euro adhoc: PANDATEL AG
Quarterly or Semiannual Financial
Statements
Pandatel: First quarter characterized by huge product
offensive - project business is increasing (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Hamburg. Pandatel AG, Hamburg, closed first quarter of FY 04 with EUR 3.1m in sales revenue. Compared to the previous year, turnover dropped by 20 % in the traditionally weak quarter in the network market. Development costs have risen due to Pandatels product offensive introducing 15 new products at the CeBIT thus influencing prior tax earnings: EBT decreased from EUR -2,0m to roughly EUR -2.6 in Q1/2004. The company reported a net loss of EUR 1.7m (net loss Q1/2003: EUR 1.3m) after taxes. ProVit is yielding first results. The initiative has been launched at the beginning of the year to increase efficiency. Consequently, sales cost and administrative expenses have decreased by app. EUR 0.7m. In the current year, total costs are to be reduced by ProVit by app. EUR 2m. Therefore, the board expects to maintain its forecast i.e. to achieve a balanced result for the current fiscal year.
Transition to project business creates temporary order shortage
Both order backlog and new orders decreased compared to last year figures. By the end of the period, the order books showed app. EUR 2.0m i.e. EUR 1.9m below last years amount. Order receipt totalled roughly EUR 3.1m. Among other things, this demand shift was caused by focusing on the more profitable project business that currently constitutes some 20 % of the sales revenue. Prolonged planning and release periods caused a dent in order book levels. Pandatel accepts this change in demand because lot sizes and margins exceed those of the traditional business. In the medium term, projects shall dominate the business: The company intends to achieve approximately 80 % of its sales revenues based on projects in three to five years.
The complete Quarterly Report is available on our website (www.pandatel.com).
Pandatel AG: Headquartered in Hamburg, Germany, Pandatel is a specialist provider of professional access and transmission technology for fiber-optic and copper data transmission. With a payroll of some 180, its own representative offices in France and Great Britain as well as subsidiaries in the United States, Israel and Singapore, and a range of sales partners world-wide, the publicly listed company supports corporate clients in 90 countries.
Contact: Dietlinde Bamberger | Pandatel AG Fasanenweg 25 | 22145 Hamburg | Germany Phone: +49-40-644 14 244 Facsimile: +49-40-644 14 108 E-mail: ir@pandatel.com
Axel Schmid | Trimedia Communications Deutschland GmbH Hanauer Landstraße 175-179 | 60314 Frankfurt | Germany Phone: +49-69-96 22 19 66 Facsimile: +49-69-96 22 19 96 E-mail: axelschmid@fra.trimedia.de
end of announcement euro adhoc 12.05.2004
Further inquiry note:
Dietlinde Bamberger
Investor Relations
Tel.: +49(0)40 644 14 244
ir@pandatel.com
Branche: Telecommunications Equipment
ISIN: DE0006916307
WKN: 691630
Index: Prime All Share, Prime Standard
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Niedersächsische Börse zu Hannover / free trade
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Hamburger Wertpapierbörse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade