positive EBIT of TEUR 96. The group results for the forth quarter 2002 amounted to EUR 1.8 million.

As a part of the restructuring measures discounts have already been agreed on in the upper two-digit million area. Furthermore, approximately 50% of the employees have been laid off and the whole organisation has been restructured. Additionally, the first of many office locations have been consolidated, non-personnel costs have been reduced and clear cuts have been realized in the product portfolio. The primary goal being a positive EBIT for the year 2003.

For details on the financial statement 2002 see

end of announcement            euro adhoc 05.03.2003

Further inquiry note: JoWooD Productions Software AG Dr. Michael Pistauer, Vorstand. Karin Kraberger, Investor Relations Tel.: +43 (0)3614 2966 1015

Branche: Software
ISIN:      AT0000747357
WKN:        074735
Index:    ATX Prime, ViDX, WBI
Börsen:  Baden-Württembergische Wertpapierbörse / free trade
              Bayerische Börse / free trade
              Berliner Wertpapierbörse / free trade
              Frankfurter Wertpapierbörse / free trade
              Wiener Börse AG / official dealing

Weitere Meldungen: JoWooD Productions Software AG

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