eJay AG
eJay AG english
Ad hoc announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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eJay AG in the 2nd quarter of 2001:
Extraordinary factors burden result
Stuttgart, Germany, 9 July 2001. eJay AG will not achieve its targeted goals for
turnover and results in the second quarter of the year. Turnover will actually
be above that of the comparable period in the previous year, but the planned
expectations in turnover and results will not be achieved. This development can
be traced back to two main causes. One is that the section of the Online
Services segment, which is financed by advertising, was unable to meet
expectations. As a reaction to this, the eJay AG management has taken rigorous
action and discontinued the non-profitable sections of the online services, and
also reduced the core personnel. The profitable Streaming Music Services segment
of the future will on the other hand be retained. The measures taken
drastically reduced the block of fixed costs and achieved savings of a total of
approximately three million EUR in the second half of the year. The second
reason for the unsatisfactory development can be found in the distribution
segment. Whereas Great Britain, Scandinavia and France were able to further
increase their market shares on the international markets in comparison with the
same period in the previous year, the targeted goals on the German market were
not achieved. Problems in distribution and the resulting insufficient market
presence in the retail trade led to weaker sales results. The distribution
efficiency is expected to be perceptibly increased by an improvement in the
organisation of external distribution. Appropriate measures have been introduced
and should be concluded by the end of July. On the basis of the situation
portrayed, eJay is anticipating a result-relevant one-time expense in an order
of magnitude of 1.5 to 2.5 million EUR, which however does not influence
liquidity in any way. In view of the continued profitability of the software
business, the company is expecting positive results on the subsequent quarters.
Contact: Bernhard Krauß, Investor Relations Manager
Telephone: +49-711-62031-152, Fax: +49-711-62031-001
end of ad hoc announcement (c) DGAP 09.07.2001
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WKN: 549 570; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
090751 Jul 01
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