Walldorf, February 10, 2003. According to its provisional figures, REALTECH AG recorded a slight increase in sales in fiscal year 2002 to €57.0m (2001: €56.5m). Sales in software solutions increased by 45% to €8.6m (€5.9m). This can mainly be attributed to the fact that sales and distribution activities have been intensified throughout the Group. In the technology consulting division, which was affected by price pressure and falling demand, revenues amounted to €48.4m, which constitutes a 4% drop compared to the previous year (€50.6m).
Provisional earnings before interest, taxes, and depreciation (EBITDA) reached €4.9m (€5.4m), while the provisional operating result (EBIT) amounted to €1.9m (€1.8m).
With a positive interest balance (€0.6m), a currency translation loss (€0.2m), and tax expenses (€1.9m), net income is expected to be €0.3m (minus €2.1m), making it positive again for the first time since 1999. This results in provisional earnings per share of €0.06 (compared to minus €0.42).
In 2002, REALTECH recorded a cash flow of €4.3m following €0.8m in the previous year. Net cash and cash equivalents at the end of December were €16.6m, up 6% on last year’s figure of €15.7m.
4th quarter of 2002: Provisional sales in the 4th quarter fell to €13.9m (from €15.5m in the fourth quarter of 2001). This includes an increase in software sales to €2.5m (€1.8m) and a decrease in the area of consulting to €11.4m (€13.7m). Provisional EBITDA, at €1.7m, is on a par with the previous year's figure, while EBIT improved to €1.0m (compared to €0.7m).
On January 1, 2003 REALTECH AG (SID 700890) was admitted to Deutsche Börse AG’s new “Prime Standard” segment.
REALTECH is scheduled to publish its final consolidated financial statements for fiscal year 2002 on March 20, 2003.
Contact person: Volker Hensel Investor Relations REALTECH AG, 69190 Walldorf Tel.: +49 6227 837 500 Fax: +49 6227 837 434
