Novasoft AG
Novasoft AG english
Novasoft AG with profitable first quarter 2003
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Novasoft AG generated revenues of 16.1 mill. EUR (Q1/02: 18.4 mill. EUR)in the
first quarter of 2003. In comparison to the previous quarter that represents an
increase of 2.3 percent. The EBIT was 1.4 mill. EUR (Q1/02: 2.3 mill. EUR). The
EBIT margin amounted to 8.5% (Q1/02: 12.5%). Following a weak fourth quarter of
2002 Novasoft is keeping its promise to return to the profit zone.
The amortization of goodwill increased as a result of the acquisition of company
shares in GB and Singapore in comparison to the previous year’s quarter by 50
percent to 412,000 EUR (Q1/02: 274,000 EUR). The acquisition of the shares had a
positive effect on the Group result: the percentual share of minority interests
in the result declined in the first quarter of 2003 to 16.7 percent (Q1/02:
30.8 %). The result per share in the first quarter amounted to 0.03 EUR. In the
year 2002 as a whole, Novasoft reached 0.12 EUR per share, of this total, 0.06
EUR was accounted for by the first quarter.
The utilization of capacity at the foreign locations is good in almost all cases
and satisfies our expectations. Only in Asia are the effects of the SARS
syndrome affecting the course of business. In total, orders on hand abroad cover
the next five months.
Novasoft was able to acquire new clients and new projects in Germany. One of the
new clients is Wolf-Garten GmbH & Co KG, with whom Novasoft has concluded a
contract for 1,500 man-days. Follow-up projects are in the final stages of
negotiation. With Rathenower Optik GmbH, a 100-percent subsidiary of Fielmann
AG, another new client has been acquired. The initial project involves around
800 man-days. In addition, Novasoft was awarded other project orders by other
clients, each with a volume of approx. 500 man-days. Thus in Germany, too, a
high level of utilization is guaranteed for the second quarter.
Novasoft has continued to make investments in its own shares in the first
quarter within the scope of resolution of the Annual General Meeting. As of
31.03.2003, the company was holding 619,684 own shares.
The company assesses the prospects for the second quarter of 2003 positively.
From today’s point of view, the management of Novasoft AG expects stable
revenues. Parallel further cost-optimization programs continue to run. The
company’s target for 2003, to achieve a profitability of between 9 and 10
percent EBIT margin, remains unchanged.
end of ad-hoc-announcement (c)DGAP 05.05.2003
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WKN: 677890; ISIN: DE0006778905; Index:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
050659 Mai 03
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