Pixelpark GmbH
Pixelpark AG english

Pixelpark AG announces results for the third quarter 2001 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Berlin, November 20, 2001: Pixelpark AG today announced its figures for the third quarter of 2001. As a result of the continuing difficult market conditions, Pixelpark reported third-quarter revenues of 17.4 million Euro – 26% down on the second-quarter figures. The principle reason was an appreciable reduction in September revenues in almost all segments. The EBITDA before restructuring was -7.7 million Euro. The operating income showed a loss of 14.2 million euro. This loss does not include any impairment charges. Pixelpark’s efficiency program was implemented according to plan in the third quarter and gave rise to restructuring costs in the sum of 3.2 million Euro. The positive impact of the cost reduction measures will be reflected in Pixelpark’s figures from the fourth quarter of the year. Cash in hand as at September 30, 2001 amounted to 17.8 million euro. In view of the ongoing reluctance of the investments within the IT sector and the tough conditions facing the industry, the Pixelpark Management Board does not expect significant improvement in the next six months. This applies particularly to the fourth quarter of the current fiscal year. There is a lower volume of orders than originally expected – particularly in Germany and Switzerland. So, despite significant cost improvements throughout the Pixelpark Group, it no longer appear realistic that the company will reach breakeven point this year. Pixelpark will taking active steps to overcome the difficulties in the current market situation. First, Pixelpark will strengthen the marketing activities. On the other hand, Pixelpark will also investigate further opportunities to reduce costs as well as take another look at the geographical focus of the company. All necessary action will be taken promptly. end of ad-hoc-announcement (c)DGAP 19.11.2001 ——————————————————————————– WKN: 514350; Index: NEMAX 50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 200056 Nov 01