JoWooD Productions Software AG
euro adhoc: JoWooD Productions Software AG
Annual & Special
Corporate Meetings
Weaknesses with the past internationalization
efforts of JoWooD make special depreciations and accruals necessary -
Result expectations for the fourth quarter negative - R
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
14.01.2005
The JoWooD Productions Software AG, a publicly listed company at the Vienna Stock Exchange, expects sales and results for the fourth quarter to be under the previously estimated figures, despite an increase of sales compared with the preceding quarters.
Special value adjustments due to the evident internationalization deficits as well as the adjustment of the activated deferred taxes influence the result of the fourth quarter. The company plans special depreciation of tangible assets as well as provisions for sales uncertainties within the million-range on basis of the introduced measures. These as well as the adjustment to the activated deferred taxes, due to the lowering of corporate tax, starting from 2005 load the result.
Despite successful restructuring the internationalization of the enterprise has not yet reached the desired extent. A new Supervisory Board, the old having resigned in the mid of December 2004, will be elected in an Extraordinary Shareholders meeting taking place today and is expected to assist considerably with the internationalization of the concern and the elimination of known deficits swiftly.
Rapid measures are substantial in order to benefit from the outstanding 2005 game line-up. These measures were already partly initiated therefore making the special accruals and amortizations meaningful. The 2005 game portfolio brings a balanced combination of PC and console titles as well as outstanding brands ( i.e. Gothic; Spellforce; Stargate ). JoWooD successfully entered the console market with own brand products in the mid of 2004. The extraordinary shareholders meeting for the election of the new Supervisory Board will take place today at the companys headquarter in Rottenmann.
Further information:
Dr. Michael Pistauer E-mail: investor@jowood.com Tel.: +43 3614 2966 1021 Fax: +43 3614 2966 1023 www.jowood.com
end of announcement euro adhoc 14.01.2005 09:36:52
Further inquiry note:
JoWooD Productions Software AG
Dr. Michael Pistauer, Vorstand
Mag. Oliver Ruetz, Investor Relations
Tel.: +43 (0)3614 2966 1016
mailo:investor@jowood.com
http://www.jowood.com
Branche: Software
ISIN: AT0000747357
WKN: 074735
Index: WBI, ATX Prime, ViDX
Börsen: Berliner Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Frankfurter Wertpapierbörse / free trade
Bayerische Börse / free trade
Wiener Börse AG / official dealing