euro adhoc: SYNAXON AG
Financial Figures/Balance Sheet
SYNAXON AG provides preliminary figures for the 2005 financial year
Strategic investor announces preparations for public takeover offer

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Bielefeld, February 23, 2006: Based on preliminary calculations, net profit for the SYNAXON Group amounted to approx. EUR 0.2 million at Dec. 31, 2005 (Dec. 31, 2004: EUR 2.7 million). This corresponds to earnings per share of approx. 5 cents (FY 2004: 76 cents). The management had originally anticipated a reduction in earnings to 40 cent per share as a result of a far-reaching investment programme. These planned expenses coincided with exceptional charges. First, expenses associated with legal action taken following the contract terminations by 19 PC-SPEZIALIST franchisees were considerably higher than originally budgeted. Legal fees and provisions for legal proceedings amounted to more than EUR 0.6 million. In addition, valuation allowances had to be made in the amount of EUR 0.2 million for receivables from the above-mentioned franchisees in order to account for potential defaults. The second major factor was the loss incurred by the pilot store DIGITAL INC., Vienna, in 2005, which at around EUR 0.9 million was much more sizeable than originally forecast in mid-2005.  At around EUR 21 million, sales generated by the SYNAXON Group were higher than a year ago (FY 2004: EUR 17.2 million).

In view of the company's capital base, the Management Board has proposed a dividend of EUR 0.40 per share, despite the failure to meet corporate targets in 2005. The dividend payment is to be made from revenue reserves. Operating business will not be adversely affected by the dividend payment.

The full 2005 annual report for the Group will be presented at the Analysts' Meeting/Annual Results Press Conference to be held in Bielefeld on March 30, 2006.

Further information is available from the Corporate News Release, which can also be accessed via the company's website at, Investor Relations / IR Publications.

In addition, a strategic investor notified the company of its intention to put forward a public takeover offer. The Management Board of SYNAXON AG is currently not in a position to assess whether a potential takeover by the investor would be in the interests of the company and its shareholders.

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ots Originaltext: PC-Spezialist Franchise AG
Im Internet recherchierbar:

Further inquiry note:
SYNAXON AG, Investor Relations
Karen Müller
Telefon: +49(0)521-9696-292

Branche: Hardware
ISIN:      DE0006873805
WKN:        687380
Index:    CDAX
Börsen:  Frankfurter Wertpapierbörse / regulated dealing/prime
              Börse Berlin-Bremen / free trade
              Hamburger Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade
              Bayerische Börse / free trade

Weitere Meldungen: SYNAXON AG

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