Novasoft AG
Novasoft AG english
Novasoft is growing abroad; weak german environment demands forecast correction
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Novasoft is growing abroad; weak german environment demands forecast correction
Heidelberg, 29 November 2002, Novasoft AG continues to grow abroad at above-
average rates. Turnover and EBITA increased here in the first nine months by 51
and 34.4 percent respectively. In Germany, in contrast, the gradually declining
economic trend had a negative effect on the company. Total revenue in the
current year will amount to around 71 million Euro. The EBITA will be around 7.8
million Euro. As a result of the amortization of goodwill, that will produce an
EBIT of 6.4 million Euro. The EBIT margin will thus be about 9 percent. With
this result, revenue will be around 8 million Euro below the previous planned
figure, the EBIT margin is around three percentage points lower.
Revenue abroad rose in the first nine months by 51 percent to 27.2 million Euro.
The EBITA generated amounted to 4.3 million Euro and increased by 34.4 percent
compared to the same period of the previous year. Of the group EBITA, 55 percent
was earned abroad. This outstanding positioning permitted the Novasoft Group
abroad to continue to actively recruit consultants.
In Germany, the poor economic situation is now beginning to have an effect on
Novasoft AG’s business. Whereas revenue in Germany already declined slightly in
the first nine months of the year, in recent weeks several projects were
postponed at short notice until next year. In the current environment, these
postponements cannot be compensated for in the ongoing financial year.
Nevertheless, Novasoft’s success abroad proves that the company’s strategy is
the right one. The development of the business abroad with further increases in
revenue and earnings will, therefore, be continued. When Novasoft will be able
to return to its growth course in Germany, is entirely dependent upon the
economy. We are not in a position to make a forecast about this at present.
We do not, however, have a structural problem. Even though Novasoft would have
liked to see more growth, the management is very satisfied that, despite the
weakness of the world economy, the consulting company is still in a position to
grow profitably.
end of ad-hoc-announcement (c)DGAP 29.11.2002
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WKN: 677890; ISIN: DE0006778905; Index:
Listed: Neuer Markt Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, München, Hannover und Stuttgart
290700 Nov 02
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