PixelNet AG
PixelNet AG english
PixelNet AG
Ad-hoc-announcement processed and transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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PixelNet AG: Audited year end financial statement shows positive correction of
result
– EBIT at 2.06 million EUR is higher than previously announced by 0.56 million
EUR
– Striving for better result in 2002
Wolfen, March 15, 2002 – PixelNet AG (Neuer Markt: PXN) – multi-channel
provider in the world of photography – reports that after confirmation of the
annual financial statement by the supervisory board, the preliminary key data
for the business year 2001 have been amended from the previously published
figures of February 4, 2002. In spite of difficult economic conditions in the
consumer sector, the group was, for the first time, able to show a positive
result. The reported group result before interest and taxes (EBIT) increased,
according to audited figures, to 2.06 million EUR – the preliminary EBIT had
been reported by the company to be 1.5 million EUR – these figures underline
the operating efficency of the group.
The audited group net income for the business year 2001 was 3.29 million EUR,
slightly above the preliminary calculations of 3.0 million EUR. The final
revenue figures for the group are set at 217.47 million EUR. Whereas at the end
of the business year 2000 the group recorded revenues of 22.1 million EUR and a
net loss of -7.6 million EUR. In this regard, it must be taken into
consideration that subsidiary Photo Porst AG, which was acquired and integrated
in the course of the past business year, has been consolidated since
February 19, 2001.
Opportunities for 2002 to be met with strategy and solid financial power
PixelNet AG shows positive liquidity of 9.1 million EUR and thereby, for the
first time since the take over of Photo Porst and the costs associated with the
successfully completed restructuring, an increase of cash assets in the
comparitive quarter of 0.9 million EUR. (III. quarter 2001 8.2 million EUR).
With the positive development of the cash position as a background the company
emphasises its financial strength and corroberates to be in a comfortable
position to secure financing for the operating business from its own resources.
For the current business year PixelNet is expecting a continuation of the
positive business trends with a clearly marked increase of revenues as well as
an improvement in the result. Already introduced restructuring measures,
measures to reduce costs and the streamlining of the company organization
within the concern as a whole, will all contribute to the aimed result. In
order to increasingly uncouple itself from consumer sector cycle, the company
will push the introduction of business sector storage for b2b-customer for the
business year 2002.
end of ad-hoc-announcement (c)DGAP 15.03.2002
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
PixelNet AG assumes that with the publishing of the figures for business year
2001 the most important new information has been released. Due to appointment
pressures caused by the “reporting season” as well as the IT Fair CeBit and the
corresponding inquiries from the financial community and media, the company has
decided to cancel the annual press conference and analyst conference, which had
been originally scheduled for March, 19. PixelNet has offered the financial
community to propose a new date.
The company will, of course, be glad to answer any questions when the complete
annual report is published next week.
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WKN: 527980; ISIN: DE0005279806; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
151353 Mär 02
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