PopNet Internet AG
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PopNet Internet AG: Management Buyout of the stake in
Agentscape / Focus on the service business and the profitable
core business area of eBusiness Enabling / Publication of the
preliminary key figures of the financial year 2000
Hamburg, 20th of March 2001 – In the form of a Management Buyout
(extraordinary agentscape general meeting from 19th of March 2001),
PopNet Internet AG parts company with its 59,8% stake of the
company Agentscape, which it has held up until now. Following
PopNets objectives to bundle investments, control efficiency
and reach profitability, which were set at the beginning of the
year, and due to the reality of the capital markets, the further
financing of the software development company can no longer be
justified. The focus of PopNet Internet AG on the service business
and the profitable core business area of eBusiness-Enabling will
be emphasised by the separation from the business division of
product development. With this restructuring measure, PopNet takes
another conclusive step in the direction to becoming a future
driven IT Service provider of the next generation.
This decision results in a one off negative result of -5,439 Mio.
Euro for the financial year 2000. This is made up of -2,41 Mio. Euro
from a write-off of the reported company value in the consolidated
balance sheet of the PopNet Internet AG and assets of Agentscape,
an additional proportion of the operational loss amounting to
-2,85 Mio. Euro, and -0,179 Mio. Euro incured through the separation.
The Agentscape AG contributed to less than 1% of the company
turnover up until the end of 2000, yet with a -2,85 Mio. Euro (=13,5%)
loss to the holding. The company performance will therefore be
improved by 2,0 Mio. Euro for the year 2001.
Equally, the estimated outflow of liquidity for Agentscape
(1,5 Mio. Euro/p.a.) will be lessened in 2001.
The PopNet Internet AG will end the expired financial year with
an anticipated EBIT of -21,12 Mio. Euro (including the Agentscape
effect) and an EBITDA of -12,06 Mio. Euro. The anticipated consolidated
sales rose by 283,71 % to 21,9 Mio. Euro in comparison to the previous
year. As the turnover of Agentscape played a secondary role in the
planning of the financial year for 2001, PopNet retains its
planned increase in turnover of 134%, raising turnover from
21,9 Mio. Euro up to 51,3 Mio. Euro in 2001.
For the restructuring which began in autumn 2000, an accrual of
2 Mio. Euro has already been reserved. The level of available
funds on 31.12.00 was 7,2 Mio. Euro.
Investors:
Janice Buchholtz, Head of Investor Relations PopNet Internet AG,
Tel.: +49 (0)40-2 78 27-269, Fax: +49 (0)40-2 78 27-199,
Email: j.buchholtz@popnet.de
Media:
Kathrin Heider, Head of Corporate Communications PopNet Internet AG,
Tel.: +49 (0)40-2 78 27-149, Fax: +49 (0)40-2 78 27-199,
Email: k.heider@popnet.de
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