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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)

Disclosure announcement transmitted by euro adhoc. The issuer is
responsible for the content of this announcement.
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: ir@infogenie.com

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

Plus de actualités: InfoGenie Europe AG
Plus de actualités: InfoGenie Europe AG