Walldorf, March 25, 2004. Today, REALTECH AG published its consolidated financial statements as of December 31, 2003. Here are a few details of the most important results: Group revenue amounted to EUR 55.3m (2002: EUR 57.0m) – down 3% on the figure for the previous year. Software revenues – at EUR 8.5m – were pretty similar to the previous year (EUR 8.6m). In the Consulting segment, revenues dropped by 3% to EUR 46.8m (compared to EUR 48.4m in the previous year).
Income from operations (EBIT) amounted to EUR 1.4m (compared to EUR 1.9m). The fact no further development expenditure was capitalized because the theGuard! software developed in house had become ready for marketing reduced this figure by around EUR 0.6m.
Net income amounted to minus EUR 0.3m (EUR 0.3m), while earnings per share were minus EUR 0.06 (EUR 0.06). This was negatively impacted by EUR 0.7m due to the one-off effect of the write-down of the company’s interest in Grau Data Storage AG.
REALTECH achieved a cash flow of EUR 4.4m (EUR 4.3m), while net cash and cash equivalents increased to EUR 20.0m – 20% up on the figure of EUR 16.6m recorded on the key date at the end of the previous year.
REALTECH expects Group revenue in the fiscal year 2004 to be between 10% and 15% lower than in 2003. The main reason for this is that revenue is declining at the company’s Italian subsidiary, REALTECH Italia. The Group is striving to achieve a balanced income from operations.
REALTECH AG’s Executive Board will be commenting on the results for the fiscal year 2003 and the outlook for 2004 in the context of a telephone conference at 10.00 a.m. A conference for DVFA analysts will be held at 3.00 p.m. in Frankfurt/Main.
Contact: Volker Hensel Investor Relations REALTECH AG, 69190 Walldorf Tel.: +49 6227 837 500 Fax: +49 6227 837 9134
