euro adhoc: IVU Traffic Technologies AG
Quarterly or Semiannual
Financial Statements
Quarterly figures for fiscal 2005
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
04.05.2005
Revenues remain stable compared to the previous year EBIT and group result improve substantially Volume of orders is good
IVU Traffic Technologies AG earned around EUR5.2 million in revenues during the first three months of the current financial year, which is approximately on a par with the same period in the previous year. However, the Berlin-based software company made deep cuts in expenses. Personnel expenses declined 7 percent and other operating expenses as much as 31 percent. Where the result figures are concerned, earnings before interest and taxes (EBIT) improved 56 percent to EUR-0,7 million and the consolidated loss decreased 67 percent to EUR-0.6 million.
"The first quarter of 2005 shows that the layoffs we made in January, combined with our other cost-cutting measures, were both important and right on track," says Prof. Dr. Ernst Denert, CEO of the Berlin-based software company. "IVU is now moving toward a return to the black for the year as a whole." Although the companys goal is to keep 2005 sales at least at the same level as in the previous year, there is a good chance that this target would be exceeded and reach around EUR28 to EUR29 million. This would mean an operating result of EUR1-2 million, excluding the severance payments.
Personnel expenses will continue to shrink over the course of the year, since the effect of the layoffs announced in January was not yet fully felt in the first quarter. A total of 38 employees were laid off. Reductions in personnel expenses will run to a total of EUR1.4 million in 2005 and EUR2.1 million in 2006. However, the full impact of this measure on liquidity will not be felt until 2006, with only EUR0.4 million applying to 2005.
The volume of orders at the beginning of the second quarter of 2005 is good, with new orders - combined with revenues already posted - covering over 60 percent of the revenues planned for 2005 as of March 31, 2005. Including bids that seem likely to be accepted, the volume stands at more than 95 percent.
The complete report can be found at www.ivu.de.
end of announcement euro adhoc 04.05.2005 14:11:33
Contact:
Gerd Henghuber
Head of Corporate Communications
IVU Traffic Technologies AG
Bundesallee 88, 12161 Berlin
Germany
Tel +49 (0)30 85906-800
E-mail: gerd.henghuber@ivu.de
Website: www.ivu.de
Branche: Computing & Information Technology
ISIN: DE0007448508
WKN: 744850
Index: Prime Standard, Prime All Share, Technologie All Share, CDAX
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Berliner Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Niedersächsische Börse zu Hannover / free trade
Bayerische Börse / free trade
Bremer Wertpapierbörse (BWB) / free trade