euro adhoc: Lintec Information Technologies AG
Quarterly or
Semiannual Financial Statements
LINTECs Interim Report on the
First Six Months of 2003:
Operationally profitable again, upwards trend confirmed, costs
further reduced (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Taucha, 14 August 2003: LINTEC Information Technologies AG (Securities Code Number 648600, ISIN DE0006486004) achieved a group surplus in Q2 2003 of EUR703,000, thus continuing the upwards trend of the past few quarters. Despite the mainly seasonal drop in turnover, the LINTEC Group scored positive earnings at all levels for the first time since restructuring began. The progress made through restructuring is apparent when comparing the last four six-monthly periods: ~ Income statement key figures Q3-4/01 Q1-2/02 Q3-4/02 Q1-2/03 (EUR000) Turnover 171,342 119,485 84,912 58,004 EBITDA (21,737) (5,800) (2,282) 4,114 EBIT (24,626) (10,359) (2,938) 2,901 Pre-tax profits (EBT) (37,595) (22,882) (4,259) 2,702 Net income / loss (25,919) (24,331) (10,563) (569) ~ This persistent growth in income despite turnover declining by two-thirds over the past two years results from increasingly concentrating on the more profitable own-brand business and lower costs brought about by more efficient Group structures. The figures also benefited from writing back provisions no longer necessary in subsidiaries and valuation adjustments in the investment segment. Operating cash flow in the first six months of 2003 remained positive at EUR7.4m (compared to EUR14.3m year-on-year). It was mainly used to help pay off bank loans. Current bank liabilities were reduced from EUR32.3m to EUR26.2m, while liquid funds remained more or less constant at EUR6.4m (up from EUR6.1m). Personnel expenditure was reduced in the first six months of 2003 by 25.3% year-on-year. The number of employees in the LINTEC Group dropped from 460 at the end of June 2002 and 388 at the end of the year to 306. The full report on Q1 and Q2 2003 can be downloaded from www.lintec.de. A printed version is available from the company on request.
end of announcement euro adhoc 14.08.2003
Further inquiry note:
LINTEC IT AG, Dept MarCom
Tel. ++49/0 34298/71607
E-Mail: aktie@lintec.de
Branche: Computing & Information Technology
ISIN: DE0006486004
WKN: 648600
Index: CDAX, Prime All Share, Prime Standard, Technologie All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Niedersächsische Börse zu Hannover / free trade
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Hamburger Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade