euro adhoc: ComputerLinks AG
Financial Figures/Balance Sheet
COMPUTERLINKS
AG announces the results for the 1st half of 2005 and also the setting up of
COMPUTERLINKS North America
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
24.08.2005
COMPUTERLINKS AG increased group turnover in the first half of 2005 by 14.0% to 111.8 million Euro (1st half of 2004: 98.0 million Euro). Gross margins stood at 17.1% after 6 months of the current financial year. Compared to 17.7% in the 1st quarter of 2005 group margins fell in the 2nd quarter of 2005 to 16.5% as a result of competitive pressure. EBITDA* (earnings before interest, taxes, depreciation and amortisation) rose in the 1st half of 2005 to 5.4 million Euro compared to 5.2 million Euro in the 1st half of 2004. The strengthening of the USD against the Euro resulted in foreign currency losses of 0.6 million Euro in the 1st half of 2005 (1st half of 2004: foreign currency gains of 0.3 million Euro). The net income for the period was therefore reduced from 3.2 million Euro in the 1st half of 2004 to 2.8 million Euro in the 1st half of 2005. This corresponds to earnings per share of 0.46 Euro compared to 0.54 Euro in the first six months of the previous year.
We have set up COMPUTERLINKS North America Inc. based in Austin, Texas, as a 100 % subsidiary of COMPUTERLINKS AG. Our newly formed company employs 6 staff and is starting with the distribution of products of the manufacturers Crossbeam, ActivCard, Clearswift and Zultys. The North American market represents for us significant potential for growth. Conversations with customers and manufacturers indicate that there is strong demand for the products and services we offer. Our plans are supported by the manufacturers, since they can achieve higher growth rates with an indirect business model.
Group turnover in the 2nd quarter of 2005 rose by 24.0% to 60.2 million Euro compared to the 2nd quarter of 2004. Reduced gross margins in the 2nd quarter of 2005 led to EBITDA* (earnings before interest, taxes, depreciation and amortisation) of 2.4 million Euro compared to 2.7 million Euro in the same quarter of the previous year. Taking into account foreign currency losses in the 2nd quarter of 2005 of 0.4 million Euro (2nd quarter of 2004: foreign currency gains of 0.1 million Euro) the net income for the period in the 2nd quarter of 2005 was 1.2 million Euro (2nd quarter of 2004: 1.7 million Euro). This resulted in earnings per share of 0.19 million Euro in the 2nd quarter of 2005 (same quarter in the previous year: 0.29 Euro).
The 100% acquisition of the Scandinavian Securesoft Group took effect as of 1st May 2005. The Securesoft Group achieved turnover of 7.3 million Euro, EBITDA (earnings before interest, taxes, depreciation and amortisation) of 0.45 million Euro and a result after tax of 0.3 million Euro in the months of May and June 2005.
Issuer's information/explanatory remarks concerning this ad hoc announcement:
Stephan Link, founder and CEO of COMPUTERLINKS AG commented: "The acquisition of the Securesoft Group in the 2nd quarter of 2005 saw the successful realisation of a significant milestone along the path of European market expansion. The launching of our value added distribution model in North America promises growth rates comparable to those of the European market."
Results at a glance (in million Euro):
01.01.-30.06.05 01.01.-30.06.04 Change in %**
Turnover 111.8 98.0 + 14.0
EBITDA* 5.4 5.2 + 3.8
EBIT 5.0 4.7 + 5.1
Net income for the period 2.8 3.2 ./. 11.6
Earnings per share in Euro 0.46 0.54 ./. 14.8
2nd quarter 2005 2nd quarter 2004 Change in %**
Turnover 60.2 48.5 + 24.0
EBITDA* 2.4 2.7 ./. 9.8
EBIT 2.2 2.5 ./. 14.2
Net income for the period 1.2 1.7 ./. 31.7
Earnings per share in Euro 0.19 0.29 ./. 34.5** The percentage changes are based on values which have not been rounded off
* Unlike the previous classification foreign currency gains/losses are shown after the net interest result and are no longer factors influencing earnings before interest, taxes, depreciation and amortisation.
end of announcement euro adhoc 24.08.2005 07:23:23
Further inquiry note:
Bettina Zollner
Branche: Computing & Information Technology
ISIN: DE0005448807
WKN: 544880
Index: Nemax 50, Prime Standard, CDAX, Prime All Share, Technologie
All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Berliner Wertpapierbörse / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bayerische Börse / free trade
Bremer Wertpapierbörse (BWB) / free trade