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Promising start to the financial year 2003
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Promising start to the financial year 2003
Erlangen, 13 May 2003. november AG (ISIN DE0006762909) achieved a promising
start to the financial year 2003. Despite still difficult market conditions, the
consolidated revenues were increased by 18 percent to TEUR 954 (previous year:
810). In the same period, selling and marketing expenses, mainly because to the
market launch of identif Technologies, rose 27 percent to TEUR 451 (previous
year: TEUR 355). Effective as of 1 January 2003, the therapeutic business unit
was spun off to a separate company, responsif GmbH, under protection of the
investment and reduction of risk for november AG’s shareholders. This has to be
taken into account when comparing some financial key figures. The consolidated
net loss of the first quarter 2003 amounting to TEUR 828 improved 28 percent
(previous year: TEUR 1.149). Earnings per share (EPS and DVFA/SG) also improved
to EUR -0.12 in comparison to previous year’s EUR -0,17. Amounting to TEUR 882,
research and development costs were for the first time lower than in previous
year’s period. On an adjusted basis, R&D costs for the remaining development
units were increased according to plan by 32 percent. The reduction of the
average number of employees from 89 to 64 can be explained by the fact that the
former employees of the therapeutic unit are now working for the spin-off
responsif GmbH. The operating loss (EBIT) amounting to 1.275 million EUR
improved 40 percent (previous year: 2.139 million EUR). On 31 March 2003, the
balance sheet total was 27.58 million EUR (previous year: 29.58 million EUR).
The equity ratio remained unchanged at 92 percent. The management board believes
that the short and mid term total liquidity of EUR 13.1 million as of 31 March
2003 is a convenient basis to accomplish break-even.
For additional information please contact:
Dr. Peer Nils Schroeder
Investor Relations / Public Relations
Tel. +49 9131 750 88 868
E-Mail schroeder@november.de
end of ad-hoc-announcement (c)DGAP 13.05.2003
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WKN: 676290; ISIN: DE0006762909; Index:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hannover, München und Stuttgart
130945 Mai 03
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