ArtStor AG
ArtStor AG english
ArtStor AG: Financial year 2001
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Hamburg/Munich ArtStor AG, Hamburg, achieved consolidated revenues of 83.2
million euro in 2001. They thus fall only slightly short of forecast revenues
of 85 million euro. When making a comparison with the previous year, in which
ArtStor had reported revenues of 12.2 million euro, the initial consolidation
of Zeta AG must be taken into account. In 2001 it contributed around 77 million
euro to Group revenues, representing 93% of turnover. The result before
interest, taxes, depreciation and amortisation (EBITDA) fell from minus 2.1
million euro in the previous year to minus 8.3 million euro. The operating loss
amounts to 15.4 million euro, compared to 2.3 million euro in the previous
year. The forecast was for a negative EBIT of 5.0 million euro. The result
before income taxes, EBT, comes to minus 16.4 million euro in the year under
review, compared to minus 2.7 million euro in the previous year.
The Group is reporting an annual net loss amounting to 18.9 million euro for
2001. In the previous year the net loss was 1.7 million euro. On the basis of
the 7 million shares in circulation on the balance sheet date, earnings per
share amount to minus 2.70 euro; earnings per share in 2000 came to minus 0.35
euro.
The main reasons for the high losses, despite good sales figures, were in
particular the dramatic rise in depreciation and amortisation, both for
tangible assets (2.8 million euro, compared with 0.3 million euro in the
previous year), as well as for the first time for goodwill (4.3 million euro).
Other operating expenses weigh down the result to the extent of 8.9 million
euro. This reflects in particular the restructuring costs, revaluations and
losses from the disposal of securities. High staffing costs are also having a
negative effect, having risen to 6.4 million euro (previous year, 2.2 million
euro) not only as a result of the increase in the number of employees due to
the consolidation of Zeta, but also because of severance payments in the
context of changes to the Board of Directors, and employee redundancies.
For further information: ArtStor AG, Siegfried Briglmeier, Managing Director,
tel.: +49 (0)89 31787-180, briglmeiers@zeta-computer.de
end of ad-hoc-announcement (c)DGAP 28.03.2002
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
The reaction of the new Managing Director at ArtStor AG, and previous Managing
Director at Zeta AG, Siegfried Briglmeier, to the disappointing results for the
past financial year has been immediately to tighten up the internal
organisation by consolidating the Hamburg head office and the sales and
marketing office in Stuttgart. Combined with this there will be a drastic
adjustment to the costs structure.
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WKN: 549 286; ISIN: DE0005492862; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München, Stuttgart
281935 Mär 02
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