GfN AG i. I.
Ges. f. Network Training english
Ad hoc announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Modest boost in sales for the IT training specialist
GFN on target at the end of the first quarter
Stuttgart, 31. May 2001. GFN AG reported a modest increase in sales for the
first three months of the current fiscal year and was able to sign several
important cooperation agreements. With sales up by 4.6 percent to DM 18,3
million (previous year: DM 17.5 million), the IT education and training partner
GFN was well on the way to meeting its own targets in what is typically a weak
first quarter. In its largest area of business, IT training and continuing
professional development, the company realized DM 17.0 million, inclusive of
e-Learning, a plus of 6.9 percent (previous year: DM 15.9 million). Of this
total, around DM 1.3 million were generated by IT services compared with DM 1.7
million in the same period last year.
Results for the first quarter were influenced by the switch to the new Corporate
Design and the final integration of the Ditec education centers. Earnings
before interest, tax, depreciation and amortization (EBITDA) consequently
dropped from DM 0.65 million to DM 0.11 million. Results of ordinary business
activities were reported at DM 1.5 million (previous year: DM -1.0 million). At
the end of the period GFN had liquid funds of DM 13.2 million
On 31 March 2001, the GFN Group employed a workforce of 235 (previous year:
222). compared with 228 at the end of 2000. Personnel expenses rose accordingly
from DM 5.8 to DM 6.2 million.
Viewing the year as a whole, we aim to further strengthen our market position
and reinforce our sales activities. We anticipate an increase in sales to over
DM 80 million. We also aim to increase earnings before interest, tax,
depreciation and amortization (EBITDA) as a share of sales.
end of ad hoc announcement (c) DGAP 31.05.2001
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WKN: 587980; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, München, Hannover und Stuttgart
310701 Mai 01
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