Microlog Logistics AG
Microlog Logistics AG english
Microlog Logistics AG
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Restructuring measures and sluggish new-account business affect earnings
prospects for 2002
Frankfurt, November 6, 2002. Microlog Logistics AG, one of the leading
specialists for high-end contract logistics and supply chain management, is not
expected to achieve its earnings target of EUR 15 million EBITA (earnings before
interest, taxes and goodwill amortisation) for the current financial year 2002
and has lowered its forecast to approx. EUR 13 million. In contrast, the sales
target of roughly EUR 280 million remains unchanged.
As was similarly the case in the first six months, business in the second half
of the financial year was characterised by a solid performance in relation to
the company’s existing client base, whereas decision-making by potential
customers was far more tentative. This is the result of general economic
uncertainty as well as a certain degree of hesitancy in connection with the
latest changes to Microlog’s shareholder structure.
The Solutions business unit, i.e. activities focusing on the development and
implementation of IT-based solutions within the field of supply chain
management, has been particularly badly affected by the above-mentioned delays
witnessed in terms of new-account business. Among other things – and this is
also a result of the company’s general reappraisal of the business positioning
of this segment announced in spring – Microlog will be discontinuing certain
activities in this area in the course of the current financial year, thus
implementing structural measures aimed at improving its earnings performance.
However, for reasons of transparency Microlog will continue to disclose
information on the Solutions unit as a separate reportable segment.
At today’s meeting the Supervisory Board of Microlog Logistics AG complied with
Prof. Dr. Matthias Leclerc’s request – the member of the Management Board
responsible for the Solutions business unit – to release him from his duties
with immediate effect. Prof. Dr. Leclerc wishes to pursue other career options.
The Management Board and the Supervisory Board of Microlog Logistics AG would
like to express their gratitude to Prof. Dr. Leclerc for his valuable
contribution towards establishing the company as a premier player in the field
of industrial contract logistics.
For further information:
Microlog Logistics AG
Investor Relations
Lyoner Strasse 24-26
D-60528 Frankfurt am Main
Tel: + 49 (0) 69 / 66 37 29-22
Mail: investor@microlog.de
end of message, (c)DGAP 07.11.2002
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WKN: 549 431; ISIN: DE0005494314; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
071435 Nov 02
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